Elvis Presley: the fortune left behind
How rich was Elvis Presley?
Even in the grave, Elvis Presley, one of the most famous musicians of all time, is still a rich man. Elvis Presley’s bequest is 250 million euros. Thanks to the music rights and films in which Elvis took part, an annual turnover of around 30 million euros is generated long after his death, from which his heirs still benefit. On the list of top earners who have already died, Elvis is in second place behind the King of Pop, Michael Jackson.
Lisa Marie Presley is reportedly broke despite inheritance
The court documents give the answer. There the accusation of mismanagement and embezzlement is loud. The ex-husband and business partner, who in retrospect turned out to be untrustworthy, are to blame. So from a fund of $ 100 million that was set up in 2018, only $ 14,000 remained. Fortunately, at least the ruble kept rolling. Because Elvis’ songs are true evergreens. Although the singer died in the USA in 1977, his songs are still played up and down around the globe. Many fans still celebrate Elvis today – even though they were not even born during the lifetime of this music legend. This creates annual new incomethat Elvis Presley’s heirs will benefit.
Why are Elvis’ heirs still earning Presley today?
Elvis Presley got the same during his short life of just 42 years recorded more than 700 songs. This is also a financial blessing for the heirs as it allows them to continue to earn money from him. As soon as the radio or television plays a song by Elvis, the cash registers ring. One billion records sold are due to this gifted artist. Even the artists who are currently still on earth can hardly reach these numbers and sales.
Sony also benefits from the Elvis legacy
All of this is even more astonishing when you consider that Elvis was considered a rather poor businessman during his lifetime. Only 15 percent of the company shares in the Elvis Presley empire remained with Lisa Marie Presley. Although she is the only daughter of the gifted singer and actor with a strong character, she only holds a small stake. In the meantime there are also people who are not related to the King at all but who still reap the fruits of his unmistakable talent. Sony, one of the giants in the music business, is also getting rich thanks to Elvis. This is due to the fact that Elvis simply lacked the necessary foresight as a businessman. He had already sold the rights to hundreds of songs to his record label during his lifetime. Elvis Presley brought in just 5.4 million dollars – in retrospect nothing more than a ridiculous price!
Image sources:
Cover picture: gors4730 / Bigstock.com
Elvis Presley: By Ollie Atkins, in the public domain via Wikimedia Commons
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