The reasons for the sudden death of Lisa Marie Presley, the only daughter of Elvis, on January 12 at only 54 years old, have still not been revealed.
But we know a little more about who will inherit his property.
According to a Graceland spokesperson, these will be his three daughters, the King's three granddaughters.
With musician Danny Keough, Lisa Marie Presley had actress and director Riley, 33, and a son Benjamin who died by suicide in 2020 aged 27.
With guitarist Michael Lockwood, whom she married in 2006 before separating in 2016 and divorcing in 2021, she had twins Harper and Finley, now 14 years old.
Riley, Harper and Finley won't become billionaires overnight, however.
Their mother was certainly very well off, she lived in the upscale Calabasas neighborhood north of Malibu, but she always lived beyond her means.
Upon his death, she only owned the walls of Graceland, the items within, and 15% of the rights to Elvis's name, likeness, and intellectual property.
The remaining 85% is owned by New York giant Authentic Brands Group (ABG).
Second most visited property in the United States behind the White House, Graceland receives 600,000 visitors a year.
The entrance costs between 27 and 196 dollars per person, an expense to which must be added the derivative products, such as the Hawaiian shirt at 40 dollars.
According to Graceland spokesperson Riley,
With the global success of Baz Lurhmann's biopic and fan visits to the grave of Lisa Marie Presley buried near her father on the family estate, attendance at Graceland is expected to increase significantly.
Millions reduced to a trickle
On streaming platforms, the music of Elvis is experiencing a marked resurgence of interest.
Even better: it attracts young people.
According to the American magazine
Forbes,
songs like
In the Ghetto
or
Suspicious Mind
generate an average turnover of 30 million dollars.
But Riley, Harper and Finley won't see those millions landing in their bank accounts.
As during Elvis's lifetime, the profits of the King's music are affected by the multinationals Sony Music and Universal Music.
It is entirely the fault of the King and his manager, the famous Colonel Parker.
In a catastrophic contract signed with RCA, Elvis no longer received royalties for all his songs released before 1973. That is to say the majority of his hits like
Don't Be Cruel
.
The King gave up this treasure for just $5.4 million.
He died at the age of 42, on August 16, 1977. In his will, what remained of his fortune went to Lisa Marie, her father Vernon and her grandmother Minnie Mae.
The latter two died shortly thereafter.
In 1980, at the age of 12, Lisa Marie became the sole heiress.
She will receive her inheritance when she turns 25, in 1993. Between fixed charges and taxes, Graceland costs half a million dollars a year.
The young woman's membership in Scientology sucks up a good part of her money.
His mother Priscilla takes charge.
Intelligent and well advised, she creates the company Elvis Presley Enterprises, ousts Colonel Parker and opens Graceland to the public.
For twenty-five years, the millions flowed.
In 2005, thunderclap.
Lisa Marie Presley has not been able to reduce her lifestyle.
Personally indebted, she sold 85% of the rights to Elvis for 100 million dollars.
The fans are screaming betrayal.
Read alsoTwenty photos of the “rock and shock” life of Lisa Marie Presley, Elvis' daughter, who disappeared on Thursday
However, over the next seventeen years, she always wanted to be present during the tributes paid to Elvis.
Whether at Graceland, at ceremonies like the Grammy Awards or at the premieres of Baz Lurhmann's biopic, Lisa Marie Presley has always done the "job" of representation very well.
His eldest Riley who has her career in the cinema is much less famous.
Harper and Finley are in high school.
At 77, their iconic grandmother Priscilla will have to continue to represent the family.
With his disappearance, the management of the posthumous career of Elvis risks becoming a real problem.
Neither Riley, nor Harper, nor Finley knew their grandfather.
