Stories

The Real Reason Lisa Marie Presley Doesn’t Own Elvis Presley’s Royalties

ADVERTISEMENT

When Lisa Marie Presley turned 25, she became the owner of her father, Elvis Presley‘s estate. When Elvis’s father and grandmother died, their amounts of the will also went to Lisa Marie. However, it turns out she does not own the royalties from her father’s music career.

Unfortunately, this was due to a bad deal by Elvis’s former manager, Colonel Tom Parker. Elvis first signed a contract with Sam Phillips at Sun Records in 1954. Later, Sam sold the catalog of songs to RCA Records.

ADVERTISEMENT

Lisa Marie doesn’t get her father’s music royalties

ELVIS PRESLEY / SUPPLIED BY SN/GLOBE PHOTOS, INC.

In 1973, Colonel Tom got a deal for himself and Elvis. Instead of receiving future royalties, they received a lump sum for anything recorded up to that time. They split $5.4 million, which would be around $31.5 million today. So, Lisa Marie does not own any royalties on sales of recordings made before 1973 when the deal was made.

ADVERTISEMENT

RELATED: Lisa Marie Presley Felt Father’s Helping Hand When Recording “Where No One Stands Alone”

Lisa Marie Presley / Byron Purvis/AdMedia

However, the rest of the royalties are owned by the Elvis Presley Enterprises (EPE). In 2005, Lisa Marie sold 85 percent of her shares of EPE to an entertainment company called CKX. She still has the sole ownership of Graceland and everything inside the home.

It is crazy to think about how much Lisa Marie could make these days if Colonel Tom had not sold most of the royalties! In conclusion, listen to Lisa Marie talk about her beloved father below:

Show comments
Share
Published by

Recent Posts

Valerie Bertinelli Credits Weight Loss To One Thing

Valerie Bertinelli is opening up about her recent weight loss and the one thing that…

1 hour ago

The Secrets We Never Knew About ‘The Johnny Carson Show’

*FAQs at the bottom of article* UPDATED 2/8/2023 The Tonight Show Starring Johnny Carson was…

4 hours ago

The Sad, Strange Story Of Jungle Jim & Jungle Pam

*FAQs at the bottom of article* UPDATED 2/8/2023 The world of funny car drag racing…

5 hours ago

David Hasselhoff’s Daughter, Taylor, Ties The Knot! See The Photos

The Aaron Kirman Group luxury real estate agent and CEO, who also doubles as the…

5 hours ago

The Cast Of ‘Family Affair’ Then And Now 2023

UPDATED 2/8/2023 Imagine enjoying the single life and taking things at your own leisurely pace,…

5 hours ago

‘Today’ Host Savannah Guthrie Shows Off ‘Edgy’ New Haircut And Tattoo

For Savannah Guthrie, getting a new haircut every year is a tradition she abides by…

6 hours ago