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After Elvis Presley's death in 1977, Priscilla Presley served as executor of his estate. Graceland itself cost $500,000 a year in upkeep, and expenses had dwindled Elvis's and Priscilla's daughter Lisa Marie's inheritance to $5 million. Priscilla examined other famous house/museums, and hired a CEO to turn Graceland into a moneymaker. She became the chairwoman and president of Elvis Presley Enterprises. After Graceland opened to the public in 1982, the enterprise's fortunes soared and eventually the trust grew to be worth over $100 million. Graceland is now statistically the second most visited private residence in the United States, behind the White House.
An annual procession through the estate and past Elvis's grave is held on the anniversary of his death. The largest gathering assembled on the twenty-fifth anniversary in 2002. One estimate was of 40,000 people in attendance, despite the heavy rain.
The biggest crowd in Memphis for an Elvis Week is generally regarded as the 20th Anniversary in 1997. At this time several hundred media groups from around the world were present and the event gained its greatest media publicity as an estimated 50,000 fans visited the city.
The Graceland grounds include a museum containing many Elvis artifacts, like some of his famous Vegas jumpsuits, awards, gold records, the Lisa Marie jetliner, and Elvis's extensive auto collection. Recently Sirius Satellite Radio installed an all-Elvis Presley channel on the grounds. The service's subscribers all over North America can hear Presley's music from Graceland around the clock. Two new attractions have been added, Elvis Presley After Dark and Elvis 56; these can be found on the plaza.
Tours of the museums at Graceland are available, though no flash photography or video cameras are allowed inside. The tour of the Graceland mansion is an audio tour, and the upper floor is not open to visitors, partially to avoid any improper focus on the bathroom which was the site of his death. The upper floor, which also contains Elvis's bedroom, has been untouched since the day Elvis died. The tour enters through the front door, the living room with adjoining music room are first to be presented. These rooms are then followed with a walk past the grand stair case to Elvis' parents room. Next the tour takes you into the dining room and the kitchen. The tour continues through the basement, where Elvis's media room with its three televisions can be viewed. A bar and billiards room can also be found. The tour continues back upstairs, through the famous Jungle Room. After the Jungle room, you are taken to a small room that has displays of some of Elvis' personal belongings. These items are all carefully selected from Elvis' private sanctuary upstairs, which again is not part of the tour. Items include jewelry to Elvis' personal desk, some random items of clothing and a scale model of the home he grew up in in Mississippi. Then outside you are rounded through Elvis' shooting range. Then into his "Trophy Room". Originally this space was just a sidewalk behind the house that Elvis had enclosed to store his many items of appreciation. At the doorway is Elvis' famous gold lame suit from his early years.
You then proceed down a hallway lined with gold records. The tour then winds you through a display of his 68 Comeback, featuring his leather suit and some gowns worn by Priscilla. You are then taken back outside to view his still fully functioning stable of horses. Then into Elvis' racketball court. The court now houses a display of Elvis' trademark sequined "jumpsuits". All are presented facing forward except for the last suit in the room.
The last jumpsuit worn by Elvis is turned backwards as if walking away from you. Also in this room are all the awards and distinctions posthumously presented to Elvis. Then you are taken into the Meditation Garden. Buried here are Elvis, mother Gladys, father Vernon and grandmother. A separate building houses a car collection and not far away his two planes Lisa Marie (a Convair 880) and Hound Dog II (a Lockheed JetStar) are on display.
One of the most impressive displays is the trophy room off the main house, displaying Elvis's huge collection of gold and platinum records and other awards, stage costumes, photographs and more.
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