The King of Rock and Roll, Elvis Aaron Presley, earned a lot through his acting and singing skills and lost it in various ways. Thus, he had a surprisingly lower net worth while dying on 16 August 1977 at forty-two. Moreover, his voice quality declined during his final years.
Born in Mississippi, Elvis was known for his sexually provocative singing style and energy. He changed the face of American popular culture. On the other hand, people saw him as a threat to the future of the US States due to the inclusion of sexuality in his performances, and several parents disliked him.
Elvis stated he was straight and lived clean, setting no bad example for the people. He knew he could not please everyone. His manager, Tom Parker, brought him several deals, which gradually trapped Elvis, and his career declined.
Net Worth
Elvis Presley’s Net Worth was $5 million ($20 million according to the current rate) when he took his last breath in 1977. He got a deal of $50,000 for the first time when Sullivan booked him for three appearances via his manager, Tom Parker. It is how Elvis became a national celebrity.
Besides his record sales, Elvis earned $22 million by selling his merchandise in December 1945. He charged $125,000 for his eight-minute-long guest appearance on The Frank Sinatra Timex Special in March 1960. The episode was broadcast two months later.
Tom Parker earned a lot while working under Elvis to the extent that several people considered it unethical and exploitation. For instance, the West End Theatre London Palladium offered him $28,000 ($223,000 as of now) for a week in 1969.
Elvis signed some contracts against his will under Tom’s influence. Tom allegedly focused on monetary supply rather than the quality of work. For instance, Tom allegedly negotiated with the brand new International Hotel, which opened in 1969, which made Elvis perform every February and August for five years.
Accordingly, the International Hotel (now called The Westgate Las Vegas Resort & Casino) would pay Elvis $1 million per year.
Where Did Elvis Presley’s Money Go?
Elvis allegedly charged $1 million for every performance. Moreover, his thirty-five singles and twenty-one albums topped the chart. Overall, his six hundred records were sold. Thus, his net worth of $5 million was lower than his overall earnings. Where did Elvis Presley’s money go?
Elvis lost his enormous money for real estate, divorce, drug addiction, and the freeloaders. He purchased a mansion worth $102,500 in Graceland in 1957. He spent more than $500,000 designing it inside out to stay away from his stepmom, who lived with his father in another house.
Elvis allegedly spent on women, amusement, tours, hotel bookings, dangerous games, and death threats from the morality groups. Elvis’s distant relatives and friends would often visit him in his good times.
Elvis’ close ones would allegedly spend his money on his behalf when he fell ill during his final years. Some even earned it by sharing his inside stories (after his death) and secret photographs of his funeral.
Elvis married Priscilla Beaulieu in 1967 and divorced in 1973 when he was on the verge of a downfall. Thus, he had to pay her spousal support, child support, $725,000, 5% of his publishing units, and half of the amount generated after selling his Beverly Hills.
Alcoholism ran in Elvis’ family, but he stayed away from drugs and alcohol for years. However, the table turned, and he allegedly died due to prescription drug abuse in August 1977. His health began deteriorating in 1973. Thus, Elvis’ renowned personal physician landed in a controversy for the prescription.
Amid all the chaos, Elvis fortunately made a will and left his property for his father, grandmother, and daughter. However, his father and grandmother died, and his ex-wife, Priscilla, controlled his estate. Later, his house was turned into a famous museum, attracting most tourists.
Death
Elvis had swollen cheeks, an overweight body, and a pale face during his final months. He fulfilled most touring commitments, though he would not remember his lyrics. Moreover, he could hardly stand while performing.
Elvis was supposed to go on a tour to Portland on 16 August 1977, the day he died. His girlfriend, fiancée Ginger Alden, found him dead in the toilet in the fetal position. A cardiac arrest was said to be the immediate cause of his death, and drugs had no role in it.
However, facts state he had an enlarged heart and drug addiction. Thus, these two factors, together, contributed to his death. Elvis’ autopsy reports were reopened in 1994, but his cause of death always remained a topic of debate.
