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“Depending on the personality and leverage of the kids, even if there is enough liquidity in the estate to keep Graceland and pay out creditors, will they have enough cash left over to support it? At one point, taxes and maintenance expenses were costing Graceland over $500,000 a year, the mansion’s website claims. CKX Inc. subsequently sold the estate rights to the intellectual property firm Authentic Brands Group for $145 million.
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The mansion boasts 17,552 square feet of space and 23 rooms, including eight bedrooms and four bathrooms. Elvis also had rooms for his trophies, which are now on display in the first-floor museum portion of the property. Known for his love of cars, the property also features an extensive garage. It’s been 40 years since Graceland mansion first eased open its door to the public, beckoning to the line of curious visitors that they could—at long last—venture past the Corinthian columns and step into Elvis Presley’s private playground.
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There is no place on earth quite like Elvis Presley’s Graceland mansion. The superstar had a 20-year residency there from 1957 to 1977, treating the decor of his cherished Memphis, Tennessee, home as an outlet for his boundless creativity. Design trends spanning the eras—from ultra-thematic rooms to the burgeoning use of tech within the home—can all be found beyond the fabled music gates of Graceland, often in their purest and most authentic forms. And perhaps we visit Graceland not just as Presley or design devotees, but also because the house holds a mirror up to ourselves.
January 2023: Priscilla Presley disputed who would oversee daughter Lisa Marie Presley's estate
Rarely has such synergy between a celebrity and their home existed, with Presley treating Graceland as yet another creative outlet. Having purchased the house for $102,500 at the tender age of 22, Presley wasted no time orchestrating for local decorator George Golden to bring his grand vision to life. Priscilla Presley, who was married to Elvis and lived at Graceland for many years, recalls, “Before leaving for his next film, Elvis left plans for [Golden] on the color and fabric choices and layout of the furnishings.
When did Graceland open to the public?
Shortly after Lisa Marie's death, a representative for Graceland confirmed to People that the property would benefit Lisa Marie's three daughters, Riley Keough, 34, and twins Harper and Finley Lockwood, 14. Lisa Marie's mother, Priscilla Presley, challenged the will with a petition. In the petition, she specifically questioned a 2016 amendment that replaced her as a cotrustee with Riley and her late brother, Benjamin Keough. Graceland is again set to return to the silver screen with the release of Priscilla, written, directed, and coproduced by Sofia Coppola.
A highlight of any Graceland tour, the ornamental stained-glass peacocks that flank the open doorway between the living room and the music room were added by the Laukhuff Stained Glass Company of Memphis in 1974. Built and erected by the Tennessee Fabricating Co. and Memphis' Dillard Door Co. at a total cost of about $2,700, the famous custom-built gates of Graceland — a "special double drive way gate," to quote the work order — were installed on April 22, 1957. With their stylized representations of a guitar-strumming Elvis set against a pattern of musical staffs and notes, the gates suggest the entryway to a musical heaven. The gates were restored in 1990 by the National Ornamental Metal Museum. Graceland was declared a National Historic Landmark on March 27, 2006.
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Her cause of death was revealed as complications resulting from small bowel obstruction, according to the County of Los Angeles Medical-Examiner.
Lisa Marie Presley’s final resting place will be at Graceland by her late son’s side
The New York Post reports that she owed over $1 million in taxes at the time of her passing. Benny Roshan, chair of Greenberg Glusker’s Trusts and Probate Litigation Group, raised the possibility that her successors will have to deal with creditors or litigation claims. The issue that’s most likely to come up, Rahn added, is that Lisa Marie Presley’s daughters — now several generations removed from Elvis himself — may not want to keep their assets and could instead opt to cash out. But Lisa Marie’s inheritance is complicated by a financial history as fraught as that of any rock star, and things could keep changing as it passes on to the next generation. Paul McCartney visited Graceland on May 26, 2013, and tweeted a picture of himself leaving a guitar pick on Elvis' grave.
