What was the estimated Value of Elvis's Estate?

[MissyM]

I forgot the exact figures. I remember thinking (in hindsight of course) that is was remarkably low.
Why do you think that was. Did people just not get how much he was loved and would remain so marketable?
I can't say I know how people go about making these valuations but I keep thinking, in 2004 Lisa sold 85% for 100 mill. and that sure is some huge appreciated value.

[ehollier]

I forgot the exact figures. I remember thinking (in hindsight of course) that is was remarkably low.
Why do you think that was. Did people just not get how much he was loved and would remain so marketable?
I can't say I know how people go about making these valuations but I keep thinking, in 2004 Lisa sold 85% for 100 mill. and that sure is some huge appreciated value.

The value of Graceland was under $1 million at the time of his death. The upkeep (i.e. utilities, insurance, maintenance, etc.) on Graceland was expensive. Don't forget, he also his airplane(s), cars, relatives to take care of after his death - which all require insurance, maintenance, etc.) I think that estimated upkeep of his estate was $500,000, which was an incredible chunk of change.

Also, his music valuations weren't as high because he wasn't selling as many albums as he had been selling in the earlier part of the 70's. So, since his catalogue wasn't as valuable, his entire net worth (net worth is before taxes and expenses) was considerable less than it would have been as compared today.

Don't forget, he spent copious amounts of money on gifts for himself and others which kept his bank accounts depleted; therefore, there wasn't as much cash on hand as many thought.

[MissyM]

It's mindboggling in a way don't you think, compaing what he is worth now??

[ehollier]

It's mindboggling in a way don't you think, compaing what he is worth now??

Oh Gosh.....it is....but think of what's happened in the last 31 years since his death......

He's almost had an entire other career.......his popularity has soared beyond what anyone ever imagined which draws people to his home, to his music, to buy his movies, see him LIVE in concert again......

Think about this: he started his career in 1954, got another shot after his army years in 1960, got another breath of life in 1968/69, and again after his death. Most musicians are lucky if they can pull off one career, but Elvis has endured all of this time and is still topping polls, magazine covers, and charts.............

Yes Missy, I would say that he is absolutely AMAZING!!!!!!!!!!!!

[KPM]

The value of Graceland was under $1 million at the time of his death. The upkeep (i.e. utilities, insurance, maintenance, etc.) on Graceland was expensive. Don't forget, he also his airplane(s), cars, relatives to take care of after his death - which all require insurance, maintenance, etc.) I think that estimated upkeep of his estate was $500,000, which was an incredible chunk of change.

Also, his music valuations weren't as high because he wasn't selling as many albums as he had been selling in the earlier part of the 70's. So, since his catalogue wasn't as valuable, his entire net worth (net worth is before taxes and expenses) was considerable less than it would have been as compared today.

Don't forget, he spent copious amounts of money on gifts for himself and others which kept his bank accounts depleted; therefore, there wasn't as much cash on hand as many thought.

Well his musical catalogue was next to nothing since RCA owned all his pre 73 recordings and paid nothing to him or his estate in royaltees for them.
Here an excerpt from an Alanna Nash article on this subject which says alot:
http://www.bankrate.com/brm/news/advice/20040108a1.asp
Yet, when Elvis left the building on August 16, 1977, he was mired in financial quagmires, and sometimes resorted to mortgaging Graceland to make his payroll. Colonel Tom Parker, Presley's manager, advanced the estate $1 million to make it look as if Elvis had some cash in his depleted checking account. In truth, the singer's years of gargantuan spending sprees (Cadillacs for strangers, houses for girlfriends, and an arsenal of guns for his cohorts) had left him strapped, as had his 1973 divorce from his wife, Priscilla.

But Presley's biggest financial liability was Parker himself, who systematically siphoned off far more than the usual 15 to 25 percent of his client's earnings. By the late '60s, Parker had forced Presley into a contracted 50/50 split. But through double dipping, the Colonel got his 50 percent and all but about 22 percent of Elvis' half, too.

Parker had always figured out a way to make more money than his client, whether through song publishing, souvenirs, or side deals with Presley's record company and movie studios. Then, when he formed Boxcar, a merchandising company, with Presley in the early '70s, he took 56 percent control, apart from his 50 percent commission. Some estimates have concluded that the Colonel wound up with nearly 78 percent of Elvis' name and likeness -- a highly valuable commodity, considering Presley's obviously failing health.
No wonder Mike Stoller, the co-writer of many Presley hits, says, "The Colonel's only interest was the Colonel's. Elvis was merely a vehicle for the Colonel's greed.........

[Unchained Melody]

Thanks for posting that Ken..sure says alot about the Colone...78 percent..mindboggling..

[ehollier]

Well his musical catalogue was next to nothing since RCA owned all his pre 73 recordings and paid nothing to him or his estate in royaltees for them.
Here an excerpt from an Alanna Nash article on this subject which says alot:
http://www.bankrate.com/brm/news/advice/20040108a1.asp
Yet, when Elvis left the building on August 16, 1977, he was mired in financial quagmires, and sometimes resorted to mortgaging Graceland to make his payroll. Colonel Tom Parker, Presley's manager, advanced the estate $1 million to make it look as if Elvis had some cash in his depleted checking account. In truth, the singer's years of gargantuan spending sprees (Cadillacs for strangers, houses for girlfriends, and an arsenal of guns for his cohorts) had left him strapped, as had his 1973 divorce from his wife, Priscilla.

But Presley's biggest financial liability was Parker himself, who systematically siphoned off far more than the usual 15 to 25 percent of his client's earnings. By the late '60s, Parker had forced Presley into a contracted 50/50 split. But through double dipping, the Colonel got his 50 percent and all but about 22 percent of Elvis' half, too.

Parker had always figured out a way to make more money than his client, whether through song publishing, souvenirs, or side deals with Presley's record company and movie studios. Then, when he formed Boxcar, a merchandising company, with Presley in the early '70s, he took 56 percent control, apart from his 50 percent commission. Some estimates have concluded that the Colonel wound up with nearly 78 percent of Elvis' name and likeness -- a highly valuable commodity, considering Presley's obviously failing health.
No wonder Mike Stoller, the co-writer of many Presley hits, says, "The Colonel's only interest was the Colonel's. Elvis was merely a vehicle for the Colonel's greed.........

I've read this article before, Ken. It always seems to stir up quite a bit of ire among the members here, which is why I didn't post the link. But thanks for it anyway. I never get tired being reminded of Elvis' popularity all of these years since his death.

[KPM]

I've read this article before, Ken. It always seems to stir up quite a bit of ire among the members here, which is why I didn't post the link. But thanks for it anyway. I never get tired being reminded of Elvis' popularity all of these years since his death.

I assure you I do not want to draw anyones ire-but it seems very relevent to what Elvis's estate was worth at his death. Col. Parker took advantage of Elvis-and it took the Memphis courts to bring it all to light-after Elvis died.
Parker may have loved and cared for Elvis (in his own way) yet the tangled web of business between the 2 shows he took the lions share in most deals. Ire should only be drawn -because Elvis trusted this man to TCB fairly and honestly.
IMO Elvis mostly believed Parker always had Elvis's best interests at heart. The fact is that has been shown to have not always been the case-that should draw the ire. IMO.