Elvis Presley's will - earnings, tax debt, sole heir to fortune and royalties revelation

dailystar.co.uk:

Elvis biopic is retelling the story of the King of Rock 'n' Roll, whose tragic death in 1977 shocked the world.Starring Austin Butler as the singer, and Tom Hanks as his manager Colonel Parker, the highly anticipated film launches in cinemas today (June 24, 2022).Over 45 years since Elvis' death, his music and legacy continues to be loved by fans across the world, with his records relived in the new biopic.READ NEXT: Where are the 80s action heroes now – antisemitism row, affair and hunting backlashHowever despite his huge fame, it is reported that Elvis only left a small fortune in his will following his death - with revelations about his royalties soon coming to light.Elvis Presley was the undisputed king of rock 'n' roll, and as such, he amassed huge earnings from his hit singles, concerts - including his famous Las Vegas residency - and films.It is no surprise then that the king is thought to have earned over £762million throughout his career.However, Elvis was known to be a very generous man and would regularly spend his money on family and friends.It is reported that if he was running low on money, he would book another tour or schedule a recording session - with the singer earning around £250,000 from a new album - along with concerts grossing on average £130,000 a night according to the LA Times.Despite his staggering earnings throughout his lifetime however, it is reported that the star only had £3.8m in his bank account at the time of his death.Additionally, the family also had to pay an IRS estate tax of £7.6m in 1981, after the IRS reportedly misvalued Elvis' estate - which was reported to be worth £22.5m instead of the first estimate of £4.9m.Following Elvis' tragic death on August 16, 1977, the singer's.