As film revives Elvis’ legacy, Presleys fight over his estate

When the camera panned to Priscilla Presley and her daughter, Lisa Marie, they appeared enraptured.

Austin Butler had rekindled the good memories of Elvis with his portrayal in a lauded biopic. And for a few magical minutes on that January evening, Butler was there, on the stage at the Golden Globes, conjuring the voice and radiating the charm of the King of Rock ’n’ Roll as he accepted a best actor award.

Lisa Marie clasped her hands around her mouth. Priscilla placed her hand on her heart. Mother and daughter had had their run-ins over the years, but they were together again — nestled at a table, like family.

“One of the greatest nights of my career,” said Jerry Schilling, a Presley family friend and business associate who escorted Lisa Marie that evening.

But just days later, the sadness that has long trailed the family had again taken hold. Lisa Marie Presley, only 54, died suddenly. Within weeks, Priscilla Presley, who had long helped administer Elvis’ estate, went to court to challenge the validity of documents that say her granddaughter, actress Riley Keough, is now the sole trustee.

The dispute got underway just as Keough was preparing for the release of the Amazon Prime Video series Daisy Jones & the Six, in which she stars. It is unclear what acrimony may arise as the litigation unfolds, but Keough stayed conspicuously quiet when her grandmother urged the public not to view it as a family fight. Keough’s lawyers have yet to file court papers in response.

Reaction has been swift, though, at Graceland, Elvis’ former home in Memphis, Tenn., where emotions over the Presley family run high. Lisa Marie Bailey, a visitor named after Elvis’ only child, said recently that she supported Keough.

If the King knew what was happening, she said, standing near where Elvis is buried, “he would be turning over in his grave.”

The latest Presley family dust-up echoes the messiness that marked Elvis’ life, which, beyond the hit records and Hollywood films, was filled with public dramas, including divorce, profligate spending and, late in life, a struggle with drug addiction.

Despite those troubles, the Elvis brand continues to take in more than $100 million a year as the licensing juggernaut behind apparel, pink Cadillac plush toys and tickets to tour Graceland. But the family trust receives only a fraction of the proceeds, according to court filings that detail its earnings.

In 2005, Lisa Marie Presley and her business manager sold off 85% of Elvis Presley Enterprises for roughly $97 million in cash, stock and debt relief, according to court documents — funds that have since been nearly depleted. Still, last year, before her death, Elvis’ daughter drew an income of $1.25 million from the trust, which continues to be worth tens of millions of dollars, according to financial filings. The beneficiaries are now Keough and her two younger half sisters.