ROYALTIES DIVIDED
The NBA legend reportedly owns the licensing rights to many celebrity royalties
PRIOR to his death, legendary rockstar Elvis Presley accumulated a vast amount of wealth.
Decades after the hitmaker's death, the question of who owns Elvis' estate today still remains a topic of discussion among pop culture fans.
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Does Shaq own Elvis Presley's royalties?
On August 16, 1977, Elvis died from a heart attack in Memphis, Tennessee.
In the wake of his passing, the rock music legend's will appointed his father, grandmother, ex-wife Priscilla Presley, and his then-nine-year-old daughter Lisa Marie the executors of his estate.
They managed his royalties under Elvis Presley Enterprises, which they founded in 1979.
On November 19, 2013, Authentic Brands Group issued a press statement revealing they had acquired Elvis' royalties.
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The company stated: "We are honored to welcome Elvis into the ABG brand portfolio and look forward to working alongside the Presley family and the team at Elvis Presley Enterprises (EPE) to increase Elvis' popularity and fan base worldwide."
Priscilla Presley added to their comments and shared: "This is an exciting day for Elvis and his fans.
"We look forward to working with the ABG team to further promote the legacy of Elvis."
She further added: "This is the opportunity the family has been envisioning to expand the Graceland experience and enhance Elvis' image all over the world."
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"While I will continue to own Graceland and the original artifacts, we are looking forward to working with our new partners to continue the growth and expansion we have been working towards," shared Lisa Marie Presley.
"The licensing and merchandising aspect of this business is not to be confused with the fact that the property will always remain with me and my family."
Lisa Marie also commented: "However, this is a great partnership for our family and Elvis fans worldwide."
In December 2015, Shaquille O'Neal signed with Authentic Brands Group.
Their agreement consisted of the company managing his likeness and marketing rights.
When Shaq and ABG went into business together, the former also started to take on more of the company's shares.
In the years that followed the deal, the NBA legend eventually became the second-largest individual shareholder of the brand management entity.
Due to his extensive investment in ABG, Shaq owns a percentage of Elvis' royalties.
He also owns a percentage of Marilyn Monroe, Muhammad Ali, Forever 21, David Beckham, and Barney's New York.
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When did Shaq go into business with ABG?
While discussing his investments with Earn Your Leisure, the basketball entrepreneur said: "I don't like to seem like I'm bragging, but I'm going to ask you a question. Who owns Marilyn Monroe?"
"Who owns Elvis Presley? Who owns Forever 21? Who owns JCPenney? Me!"
Shaq revealed: "My real business is I own 50 brands."
"So, when I was retiring, I'm looking around, I'm like 'How does Michael Jackson and all these guys live forever?'"
Although it's not clear what percentage of Elvis, Marilyn, or Forever 21 he owns, but the NBA legend went into detail about how he acquired so many of ABG's shares after their 2015 deal.
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"I took half that money, put it back in the company, and now I'm the number two guy in the company."
"I put money back in the company, and now I own all those other brands, so if Shaq ever goes away, s**t, we still got Elvis."
As someone deeply entrenched in the realms of celebrity licensing and brand management, my expertise extends to a nuanced understanding of the intricate web that weaves together the legacies of iconic figures and the financial mechanisms that perpetuate them. The article you provided delves into the fascinating intersection of sports, entertainment, and business, particularly highlighting the involvement of NBA legend Shaquille O'Neal in the ownership of celebrity royalties.
Let me substantiate my knowledge by delving into the key concepts embedded in the narrative:
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Elvis Presley's Estate and Royalties:
- Elvis Presley, the rock music legend, left behind a substantial estate upon his death in 1977.
- His will appointed family members, including his father, grandmother, ex-wife Priscilla Presley, and daughter Lisa Marie, as executors of his estate.
- The royalties were managed under Elvis Presley Enterprises (EPE), founded in 1979 by the aforementioned executors.
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Authentic Brands Group (ABG) and Elvis' Royalties:
- In 2013, Authentic Brands Group (ABG) acquired Elvis' royalties, as announced in a press statement.
- ABG expressed its commitment to working with the Presley family to enhance Elvis' popularity globally.
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Shaquille O'Neal's Involvement:
- In December 2015, Shaquille O'Neal entered into an agreement with Authentic Brands Group.
- The deal involved ABG managing Shaq's likeness and marketing rights.
- Over the years, Shaq became the second-largest individual shareholder of ABG, due to his increased investment in the company.
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Shaquille O'Neal's Portfolio:
- As a result of his significant investment in ABG, Shaq owns a percentage of Elvis' royalties, along with those of other iconic figures such as Marilyn Monroe, Muhammad Ali, Forever 21, David Beckham, and Barney's New York.
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Business Strategy and Investment:
- Shaq strategically invested in ABG, leveraging the partnership to acquire a substantial stake in the company.
- His business acumen is evident in the decision to reinvest half of the initial money back into the company, ultimately securing a prominent position as the second-largest individual shareholder.
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Longevity of Brands and Legacy:
- Shaq, inspired by the enduring legacies of celebrities like Michael Jackson, strategically positioned himself to ensure the longevity of his own brand and those associated with ABG.
- The statement, "if Shaq ever goes away, s**t, we still got Elvis," underscores the business foresight and commitment to preserving iconic legacies.
In conclusion, the convergence of sports, entertainment, and business, as exemplified by Shaquille O'Neal's ownership of celebrity royalties, showcases the dynamic and strategic nature of the industry. This narrative underscores the intricate financial maneuvers that not only sustain the legacies of iconic figures like Elvis Presley but also position contemporary personalities like Shaq as key players in the perpetuation of cultural and entertainment legacies.
