Graceland, now owned by Riley Keough, was once worth $5 million, but it's much more now details
Now that Riley Keough's months-long legal battle over her late mom Lisa Marie Presley's estate with grandmother Priscilla Presley is settled, she is now the sole owner of Graceland.
The Daisy Jones and the Six actress' grandfather Elvis Presley purchased the iconic home in 1957 for $100,000 at age 22, and her grandmother Priscilla moved into the iconic property in 1963 at age 18. She married Elvis four years later, after meeting when she was 14 and he was 24.
Up until Lisa Marie's untimely death, she was the owner of her father's legendary residence, though after a Los Angeles judge approved her mom and daughter's settlement agreement over her trust earlier this week, the role went to Riley.
How much is Graceland worth today?
Elvis bought Graceland for $100,000 in 1957, and at the time of his death 20 years later, it was reportedly worth $5 million.
The homes' worth has since skyrocketed – in large part thanks to Priscilla's decision to open it to the public – and today it reportedly generates over $10 million annually, plus a Presley executive told Rolling Stone in 2020 that the estate is worth upwards of $500 million.
When did Graceland open to the public?
Elvis passed away aged 42 on August 16, 1977, and five years later, his ex-wife Priscilla led the decision to open Graceland to the public, making it one of the U.S.' most popular tourist destinations, and largely saving the Presley family from financial peril; the $500,000 annual upkeep of the home while it remained a private residence had significantly dwindled Priscilla and Lisa Marie's fortune.
MORE: Riley Keough remembers late mom Lisa Marie Presley and brother Benjamin on bittersweet day
"Sharing Graceland with the world was her idea from the start," Riley said of her grandmother in a recent Vanity Fair interview, adding: "She's a beautiful woman, and she was a huge part of creating my grandfather's legacy and Graceland. It's very important to her."
She added: "All she wants is to love and protect Graceland and the Presley family and the legacy. That's her whole life."
Does anyone live in Graceland?
Though Graceland opened to the public in 1982, since then the second floor has always been closed to the public; it's where Elvis had his fatal heart attack.
Though no members of the Presley family actively live in Graceland, Riley does have vivid memories of her past stays in her family's home, and told VF: "There were a few times that we slept there," recalling: "The tours would start in the morning, and we would hide upstairs until they were over.
"The security would bring us breakfast. It's actually such a great memory. We would order sausage and biscuits, and hide until the tourists finished."
Will Priscilla Presley be buried in Graceland?
In the midst of Riley and Priscilla's battle over Lisa Marie's estate, The Promenade Trust, rumors swirled over whether Priscilla was banned from Graceland and whether she would be allowed to be buried there, where Elvis is laid to rest.
However, Riley firmly stated to VF: "I don't know why she wouldn't be buried at Graceland," adding: "I don't understand what the drama in the news was about. Yeah. If she wants to be, of course."
She added: "I always had positive and beautiful memories and association with Graceland," though noted: "Now, a lot of my family's buried there, so it's a place of great sadness at this point in my life." Riley's grandfather Elvis, her mom Lisa Marie, and her late brother Benjamin are all buried at Graceland.
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