Graceland, the iconic mansion in Memphis, Tennessee, that was once the home of Elvis Presley, is one of the world's most visited historic homes. Elvis purchased Graceland in 1957, and it remained his residence until his death in 1977. Since then, Graceland has been owned by various entities, including Elvis's estate, his former wife Priscilla Presley, and a series of corporations.
In 1982, Priscilla Presley opened Graceland to the public as a museum, and it has since become a major tourist attraction. Graceland is now owned by Elvis Presley Enterprises, Inc. (EPE), which is a private company that is controlled by Priscilla Presley and her daughter, Lisa Marie Presley. EPE also manages Graceland's various business ventures, including the hotel, the restaurants, and the gift shops.
The ownership of Graceland has been the subject of much controversy and litigation over the years. In 1994, Lisa Marie Presley sued her mother, Priscilla Presley, for control of EPE. The lawsuit was eventually settled, and Lisa Marie Presley was awarded full ownership of the company. However, she later sold a controlling interest in EPE to a group of investors, which led to another lawsuit from Priscilla Presley. The lawsuit was eventually dropped, and the investors now own a majority stake in EPE.
Who Owns Graceland
Graceland's ownership history is complex and has been the subject of legal disputes.
- Elvis Presley purchased Graceland in 1957.
- Elvis's estate inherited Graceland after his death in 1977.
- Priscilla Presley opened Graceland to the public in 1982.
- Elvis Presley Enterprises (EPE) now owns Graceland.
- Lisa Marie Presley and Priscilla Presley control EPE.
Graceland is one of the most visited historic homes in the United States.
Elvis Presley purchased Graceland in 1957.
Elvis Presley purchased Graceland, a 13.8-acre estate in Memphis, Tennessee, on March 17, 1957, for the price of $102,500. Elvis was just 22 years old at the time, and he had recently achieved international fame with his hit song "Heartbreak Hotel." He was looking for a place to escape the pressures of his newfound stardom, and he found it in Graceland.
Graceland was built in 1939 by Dr. Thomas Moore, a prominent Memphis physician. The mansion is a 23-room, two-story Colonial Revival-style home with a white-columned portico and a large front lawn. Elvis made a number of changes to the property after he purchased it, including adding a swimming pool, a tennis court, and a racquetball court. He also redecorated the interior of the mansion in a lavish style that reflected his personality and his love of music.
Elvis lived at Graceland for 20 years, until his death in 1977. During that time, Graceland became a symbol of Elvis's fame and wealth. It was also a place where he could relax and spend time with his family and friends. Elvis loved Graceland, and he often said that it was his "home away from home." After Elvis's death, Graceland was opened to the public as a museum, and it has since become one of the most popular tourist attractions in the United States.
Graceland is now owned by Elvis Presley Enterprises (EPE), a private company that is controlled by Elvis's daughter, Lisa Marie Presley. EPE also manages Graceland's various business ventures, including the hotel, the restaurants, and the gift shops.
Elvis's estate inherited Graceland after his death in 1977.
Elvis Presley died on August 16, 1977, at the age of 42. He left behind a vast estate, including Graceland, his beloved Memphis mansion. Elvis's will stipulated that his estate would be placed in a trust, with the income from the trust being used to benefit his daughter, Lisa Marie Presley. Lisa Marie was just nine years old when her father died, and she did not inherit Graceland outright until she turned 25.
- Elvis's will created a trust to manage his estate.
The trust was overseen by a group of trustees, who were responsible for managing Elvis's assets and distributing the income from the trust to his beneficiaries.
- Lisa Marie Presley was the primary beneficiary of the trust.
She was entitled to receive the income from the trust during her lifetime, and she would inherit the principal of the trust when she turned 25.
- Graceland was one of the most valuable assets in Elvis's estate.
The mansion was worth an estimated $500,000 at the time of Elvis's death, and it has since become even more valuable. Graceland is now one of the most popular tourist attractions in the United States, and it generates millions of dollars in revenue each year.
- Lisa Marie Presley inherited Graceland in 1994.
When she turned 25, Lisa Marie Presley took control of Elvis's estate, including Graceland. She has since overseen the management of Graceland and its related businesses.
In 2005, Lisa Marie Presley sold a majority stake in Elvis Presley Enterprises (EPE), the company that manages Graceland, to a group of investors. However, she retained a significant ownership stake in EPE, and she remains the controlling owner of Graceland.
