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Lisa Marie Presley has grown up in the shadow of her incredibly famous father: Elvis Presley. Like her dad, Lisa Marie has made some music in her career, but is best known for being the daughter of The King. Priscilla knew Elvis far better given they were married for years before his death – but how old was Lisa Marie when he died?
Lisa Marie was incredibly young when her father died, showing how traumatic and difficult a moment it must have been.
She was Elvis and Priscilla’s only daughter who was born exactly nine months after their Las Vegas wedding.
She was born in Tennessee, where her father is from, on February 1, 1968, but she soon lived with her mother after her parents divorced in October 1973.
She still spent time in Graceland, however, but her time with her father was cut short when he died in August 1977.
At this point, Lisa Marie became the joint-heir to his estate along with Elvis’ father Vernon and his grandmother Minnie Mae, though she was only nine years old.
Sadly for Lisa Marie, her inheritance never included the royalties to the many songs of Elvis’s songs due to a poor deal negotiated by Elvis’ manager, Colonel Tom Parker, which meant all future royalties were signed away.
When Elvis started his career in 1954, he recorded at Sun Records in Memphis.
He signed a contract which meant Sam Phillips, the owner and producer at Sun Records, owned all of his recordings made there.
However, Sam sold this contract and the catalogue of songs made at Sun Records to RCA, a record company, in late 1955, after which Elvis remained under contract to RCA.
He received an artist’s royalties on record sales, which were part of the contract he had negotiated.
However, in March 1973, Colonel Tom and Elvis went to RCA, suggesting Elvis be given a lump sum in lieu of all future artist’s royalties for anything recorded up to that time.
Of course, by 1973, Elvis had quite the back catalogue to work with, meaning this would have earned RCA a huge amount of money.
As a result, Lisa Marie does not own the artist’s royalties on sales of recordings made before March 1973, however the Elvis Presley Enterprises (EPE) does own his artist’s royalties on sales of recordings made after that date, which still earns them a hefty sum.
EPE also still holds the publishing rights to all of the songs recorded by Elvis, which equals around 700, as they were part-owned by Elvis through his various publishing companies.
The publisher’s royalties to his songs, therefore, are still earned by the EPE, as these were not sold to RCA.
His publishing contracts are liable to expire, after which those songs can no longer earn publishing royalties by the EPE, but can earn artist’s royalties for RCA.
Despite all this, through The Elvis Presley Trust, Lisa Marie wholly-owned EPE, which managed her father’s estate.
She inherited the money from her grandfather Vernon and great-grandmother Minnie-Mae after their deaths, meaning she did own the entirety of Elvis’ estate.
In 2005, Lisa Marie sold 85 per cent of her share of EPE to entertainment company CKX.
This included its physical and intellectual properties, however, Lisa Marie retained sole ownership of Graceland and her father’s personal items, many of which remain in the house.
Lisa Marie still has a 15 per cent share in the company of EPE, despite, in 2013 the 85 per cent share being sold to the Authentic Brands Group.
Graceland has now been opened as a tourist attraction, and is the most visited private residence in the USA.
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