Elvis was back in the news recently. His daughter with first wife Priscilla, Lisa Marie, died January 12th in Los Angeles. Lisa Marie was the sole heir to her father’s estate and her three daughters, Riley, Harper and Finley, will inherit Elvis’s Tennessee mansion, Graceland. The estate was left to Lisa Marie in trust when she was 9 years old in 1977, the year her father died. The trust officially dissolved on her 25th birthday in 1993 giving her full ownership of Graceland after which she formed the Elvis Presley Trust to manage the property. Graceland is open for a variety of tours and even overnight stays in the resort hotel, the Guesthouse at Graceland. According to Forbes Magazine, Elvis Presley’s estate makes him one of the wealthiest dead celebrities today. The majority of the money comes from Graceland, which reportedly earns around $10 million (US) in a typical year. There’s also licensing, music and more. However, I read a National Post story from a few days ago that indicated at the time of her passing Lisa Marie only owned a small portion, 15%, of her father’s estate as her business manager had sold most of her shares back in 2005 because she was deeply in debt. The story said she had recently been spending $92,000 per month before her death but it didn’t specify where the money was going. You never know what to believe when you read about lifestyles of the so-called rich and famous but may Elvis’s daughter rest in peace and we do know the name and legend of the King of Rock & Roll will endure.
That’s Coffeetalk. I’m Vic Dubois.
