Living like a king: how did Elvis Presley spend his millions? From a private jet named after Lisa Marie and multiple Mercedes-Benzes and Cadillacs, to Rolex watches and a US$65,000 diamante cape

Oct 31 , 2022

With Elvis Presley’s fame came fortune – and he spent like there was no tomorrow. Photos: @ElvisPresley/Twitter; @elvis, @visitgraceland/Instagram

Presley was known for his out-of-control spending, once gifting 32 Cadillacs to others in a single day, but was also forced to pay out US$750,000 in his divorce from Priscilla

The Jailhouse Rock singer owned several properties, including Graceland and a Beverly Hills mansion where he once met The Beatles, and even bought former US President Franklin D. Roosevelt’s yacht

Elvis Presley was an icon of his generation and still considered one of the most influential singers of all time. It’s fair to expect he was also one of the music world’s richest, right?

Elvis Presley at the height of his fame in 1957. Photo: AP

Well actually no. Presley – the world’s most successful solo artist – had a “mere” net worth of around US$5 million (US$20 million in today’s money) at the time of his death, according to Celebrity Net Worth. It’s a far cry from some of today’s pop singers who have stacked up many more millions without being nearly as successful in terms of record sales.

Colonel Tom Parker and Elvis Presley’s relationship featured heavily in the recent Elvis biopic. Photo: @priscillapresleyelvisfan/Instagram

But why was that the case? As revealed in the Elvis (2022) biopic, much of the “Jailhouse Rock” singer’s hard-earned wealth was distributed and handled by his father, his financial adviser and his manager Colonel Tom Parker, who reportedly took a 50 per cent commission on every dollar made.

Elvis Presley is one of the most iconic musicians of all time, not least because he spent his money so extravagantly. Photo: @elvis_presley___fans/Instagram

Nevertheless, Presley still had a decent stack of cash to splash around during his lifetime and was even known for his extravagant spending habits. As he once famously said, “You can have cars, you can have money, you can have a fabulous home, you can have everything. If you’re not happy, what have you got?”

So, what exactly did The King spend his millions on?

Living like a king: how did Elvis Presley spend his millions? From a private jet named after Lisa Marie and multiple Mercedes-Benzes and Cadillacs, to Rolex watches and a US$65,000 diamante cape

Properties galore – including Graceland