Elvis, “The King” Presley remains one of the biggest musical icons of American culture even more than 30 years after his death. Matching his legendary status is the lucrative Elvis brand which earns around US$42 million a year, trailing only slightly behind Kurt Cobain whose music records and memorabilia stood at US$50 million in 2006.

Elvis Presley gave the world many unforgettable hits some of which are ‘Jailhouse Rock’, ‘Love Me Tender’, ‘Heartbreak Hotel’ and ‘Hound Dog’. He also acted in several movies but suffered from careless finances which were compounded by his uber lavish lifestyle, extravagance to friends as well as poor financial advice. At the time of his death, his estate in Memphis called Graceland, stood at US$4.9 million.

After Presley died, his widow Priscilla showed greater business acumen by throwing Graceland open to tourists and setting up the Elvis Presley Enterprises. Today the entire portfolio of businesses centered on Presley is considered to be worth around US$600 million. This includes earnings from the estate as well as from the sale of his records and memorabilia. Priscilla continues to be the director of CKX, the company which holds 85% stake in Graceland, and remains actively involved in upgrading the attractions of the Elvis brand.

-Kalyani Mookherji