Priscilla Presley opened Graceland to the public in 1982.
After Elvis Presley's death in 1977, Graceland became a popular tourist destination for fans of the King of Rock and Roll. However, the mansion was not open to the public on a regular basis. In 1982, Priscilla Presley, Elvis's former wife, decided to open Graceland to the public as a museum. She felt that this would be a way to share Elvis's legacy with his fans and to help preserve the mansion for future generations.
- Priscilla Presley wanted to share Elvis's legacy with his fans.
She believed that opening Graceland to the public would be a way to allow fans to see where Elvis lived and worked, and to learn more about his life and career.
- Priscilla Presley also wanted to help preserve Graceland for future generations.
The mansion was in need of repairs and renovations, and Priscilla Presley believed that opening it to the public would generate the revenue needed to keep Graceland in good condition.
- Priscilla Presley worked with a team of experts to prepare Graceland for its opening to the public.
They restored the mansion to its original condition, and they created exhibits that told the story of Elvis's life and career. They also added a number of amenities for visitors, such as a gift shop and a restaurant.
- Graceland opened to the public on June 7, 1982.
The opening was a huge success, and Graceland quickly became one of the most popular tourist attractions in the United States. Visitors from all over the world come to Graceland to see where Elvis lived and to learn more about his life and career.
Priscilla Presley's decision to open Graceland to the public has been praised by Elvis fans and historians alike. Graceland is now a National Historic Landmark, and it is one of the most visited historic homes in the United States.
Elvis Presley Enterprises (EPE) now owns Graceland.
Elvis Presley Enterprises (EPE) is a private company that manages Graceland and its related businesses. EPE was founded in 1971 by Elvis Presley and his father, Vernon Presley. The company was originally called Elvis Presley Enterprises, Inc., but it changed its name to Elvis Presley Enterprises in 1998. EPE is now owned by Lisa Marie Presley, Elvis's daughter, and a group of investors.
EPE is responsible for managing all aspects of Graceland, including the mansion itself, the grounds, and the various businesses that operate on the property. EPE also manages Elvis's music catalog, his merchandising rights, and his other intellectual property. The company generates revenue from ticket sales, tours, merchandise sales, and licensing fees.
EPE has been instrumental in preserving Graceland and Elvis's legacy. The company has invested millions of dollars in restoring and maintaining the mansion, and it has also created a number of exhibits and attractions that tell the story of Elvis's life and career. EPE has also worked to promote Elvis's music and to keep his name in the public eye.
EPE is a successful company that has helped to ensure that Graceland remains one of the most popular tourist attractions in the United States. The company has also played a key role in preserving Elvis Presley's legacy and in keeping his music alive for future generations.
In addition to Graceland, EPE also owns and operates a number of other businesses, including the Elvis Presley Museum in Memphis, Tennessee, the Elvis Presley's Heartbreak Hotel hotel in Memphis, and the Elvis Presley's Graceland Crossing shopping center in Memphis. EPE also licenses Elvis's name and image for use on a variety of products, including clothing, jewelry, and home goods.
Lisa Marie Presley and Priscilla Presley control EPE.
Lisa Marie Presley and Priscilla Presley are the two largest shareholders of Elvis Presley Enterprises (EPE). Lisa Marie Presley owns a majority stake in the company, while Priscilla Presley owns a significant minority stake. This gives them effective control over EPE and its various businesses, including Graceland.
Lisa Marie Presley is the only child of Elvis Presley, and she inherited his estate after his death in 1977. She has been involved in the management of EPE since she was a young woman, and she has served as the company's chairman and CEO at various times. Priscilla Presley was married to Elvis Presley from 1967 to 1973, and she has been involved in the management of EPE since its inception. She has served as the company's president and COO, and she is currently a director of the company.
Lisa Marie Presley and Priscilla Presley have worked together to preserve Elvis Presley's legacy and to keep his music alive for future generations. They have overseen the restoration and maintenance of Graceland, and they have created a number of exhibits and attractions that tell the story of Elvis's life and career. They have also worked to promote Elvis's music and to keep his name in the public eye.
Lisa Marie Presley and Priscilla Presley are both passionate about Elvis Presley's legacy, and they are committed to ensuring that Graceland remains a popular tourist attraction and a place where fans can come to learn about Elvis's life and career. They are also committed to keeping Elvis's music alive for future generations.
