But in 1973, the Colonel committed the ultimate betrayal, selling Presley's entire back catalog to RCA for $5.4 million, a gross undervaluation for one of the most substantial catalogs in music history.
It has been widely reported that the colonel took more than half of Presley's income in return for negotiating merchandising deals, TV appearances and acting roles. He also became an adviser to the star, helping Presley make the decision to accept military service in 1958 and marry Priscilla Beaulieu in 1967.
In making him such an antagonist, they have robbed him of his many accomplishments with his client. Is it true, as portrayed, that Parker was consistently trying to pressure Elvis to tone down his sex appeal? No, no, not at all. Elvis took care of what Elvis did and Colonel took care of what Colonel did.
One of the findings of the case was that the Colonel was initially taking a 25% commission for any work generated, at the beginning of Elvis' career (which was considered exorbitant). Towards the end of his career, the Colonel was taking a 50% commission, which was considered completely exploitative.
Colonel Tom was living illegally in the US from the 1920s until his death in 1997. And control freak that he was, he knew that if he ever accompanied Elvis abroad, there was no way for him to reenter the US.
Presley's fame came at a price, though, with Parker taking up to 50% of the singer's earnings, whereas most managers took 10 to 15%. Parker argued that Presley was his sole client and thus the commission was well-earned.
Colonel Tom Parker Didn't Try to Alter Elvis' Image
like the bally girls on the carnivals. That sold tickets!" Nash explained. The biographer added that Parker didn't tell Elvis not to move his hips at a concert, a rule the singer disobeys in the film and leads to a riot at the '50s concert.
While Presley's star rose, his band remained on a fixed salary, causing increasing dissension. In a joint interview with The Memphis Press-Scimitar in late 1956, his three sidemen said they were being paid $200 a week when on tour (the article called that “good money for sidemen”) and $100 a week the rest of the time.
Why did Elvis not fire him? Firstly, the Colonel was responsible for much of his success, and they both knew it. And the Colonel knew more about Elvis than Elvis himself did, so Elvis understood that there would be a lot of trouble for him if he let the Colonel go.
The sum varies from $2 million to $10 million, she says, and as the movie shows, Elvis ultimately decided he couldn't afford to pay and went back to work for the colonel.
As Grunge points out, it's been alleged that Elvis's manager, Colonel Tom Parker, talked him out of touring abroad because Parker himself was an illegal alien. He had no passport documentation, and he feared that if he left American soil, he wouldn't be able to get back in.
One reason why the Colonel didn't do so is theorised by his biographer, Alanna Nash. She suggests the possibility that the Colonel's evasions were due to a murder he committed in the Netherlands, which prompted his hasty departure across the Atlantic.
Lisa Marie became the the sole owner of the mansion when the trust holding her inheritance dissolved on her 25th birthday in 1993. Graceland has become a popular tourist attraction over the years, with public tours on offer as well as sprawling museum exhibits.
BB King was one of the many people who mourned Elvis' death, and he paid tribute to his friend by performing at his funeral. He later said that Elvis was “the greatest entertainer that ever lived,” and that he was proud to have been his friend.
As one of Elvis' beneficiaries in his will, Lisa Marie Presley inherited his whole estate after the death of her father.
Who attended Elvis Presley's funeral? An estimated 200 people attended Elvis' funeral, including his close friends and family. Many stars were at the funeral, including: John Wayne, Burt Reynolds, George Hamilton, Ann-Margret and Caroline Kennedy. Colonel Tom Parker, Elvis' long time manager was also there.
When he died at the age of 42, he had about $5 million in the bank (about $20.5 million today), according to Forbes.
Over the years, the trustees decided to open Graceland up to the public via a variety of tours and overnight stays. Elvis purchased the home in 1957 for $US100,000 ($A143,500). In 2020, Rolling Stone reported its estimated worth to be as much as $US500 million ($A718 million).
Despite the fact that Sony BMG owns the rights to Elvis' recordings, they continue to release them under the RCA Records label. The songs are owned by the composers and publishers. The Sun and RCA recordings were never his.
Luhrmann admitted there was “pushback” on using the footage. “He's clearly suffering with drugs, yes, but he sings the best he ever sings and it's the last time he sings.” It was the hard cut from Butler's performance to the real Elvis that convinced Luhrmann this was the only way to end the film.
Tom Parker, 87, a onetime carnival pitchman who shrewdly guided singer-actor Elvis Presley's career for 22 years, died here Jan. 21 after a stroke.
Today, the Presley estate is estimated to be worth between $400 million and $500 million, according to one Presley exec. That's less than the Beatles (whose song catalog is said to be worth more than $1 billion) and Queen (thanks to Bohemian Rhapsody, the surviving members top Presley at $575 million).
After Elvis's death in 1977, his father Vernon was one of the executors of his estate, which was held in trust for his daughter Lisa Marie. Vernon named Priscilla to be his successor upon his death. She assumed the role following Vernon's 1979 death.