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Introduction
In her new memoir Softly, as I Leave You: Life After Elvis, Priscilla Presley shares the story of one of the most difficult moments in her family’s history: the sale of 85% of Elvis Presley’s legacy, including Graceland, by her daughter Lisa Marie Presley in 2005.
A Crisis That Changed Everything
The sale took place during what Priscilla describes as a “personal and financial crisis” for the Presley family. Lisa Marie, who had inherited her father’s estate in 1993, was reportedly “broke” by 2005. According to Priscilla, her daughter had not been receiving the best financial advice, and the issue was so delicate that discussing it became nearly impossible. “It was very, very delicate,” Priscilla writes, expressing her deep concern about Lisa Marie’s financial state and the fate of the Presley legacy.
When Lisa Marie made the decision to sell 85% of her inheritance — which included the world-famous Graceland estate — Priscilla was caught off guard. Lisa Marie retained the physical property and Elvis’s personal effects but relinquished the majority of control over Elvis Presley Enterprises, the organization responsible for preserving and promoting the King’s enduring cultural impact.
Heartbreak and the Loss of an Emotional Home
For Priscilla, the loss was more than financial. “I was devastated,” she confesses. “I was heartbroken. Graceland was my emotional home, not to mention losing control of Elvis’s legacy.” She described the decision as a “bad financial decision,” one that could have continued to provide the family with a steady stream of income.
Priscilla’s personal connection to Graceland runs deep. After Elvis’s death in 1977, she worked tirelessly to transform the estate into a place that honored his memory and welcomed fans from around the world. She curated exhibits, opened an annex, and showcased Elvis’s gold records — each a symbol of his incredible career.
Graceland: From Private Home to Global Landmark
When Priscilla opened Graceland to the public in 1982, she was responding to the estate’s financial struggles. What started as a necessity quickly became a global phenomenon, with over 600,000 visitors each year making the pilgrimage to Elvis’s Memphis home. Priscilla’s efforts helped ensure that Graceland would stand as a monument to Elvis’s talent and legacy.
Even after the 2005 sale, Priscilla continued to nurture Graceland’s status as a musical and cultural landmark. Her heartbreak, she writes, was not just about money but about losing a piece of her own history — and the ability to guide Elvis’s legacy for future generations.
The Legacy Continues
Lisa Marie Presley’s ownership of Graceland was ultimately passed down to her daughters, Riley Keough and twins Harper and Finley Lockwood, after her passing in January 2023. For Priscilla, the story of Graceland is a reminder that Elvis’s impact is not just a matter of family inheritance or business, but of love, memory, and a shared sense of home.
Through her words, Priscilla Presley reveals the deeply personal cost of preserving a legend — and the enduring bond between the Presley family and the place Elvis called home.