The only way Elvis Presley could keep up with his impulsive purchases was to make even more money. According to the Los Angeles Times, in the mid-1970s, Presley made roughly $130,000 a night while on tour, each new album would receive at least $250,000 in royalties, and film appearances would see $1 million per picture. The Times exposé, published in 1986, said that, while Priscilla Presley never got involved in budgets during her short marriage to Elvis, “she knew that the only thing Elvis ever did with money was spend it.”
Elvis was a giver, but erred on the side of frivolity, apparently gifting friends (and even strangers) Cadillacs “and other things he knew they couldn’t afford.” Unsurprisingly, he also spoiled his daughter Lisa Marie Presley with mink coats when she was only 5 years old — and even purchased a private jet in her honor, per CheatSheet. Lisa Marie also said Elvis “was not strict at all” post-divorce. “There was no schedule; there was no time at Graceland, no rules. It was almost like this funhouse, no matter what you did, no matter what you destroyed, no matter what you threw, what broke it would somehow miraculously get replaced within 24 hours,” Lisa Marie said (via Express).
Such a nonchalant and blasé attitude did get Elvis in a bit of trouble, however, as the “Jailhouse Rock” performer signed away his royalties during a terrible business deal.