Elvis Presley’s mansion, Graceland, is owned by Elvis Presley Enterprises (EPE). It was originally purchased in 1957 by Presley for $102,500. EPE has been the owner of Graceland since 1982 when Lisa Marie Presley inherited it from her father at just nine years old and transferred ownership to EPE.
The company currently maintains care and management of the estate. In 2006 Priscilla Presley formed a partnership with CKx Inc., now known as Core Media Group, who owns 85% of EPE while Priscilla retains 15%. The mansion remains open to visitors year round and serves as a major tourist attraction for Memphis.
Elvis Presley’s mansion Graceland is owned by Elvis Presley Enterprises, which was founded in 1982. Located in Memphis, Tennessee, the estate has become a popular tourist destination since opening to the public in 1982 and attracts hundreds of thousands of visitors annually. It includes the original house built by Elvis’ father Vernon Presley as well as several other structures added over time including an entertainment complex with a recording studio and racquetball court.
Visitors can view many of Elvis’ personal artifacts such as his cars, clothing and awards during their visit to this iconic piece of rock & roll history.
How Elvis Presley Spent His Millions
Who was the Last Person to Live at Graceland
The last person to live at Graceland was Priscilla Presley, Elvis’s ex-wife. After their divorce in 1973, she moved out of the mansion and returned a few years later when Elvis died in 1977. She stayed there until 1982 before finally deciding it was time to move on with her life.
Priscilla has since become an advocate for preserving Graceland as a monument to her late husband’s legacy and continues to be involved with its management today.
Is Graceland Still Owned by Lisa Marie?
Yes, Lisa Marie Presley is still the owner of Graceland Mansion in Memphis, Tennessee. After the death of her father Elvis Presley in 1977, his estate was left to his daughter and she has been the proud owner ever since. The sprawling estate sits on 13.8 acres and includes a main house with 23 rooms, a pool house and several other outbuildings.
In 1982 it became America’s first home to be listed as a National Historic Landmark on the Register of Historic Places due to its association with Elvis’ life and career. As part of her inheritance from her father’s will, Lisa Marie received millions in trust fund money which she used to purchase real estate that included Graceland Mansion along with its surrounding grounds for $4 million dollars USD at age 25 in 1993. Since then she has worked hard to maintain this important piece of history by preserving it for future generations through various renovations while continuing providing public access through tours offered by ‘Elvis Presley Enterprises’.
Who Bought 85% of Elvis Estate?
In 2003, a company called Authentic Brands Group (ABG) bought 85% of Elvis Presley’s estate. ABG is an international brand development, marketing and entertainment company that specializes in acquiring and building iconic brands for the long term. The remaining 15% of the estate was retained by Priscilla Presley, Elvis’ ex-wife.
At the time of its purchase, ABG promised to honor and protect the legacy of Elvis while exploring new opportunities for his image around the world. Since then, they have acquired various licenses related to his name including music publishing rights and movie projects as well as creating partnerships with companies such as Apple Music, Cirque du Soleil and Viva ELVIS at MGM Grand Las Vegas Hotel & Casino. In addition to these successes, ABG has also launched multiple campaigns dedicated to celebrating Elvis’s life through television commercials featuring his classic songs or commemorative products like limited edition apparel collections and jewelry designs all paying tribute to “The King” himself!
Who Will Inherit Graceland After Lisa Dies?
When Lisa Marie Presley passed away earlier this year, the world was saddened to lose an icon in the music industry. Now that she has gone, there is a question of who will inherit Graceland, her beloved estate that sits in Memphis Tennessee.
The answer lies with Elvis Presley Enterprises (EPE), which was formed by Lisa’s father and is now owned by her mother Priscilla Presley.
According to EPE’s legal documents regarding succession planning for Graceland and its related properties, “In the event of [Lisa’s] death or incapacity…all rights and interests shall pass automatically to Priscilla Beaulieu Presley as Trustee of The Estate of Elvis A. Presley Living Trust dated April 24th 1956.”
This means that upon Lisa’s passing, Priscilla inherited all assets associated with EPE including control over Graceland and its related properties such as Heartbreak Hotel and The Guest House at Graceland. As such, it can be assumed that after Priscilla passes away these assets will be passed on down her family line according to whatever instructions she leaves in her own personal estate plan or trust agreement.
Who Inherited Colonel Parker’S Money?
When Colonel Tom Parker, the manager of the most successful entertainer ever, Elvis Presley, died in 1997 at 87 years old he left behind a considerable fortune. His will revealed that he had bequeathed much of his wealth to a number of charities and organizations such as The Salvation Army and The American Red Cross. However, it was also discovered that he had left some money for family members as well.
It was reported that out of his estimated $10 million fortune, around $5 million went to three sisters who were still alive at the time – Regina Mae Haney (deceased), Marianne Gordon (Elvis’ ex-wife) and Rosemary Troup. Additionally, two nieces in South America (Carmen Gahrgaron and Joanne Pascarella) received about $2 million each from their uncle’s estate while seven other nieces living in Tennessee got an undisclosed amount. With regards to other relatives outside this circle there is no known information on whether they inherited any money or not from Colonel Parker’s legacy.
Conclusion
In conclusion, Elvis Presley’s mansion is now owned by his daughter Lisa Marie Presley. She has worked tirelessly to restore the mansion and keep her father’s legacy alive for future generations. The Graceland estate is now a popular tourist attraction which honors the life of one of America’s most iconic musicians.
Visitors can gain an appreciation for Elvis’ music and personal history as they tour the property and pay homage to this legendary singer.
