Lisa Marie Presley dead: How Elvis’s only child went from $100m inheritance to being $16m debt

Lisa Marie’s millions: She was custodian of the $100million Elvis estate, sued ex business manager for mismanagement – and faced losing half of it in vicious divorce from fourth husband Michael Lockwood

  • Lisa Marie was only nine when her father Elvis died in 1977, but she inherited his estate when she turned 25, including Graceland
  • The King was reportedly only worth $5 million at the time of death, but largely thanks to Priscilla turning Graceland into a tourist attraction, the value bloomed
  • By 1993, when the trust was given to Lisa Marie, it was worth over $100 million, but her decision to hire Barry Siegel as business manager was disastrous
  • Two years into his tenure, Siegel sold 85 per cent of the trust’s interests in Elvis Presley Enterprises – including Lisa Marie’s rights to her father’s name and image
  • Lisa Marie was left with $40 million, but between 2005-2015, nearly all the money was spent, with only $14,000 when she dismissed Siegel in 2015
  • In 2018, $16 million in debt, she sued Siegel: she also faced demands from ex-husband Michael Lockwood for $40,000 a month child support
  • Lockwood and Presley were still battling in court over her finances at the time of her death, with Lockwood seeking cash from her share of the Elvis biopic 
  • READ MORE: Elvis’s death, her son’s suicide, four failed marriages – including to Michael Jackson and Nicolas Cage – and a crippling cocaine addiction… Lisa Marie Presley’s life was beset with tragedy 

Lisa Marie Presley‘s death at the age of 54 has left unresolved legal battles over her finances, and questions as to how she managed to lose the $100 million fortune left to her by her father.

Presley, whose death on Thursday was confirmed by her mother Priscilla, was still battling her fourth and final husband Michael Lockwood when she died.

Lockwood, father of her twin daughter Vivien and Finley, was seeking $40,000 a month in child support and insisted she had more money than she claimed in court documents.

Presley, in turn, said she was at one point $16 million in debt, following disastrous business deals made by her business manager Barry Siegel.

She sued him in 2018, accusing him of mismanaging her inheritance.

As the only daughter of Elvis and Priscilla Presley, she was quickly thrust into the limelight as a child and had more than her fair share of tragedy

Lisa Marie Presley was Elvis’s only child, and was nine when he died in 1977. He left his entire estate to her, on her 25th birthday

Lisa Marie Presley is seen on Monday night at the Golden Globes

Lisa Marie Presley is seen on Monday night at the Golden Globes

Presley was married to actor Danny Keough, Michael Jackson, and Nicholas Cage before Lockwood, but is not believed to have gained financially from her marriages to the King of Pop and Oscar-winning actor.

The only child of Elvis, she was left his entire estate in his will when he died in 1977, aged 42.

She took control of the trust in 1993, aged 25.

At the time of his death Elvis was worth only $5 million, but Priscilla cannily turned Graceland into a tourist attraction and set up Elvis Presley Enterprises, capitalizing on his image and massive fandom.

By the time Lisa Marie took the reins, the fund was worth a healthy $100 million.

She appointed Barry Siegel in 1995 to manage the money.


Related posts