That is normal - the existing structure (I guess it's technically a corm?) rots away, and is replaced by a new one that grows on top of the old one. It's not unusual to find the mostly rotten remains of the old bulb/corm on the base of the newly developing one.

A newly planted bulb when the soil is cold and wet will rot easily, but a plant with roots established will not rot in the same condition. As mentioned above the original bulb will be gone but the plant will survive. I have some over ten years old, still doing well, although the foliage is frosted back yearly. We only get light frosts here. Al

Thanks for the encouragement. People in this area don't usually dig each year but I don't seem to be able to get the really big leaves so thought I would ask. I still want big leaves, so I'll keep trying.

Al and Dennis, those are great bits of info! I learned something new! Ladycraft, you may know this, but just in case you don't, elephant ears love lots of manure and lots of water. (High temps too, of course.) Here, that is the recipe for growing really big leaves.

I didn't know they liked lots of manure. Thanks for letting me know. I retired this month so will be sure to get them more TLC this next year.

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Dug up one bulb at end of first season in the ground. As you can see, from one bulb I now have several plants. Al

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At end of second season in ground. My daughter in law modeled for size comparison. Al