Elvis Presley left behind more than just his music when he passed away in 1977. His business empire, known as Elvis Presley Enterprises (EPE), has gone through several ownership changes since its creation. Many fans wonder who controls the King of Rock and Roll’s legacy today.
Elvis Presley Enterprises was wholly owned by the Elvis Presley Trust and Lisa Marie Presley until 2005. In 2005, businessman Robert F.X. Sillerman acquired a majority stake in the company. After this acquisition, ownership has shifted several times, with significant changes occurring in 2013. Graceland Holdings LLC took control of an 85% stake in the business. Following Lisa Marie Presley’s death, her daughter Riley Keough became the sole owner of Graceland, Elvis’s iconic Memphis estate.
The story of who owns Elvis Presley’s business interests involves family drama, business deals, and the preservation of a cultural legacy that continues to attract hundreds of thousands of visitors to Graceland each year. Understanding who controls EPE helps us see how Elvis’s influence continues to shape popular culture nearly five decades after his death.
Key Takeaways
- Elvis Presley Enterprises changed from family ownership to corporate control in 2005, with further ownership changes following in later years.
- Graceland, Elvis’s famous Memphis home, is now owned solely by his granddaughter Riley Keough.
- The business operations of Elvis’s legacy generate millions in revenue through tourism, merchandise, and licensing deals.
History of Elvis Presley Enterprises
Elvis Presley Enterprises (EPE) has evolved from a small organization managing the late star’s estate into a major entertainment company. This transformation involved careful management of Elvis’s legacy and expansion into various business ventures.
Formation and Early Years
After Elvis Presley’s death in 1977, his estate faced serious financial challenges. By 1979, the situation had become so dire that selling Graceland was considered as an option.
The turning point came in 1981 when Elvis Presley Enterprises was formally established as a for-profit company to manage the assets of Elvis’s estate. This smart business move helped save Graceland and preserve Elvis’s legacy.
Priscilla Presley played a key role in the early years of EPE. She became the chairwoman of the company and made the bold decision to open Graceland to the public in 1982. This decision proved extremely successful and helped stabilize the estate’s finances.
The Elvis Presley Trust owned EPE, with Lisa Marie Presley as the primary beneficiary. Jack Soden was appointed as CEO, a position he would hold for many years.
Expansion and Business Ventures
Throughout the 1980s and 1990s, EPE grew significantly by licensing Elvis’s image and expanding merchandise operations. They created numerous product lines featuring Elvis’s name and likeness.
The company developed the area around Graceland, adding hotels, restaurants, and entertainment venues to create a complete tourist destination. Graceland quickly became one of the most visited private homes in America, second only to the White House.
A major change came in 2005 when the ownership structure shifted. Previously, EPE was wholly owned by the Elvis Presley Trust/Lisa Marie Presley, but in 2005, Lisa Marie sold a significant portion of the business.
In later years, Authentic Brands Group acquired the rights to Elvis Presley’s intellectual property. Under this new ownership, EPE continued to manage Graceland operations while expanding into digital media, exhibitions, and live events featuring Elvis’s legacy.
Ownership Over the Years
Elvis Presley Enterprises (EPE) has changed hands several times since it was established after Elvis’s death in 1977. The company manages Graceland and controls the rights to Elvis’s image and intellectual property.
Priscilla Presley’s Role
After Elvis Presley died in 1977, Priscilla Presley played a crucial role in preserving his legacy. She became the executor of Elvis’s estate on behalf of their daughter, Lisa Marie Presley, who was only 9 years old at the time.
In 1979, Priscilla made a bold decision that would change everything. She opened Graceland to the public in 1982, transforming Elvis’s home into a profitable tourist attraction when the estate was facing financial troubles.
Under Priscilla’s leadership, Elvis Presley Enterprises was established to manage Graceland operations and Elvis’s image rights. Her business savvy helped turn the struggling estate, which was worth only around $1 million after Elvis’s death, into a thriving enterprise worth over $100 million by the mid-1990s.
