When Elvis passed away in 1977, his net worth was $20 million (actually, it was $5 million because inflation had not yet been factored in). Elvis was an American singer, musician, and actor. The most successful solo artist in history is him.
This musical pioneer, who is credited with popularising Rock ‘n Roll, transcended genre barriers to become a cultural icon and usher in a new era. Because of his renown, people frequently refer to him as “Elvis” or “The King” instead of his last name.
Elvis had a successful musical career in addition to appearing in many films and TV series. Because of its sexual overtones, his daring appearance and fashion were very divisive at the time. Although the “King of Rock ‘n Roll” may appear mild-mannered by today’s standards, he contributed to the early labelling of rock as “Devil’s Music.”
Early Life of Elvis
Elvis was born in Mississippi in 1935 to a very close-knit family. His initial residence was a two-room house that his father had constructed because his parents were not well off. He had a close relationship with both of his parents, who did their utmost to give their kid a happy life. While his father, Vernon, worked odd jobs to make ends meet, Gladys, his mother, kept the family together. When Elvis was three years old, his father was sentenced to prison for forging a check from his employer.
The first places that a young Elvis heard music were churches and public places where jazz music was played. Elvis was merely an average student, but his musical talent caught the notice of his teachers. However, even after obtaining a guitar for his birthday and practising with it, young Elvis still felt uncomfortable performing in front of an audience.
The 13-year-old Presley continued his musical training after relocating to Tennessee in 1948, despite failing music class at school. Elvis could not read music and played solely by ear, despite training with many talented guitarists, many of whom would later become pioneers of the Rockabilly subgenre.
Elvis Presley Net Worth at his Death
Elvis had a $5 million net worth at the time of his death, claims Celebrity Net Worth. That would be roughly $21 million now (21,484,158.42 to be exact), adjusted for inflation. Although $5 million and $21 million are not modest sums of money, considering that Elvis earned $1 million for each performance, his value should have been much higher by the time of his passing.
Due to all of his spending, Elvis’ net worth in 1977 was only $5 million. As is customary for the most popular musicians, he had a luxury lifestyle that cost a lot of money. The celebrity paid for all of the expenses associated with parties he and his close group of friends (known as the “Memphis Mafia”) attended, had hotel rooms decorated to look like Graceland while he was on tour, spent thousands updating his family’s home on the grounds of Graceland, and had a collection of pricey Cadillac cars (which he eventually started selling near the end of his life).
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His divorce from Priscilla Presley was also highly expensive, costing $725,000 outright on top of child support, 5 percent of the earnings from his publishing, and half of the money made from the sale of their Beverly Hills house. Elvis also struggled with drug addiction, which significantly increased his spending and ultimately contributed to his early passing.
Elvis Net Worth As of Now
Despite being unable to perform or produce new singles, the King would actually be worth much more money today than he did while he was alive.
Elvis’ current net worth is $23 million (£16.2 million), according to Forbes, and he continues to earn money each year.
Elvis made $39 million (£30.5 million) in revenue in 2019 and was one of the highest-earning celebrities of the year in 2020 with earnings of about $10 million (£7 million).
Lisa Marie, the daughter of Elvis who inherited his estate, turned Graceland into a tourist destination.