Volume 53 - No. 13
by lyle e davis A major tourist attraction is coming to Escondido. A group of investors has come together to provide the massive funding needed to pull the deal together. Investors include Warren Buffet, Bill Gates, and actors, Tom Cruise, Ben Affleck, Matt Damon, Leonard DiCaprio, Tom Hanks, Samuel L. Jackson, Denzel Washington, Mark Cuban, George Soros, Doug Leverenz,
March 30, 2023
Paul McCartney and Ringo Star. Local investors include, Arie De Jong, Paul and Nome Van Middlesworth, owners of The Computer Factory, San Marcos, Charlie Mitich, owner of Charlies Restaurant, Escondido, Bill and Suzie Meleka, the management team at Charlie’s, and lyle e davis, editor/publisher of The Paper. The projects? 1. Moving Graceland to Escondido.
The Paper • 760.747.7119 www.TheCommunityPaper.com
email: thepaper@cox.net
2. Establish a 285 acre Spaghetti Tree Orchard.
The original cost to Elvis Presley was only $102,500
The price tag was high. $700 million for Graceland. Appraised value was between $400 and $600 million but your investors wanted the Graceland property here in Escondido so they offered a premium price to move Graceland from Memphis to Escondido.
Jack Soden acquired Graceland from Lisa Presley who received $53 million in cash; $25 million in debt assumption; and $22 million in preferred stock of his new company, Sillerman’s, as well as 500,000 shares in common stock of Sillerman’s new company. She will still own 15% of Elvis Presley Enterprises, which Sillerman is buying. EPE (Elvis Presley Enterprises)
The offer was accepted and the move is expected to be completed by April 1st, 2024.
Graceland See Page 2