The three daughters now inherit Graceland, which is part of a fund that Lisa Marie set up in 1993 with mother Priscilla (77) as an advisor. Anyone who thought that the bank account of Riley, Harper and Finley would immediately be fed with a dizzying million-dollar legacy is wrong.
Although grandfather Elvis still sells records and is streamed (the American business magazine Forbes once calculated that Elvis was still good for $ 40 million in music revenue per year), his grandchildren will receive few royalties (or rights). Elvis’ manager sold the catalog, reportedly 1,000 songs, to the Authentic Brands Group.
In addition, Elvis himself was “generous” (read: had a hole in his hand) and had misunderstood taxes and the high maintenance costs for Graceland. When Lisa Marie inherited at age 25, Priscilla had already turned Graceland into a museum. It turned out to be the best business decision the family ever made.
Every year, 500,000 to 700,000 fans come here who can stay in a luxury hotel, among other things. After President Joe Biden’s White House, Graceland is the most visited home in the US.
