Thousands flocked to Graceland on Sunday to honor what would have been The King's 77th birthday. It also marked the beginning of a yearlong celebration of his life.
2012 is also the 35th anniversary of his death and the 30th anniversary of Graceland.
On average, about 600,000 fans from around the globe make the pilgrimage to the museum every year, bringing about $150 million to the city of Memphis.
Forbes Magazine said last year Presley earned $55 million.
ABC News contributed to this story.