November 25th in Elvis History

It's November twenty-fifth, and on this day in 1975… Elvis Presley took out a loan for \$350,000 from the National Bank of Commerce in Memphis, using Graceland itself as collateral. The loan was necessary to cover the costs of his extravagant lifestyle, including recent purchases of airplanes, luxury cars, jewelry, and a racquetball court—along with the substantial payroll required to support his inner circle of friends and family. Even the King of Rock and Roll sometimes had to mortgage the castle to keep the empire running.