Lisa Marie Presley’s Inheritance
When Lisa Marie Presley turned 25 in 1993, she inherited her father’s estate and became the owner of Elvis Presley Enterprises. As the sole heir to Elvis’s fortune, Lisa Marie took control of Graceland and all rights to her father’s name and image.
Lisa Marie served as the owner and chairperson of the EPE board until 2005. During her ownership, she continued the work her mother started, maintaining Graceland as a popular tourist destination that celebrates Elvis’s life and career.
The Elvis Presley Trust was created to manage these assets, with Lisa Marie as the primary beneficiary. This trust structure helped protect the valuable Elvis brand while generating income through merchandising, licensing, and tourism.
Transition of Ownership
In 2005, a major shift occurred when Lisa Marie sold 85% of Elvis Presley Enterprises’ assets. The buyer was businessman Robert F.X. Sillerman’s company CKX, which paid $114 million for the controlling interest in EPE.
The deal was structured carefully – the Presley family retained ownership of Graceland itself and its original contents. The sale only included the business operations and rights to Elvis’s name and likeness.
Ownership changed again in 2013 when Authentic Brands Group (ABG) acquired Elvis Presley Enterprises. Under ABG, EPE has continued to grow and evolve while maintaining respect for Elvis’s legacy.
According to experts, EPE couldn’t be in better hands than under ABG’s ownership with management by longtime Elvis business associates. The Presley family still maintains connections to the business, ensuring Elvis’s legacy continues to be protected.
Elvis Presley’s Legacy
Elvis Presley’s legacy continues to thrive through careful management of his estate and his lasting impact on music and culture. The King of Rock and Roll left behind not just hit records but a business empire that celebrates his contributions to American entertainment.
Preserving the King’s Heritage
Elvis Presley’s legacy is primarily managed through Elvis Presley Enterprises, a corporate entity created by “The Elvis Presley Trust” to handle business operations and manage assets, including Graceland. After Lisa Marie Presley’s management of her father’s estate, ownership has shifted over the years.
In 2013, Authentic Brands Group acquired Elvis Presley Enterprises in partnership with Joel Weinshanker, who now operates Graceland. This transition marked a significant change in who controls the King’s legacy.
The Elvis Presley Trust continues to manage Graceland and other Elvis assets. Lisa Marie retained 15% ownership in Elvis Presley Enterprises following earlier deals that included a 90-year lease arrangement.
Cultural Impact
Elvis’s influence extends far beyond business arrangements. His music revolutionized American culture by blending different musical styles and breaking racial barriers in the 1950s.
Graceland welcomes over 600,000 visitors annually, making it one of the most visited private homes in America. This Memphis mansion serves as both a museum and a pilgrimage site for fans worldwide.
Elvis’s image and music continue to generate millions in revenue through:
- Licensing deals for merchandise
- Music royalties from his extensive catalog
- Movie rights from his films
- Special events like Elvis Week
Recent films and documentaries have introduced Elvis to new generations, keeping his legend alive nearly five decades after his death. His distinctive voice, performing style, and charisma continue to inspire contemporary artists across musical genres.
Graceland: The Iconic Estate
Graceland stands as one of the most famous homes in America, drawing hundreds of thousands of visitors each year. The 13.8-acre estate in Memphis, Tennessee represents Elvis Presley’s legacy and has become a significant cultural landmark since opening to the public.
The House of Elvis
Elvis Presley purchased Graceland in 1957 for $102,500. This stunning mansion served as his home until his death in 1977. The property features 23 rooms, including the famous Jungle Room with its green shag carpet and Polynesian-inspired décor.
The mansion showcases Elvis’s unique taste with its:
- Blue and gold living room
- Mirrored staircase walls
- White grand piano
- TV room with three televisions
After Elvis died, the estate remained in the family. Lisa Marie Presley inherited Graceland in 1993 when she turned 25. Following her death in 2023, her daughter Riley Keough became the sole owner of Graceland.
Riley has shared fond memories of spending time at Graceland as a child, helping preserve the personal connection to Elvis’s legacy.
Tourism and Attractions
Graceland opened to the public in 1982. It quickly became one of America’s most popular home tours. The estate welcomes over 600,000 visitors annually, making it the second most-visited house in America after the White House.