Estate
As of the summer of 2022, the cheapest available Graceland ticket that includes the mansion tour is $77 (or $44 for a kid, 5-10); yearly attendance is about 500,000. The eulogy was delivered by Jackie Kahane, a standup comic who opened many Presley concerts in the 1970s. At Vernon Presley's request, a public viewing of the body was held in the foyer of the mansion the day before, attracting 10,000 to 25,000 mourners.
With some 600,000 "guests" per year, the Elvis estate is the second most-visited "house museum" in the United States, according to Forbes. Elvis purchased Graceland — the house, the barn and the 13.8 acres of land — on March 19, 1957, for $102,500. The home's Whitehaven location was relatively isolated and rural, unlike Elvis' previous address at 1034 Audubon Drive in East Memphis.
Presley's grave, along with those of his parents Gladys and Vernon Presley, his grandmother Minnie Mae Presley, Elvis's daughter, Lisa Marie Presley, and his grandson Benjamin Keough are located in the Meditation Garden next to the mansion. They can be visited during the mansion tours or for free before the mansion tours begin. A memorial gravestone for Presley's stillborn twin brother, Jesse Garon, is also at the site. Lisa Marie Presley, the only daughter of Elvis Presley will be laid to rest at the singer's iconic mansion on Jan. 22, 10 days after she passed away at the age of 54.
Elvis bought Graceland for $100,000 in 1957, and at the time of his death 20 years later, it was reportedly worth $5 million. In May, Keough, Priscilla and Michael Lockwood—the father and guardian ad litem for Harper and Finley—settled the matter privately, with the "Daisy Jones & The Six" star being named the beneficiary of Lisa Marie's estate. Graceland welcomes over 600,000 visitors each year and is the most famous home in America after The White House. It was named to the American National Register of Historic Places in 1991. In the wake of Lisa Marie Presley's death at age 54 on Jan. 12, Graceland will be inherited by her three daughters—Riley Keough and Harper and Finley Lockwood—a representative for Graceland confirmed to E! "My family and I hope that everyone will grant us the privacy we have needed to properly grieve Lisa Marie and spend personal time together. We love and appreciate all of you and the Presley family is stronger than ever," she said in her statement.
Riley Keough named sole heir of mom Lisa Marie Presley's estate, new owner of Graceland - Page Six
Riley Keough named sole heir of mom Lisa Marie Presley's estate, new owner of Graceland.
Posted: Sat, 05 Aug 2023 07:00:00 GMT [source]
Again, it was the first rock-and-roll-related site to be so honored. Graceland was listed on the National Register of Historic Places on Nov. 7, 1991. Aside from being beautiful, Graceland was known as Elvis Presley's home after he purchased it from the Moores in spring 1957—when he was just 22 years old—for a bit more than $100,000.
He will be granted 1/9 of the trust; the rest will be split among Riley, Harper, and Finley, People reports. The agreement awaits approval by a judge in the Los Angeles Superior Court. If approved, the settlement would end months of legal battles over the Elvis estate's trust.
In 2005, Mr. Siegel sold an 85 percent stake in the Elvis Presley Estate. The stake included Elvis’s intellectual property, his image, likeness and the right to operate Graceland as a tourist attraction. In real life, 600,000 visitors visit the relatively modest Colonial Revival style property on the outskirts of Memphis annually. Arguably, Graceland remains one of the most significant homes of the 20th century, despite being written off as a kitsch fest in some quarters.
The following month, more details emerged about Lisa Marie's passing. Her cause of death was revealed as complications resulting from small bowel obstruction, according to the County of Los Angeles Medical-Examiner. Graceland Holdings LLC, led by managing partner Joel Weinshanker, is the majority owner of EPE. Lisa Marie Presley's estate retains a 15% ownership in the company. "He loved to watch football," the caption read, "and prime-time favorites like "Laugh-In", "The Untouchables", "The Tonight Show" and The "Match Game." When Presley first purchase the home it was 10,266 square feet.
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