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Except that he hasn't sold anywhere near as many albums or singles as Elvis. Which means he isn't bigger. Hitting number 1 is a great milestone but it doesn't mean his music will have the legs the Kings music has.

For example look at AC/DC's Back in Black Album. It never hit number 1 in America and yet its shipped over 22 million copies (which incedientally isn't that much less then Jay Z's entire career in American in terms of sales) there.

Again hitting number 1 is great, but it really doesn't mean the album will go on to sell anything remarkable in the long term.