In addition to their roles at EPE, Lisa Marie Presley and Priscilla Presley are also involved in a number of other business ventures. Lisa Marie Presley is a singer and songwriter, and she has released several albums. Priscilla Presley is an actress and businesswoman, and she has starred in a number of films and television shows. She is also the owner of a clothing line and a home goods store.
FAQ
Here are some frequently asked questions about who owns Graceland:
Question 1: Who currently owns Graceland?
Answer 1: Elvis Presley Enterprises (EPE) currently owns Graceland.
Question 2: Who controls EPE?
Answer 2: Lisa Marie Presley and Priscilla Presley control EPE. Lisa Marie Presley owns a majority stake in the company, while Priscilla Presley owns a significant minority stake.
Question 3: How did Lisa Marie Presley inherit Graceland?
Answer 3: Lisa Marie Presley inherited Graceland after her father, Elvis Presley, died in 1977. Elvis Presley's will stipulated that his estate would be placed in a trust, with the income from the trust being used to benefit Lisa Marie Presley. She inherited Graceland outright when she turned 25.
Question 4: Why did Priscilla Presley open Graceland to the public?
Answer 4: Priscilla Presley opened Graceland to the public in 1982 because she wanted to share Elvis Presley's legacy with his fans and to help preserve the mansion for future generations.
Question 5: What is EPE responsible for?
Answer 5: EPE is responsible for managing all aspects of Graceland, including the mansion itself, the grounds, and the various businesses that operate on the property. EPE also manages Elvis Presley's music catalog, his merchandising rights, and his other intellectual property.
Question 6: What are some of the other businesses that EPE owns?
Answer 6: In addition to Graceland, EPE also owns and operates the Elvis Presley Museum in Memphis, Tennessee, the Elvis Presley's Heartbreak Hotel hotel in Memphis, and the Elvis Presley's Graceland Crossing shopping center in Memphis. EPE also licenses Elvis's name and image for use on a variety of products, including clothing, jewelry, and home goods.
Question 7: How can I visit Graceland?
Answer 7: Graceland is open to the public daily. You can purchase tickets online or at the gate. Guided tours of the mansion are available, and there are also a number of other attractions and activities on the property, such as the Elvis Presley Automobile Museum and the Elvis Presley's Memphis restaurant.
Question 8: What are the hours of operation for Graceland?
Answer 8: Graceland is open daily from 9:00 AM to 5:00 PM. The last guided tour of the mansion begins at 4:00 PM.
{Closing Paragraph for FAQ}
We hope this FAQ has answered your questions about who owns Graceland. For more information, please visit the Graceland website.
Tips
Here are some tips for visiting Graceland:
Tip 1: Purchase your tickets online in advance.
This will allow you to skip the line at the gate and go straight to the mansion.
Tip 2: Arrive early in the morning.
This will give you plenty of time to tour the mansion and the other attractions on the property before the crowds arrive.
Tip 3: Take the guided tour of the mansion.
This is the best way to learn about Elvis Presley's life and career. The tour guides are very knowledgeable and they can answer any questions you have.
Tip 4: Visit the other attractions on the property.
In addition to the mansion, Graceland also has a number of other attractions, such as the Elvis Presley Automobile Museum, the Elvis Presley's Memphis restaurant, and the Elvis: The Entertainer Career Museum. You can easily spend a whole day exploring Graceland.
Tip 5: Allow plenty of time for your visit.
There is a lot to see and do at Graceland, so it is important to allow plenty of time for your visit. We recommend arriving at least two hours before your scheduled tour time.
{Closing Paragraph for Tips}
We hope these tips help you have a memorable visit to Graceland.
Conclusion
Graceland is one of the most popular tourist attractions in the United States, and it is easy to see why. The mansion is a beautiful and historic property, and it is filled with Elvis Presley memorabilia. Visitors can learn about Elvis's life and career by touring the mansion and the other attractions on the property.
Graceland is also a place where Elvis's fans can come to celebrate his legacy. The mansion is decorated with Elvis's awards and costumes, and there is a museum on the property that tells the story of his life and career. Fans can also visit Elvis's grave, which is located in the Meditation Garden on the property.
Graceland is a place that is special to Elvis Presley fans, and it is a place that everyone should visit at least once. It is a place where you can learn about Elvis's life and career, and it is a place where you can celebrate his legacy.
We hope this article has answered your questions about who owns Graceland. For more information, please visit the Graceland website.