The tour includes the mansion’s first floor and basement. It also includes Elvis’s car collection, his two custom airplanes, and multiple museums containing his costumes and memorabilia.
In 2017, Elvis Presley Enterprises opened a $45 million entertainment complex called “Elvis Presley’s Memphis.” This 200,000-square-foot facility houses restaurants, gift shops, and exhibition spaces featuring artifacts from Elvis’s career.
Graceland hosts special events throughout the year, including the annual Elvis Week celebration in August. This event draws thousands of fans from around the world to commemorate Elvis’s life and legacy.
Heartbreak Hotel
The Heartbreak Hotel, named after Elvis’s hit song, opened near Graceland in 1999 as a themed accommodation for visitors. The hotel featured Elvis-inspired décor and memorabilia throughout its lobby and guest rooms.
Guests could choose from standard rooms with Elvis artwork, luxury suites themed after Elvis’s favorite places, and the “Burning Love” suite with heart-shaped furniture.
In 2016, the original Heartbreak Hotel closed to make way for a new, larger facility. The Guest House at Graceland, a 450-room resort hotel, replaced it as the premier lodging option for Graceland visitors.
This AAA four-diamond resort continues the Elvis theme in a more subtle, upscale way. It includes restaurants, meeting spaces, and a theater for live performances, giving fans a place to immerse themselves in the Elvis experience even after touring the mansion.
The Family Tree and Current Heirs
Elvis Presley’s legacy lives on through his family members who have played crucial roles in managing his estate. The ownership of Elvis Presley Enterprises has changed hands within the family over the years.
Descendants and Their Roles
Elvis and Priscilla Presley had one child, Lisa Marie Presley, who became a central figure in preserving her father’s legacy. When Elvis died, his estate was placed in a trust. Lisa Marie inherited Graceland in 1993 when she turned 25, becoming the sole owner of her father’s beloved home.
In 2005, there was a significant change when Lisa Marie sold a portion of Elvis Presley Enterprises to Robert F.X. Sillerman, though she maintained ownership of Graceland itself.
Following Lisa Marie’s passing, her daughter Riley Keough (Elvis’s granddaughter) became the new heir. A Los Angeles judge officially approved Riley as the sole heir of Lisa Marie’s estate and the new owner of Graceland.
Priscilla Presley, Elvis’s former wife, has also been involved in preserving his legacy through various business ventures related to the Presley brand.
Business Operations
Elvis Presley Enterprises (EPE) manages a vast array of business activities centered around the Elvis Presley brand. The company oversees everything from intellectual property rights to merchandising deals that keep the King of Rock and Roll’s legacy alive and profitable.
Managing Elvis Presley’s Intellectual Property
EPE carefully protects and leverages the intellectual property associated with Elvis Presley. This includes his name, image, likeness, and other assets that make up the Elvis brand. The company was originally wholly owned by the Elvis Presley Trust/Lisa Marie Presley until 2005.
Today, ownership has changed hands. CORE Media Group acquired an 85% interest in EPE, while the Presley family maintained a minority stake. Later, Authentic Brands Group completed a purchase of Elvis Presley’s intellectual property and Graceland operations.
EPE manages several key intellectual property assets:
- Music catalog rights
- Film rights and appearances
- Photographic images
- Voice recordings
Merchandising and Licensing
EPE runs a thriving merchandising and licensing program. Elvis’s image is put on everything from t-shirts to collectibles. The company carefully selects partners to create products that honor Elvis’s legacy. The goal is to appeal to both longtime fans and newer generations.
Licensing deals span multiple categories including:
- Apparel and fashion accessories
- Home décor and collectibles
- Entertainment (films, documentaries)
- Music reissues and compilations
- Limited edition collaborations with premium brands
Graceland itself serves as both tourist destination and merchandising hub. The Memphis estate welcomes hundreds of thousands of visitors annually. Gift shops offer exclusive Elvis merchandise.
EPE also operates an online store that ships Elvis products worldwide. This creates a global reach for the brand beyond physical locations.
