Lisa Marie Presley Net Worth: an American Singer and Songwriter

On February 1st, 1968 in Memphis, Tennessee, Lisa Marie Presley made her debut into the world. Lisa moved in with her mother following the divorce of Priscilla Presley and Elvis Presley.

Career of Lisa Marie Presley in Music

In 2003, Lisa Marie Presley released her first studio album, which was titled “To Whom It May Concern.” In 2005, she released the follow-up single “Now What.” Her second album, in addition to her first, was successful commercially. Her third studio album, titled “Storm & Grace,” was released the same year in 2012.

In addition to her career as a solo artist, Presley has participated in musical projects with a number of well-known performers, including Kylie Minogue, Michael Buble, and Coldplay. In addition to this, she has been featured in music videos for songs performed by performers such as Michael Jackson and others.

Relationships of Lisa Marie Presley

Lisa Marie Presley tied the knot with Danny Keough in the year 1988. Before they divorced in 1994, they were parents to two children. Benjamin, their son, took his own life when he was 27 years old, in the year 2020. After her marriage to Keough ended in divorce, Presley hastily wed Michael Jackson. In spite of the fact that she assisted Jackson with the resolution of a lot of personal concerns, she filed for divorce in 1996.

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After that, Lisa entered into an engagement with a musician by the name of John Oszajca, but she ultimately broke off the engagement in order to marry Nicholas Cage. Cage and Presley got divorced later that same year, 2002, after getting married in 2002.

lisa marie presley net worth

She tied the knot with Michael Lockwood in the year 2006, and in 2008, she became a mother to twins. She claimed that she had found child pornography on Lockwood’s computer when she filed for divorce and sole custody of the children in 2016. She also stated in her filing that she had done so in 2016.

How Much Money Does Lisa Marie Presley Have in the Bank?

Lisa Marie Presley is a well-known American singer and actress who now has a net worth of minus sixteen million dollars. Lisa Marie Presley is an outstanding singer and composer in her own right. However, she is arguably best known for being the daughter and only child of Elvis Presley. Lisa Marie is the only child of Elvis Presley.

Since she inherited the Presley estate when she was 25 years old, she has been dealing with a variety of financial challenges that have contributed to her negative net worth. There will be further discussion of these economic concerns later on in this text.

In addition to this, she is famous for having been married to Michael Jackson in the past and for having formerly been a member of the Church of Scientology.

Inheritance of  Lisa Marie Presley

When Lisa’s father passed away, she was just 9 years old. Throughout his life, Elvis was notorious for his lavish spending habits and lack of regard for his own fiscal responsibilities. In spite of this, the King of Rock and Roll was essentially cheated out of half of his profits by his manager, Colonel Tom Parker, who was virtually taking a cut of everything Elvis earned. Elvis Presley left behind an estate that was valued at $5 million at the time of his passing, which is comparable to approximately $14 million in today’s money.

His wife Priscilla, who was also Lisa’s mother, served as the sole executor of his estate, and she planned for Lisa to inherit everything. On the other hand, Lisa Marie had only nine years under her belt at the time. After taking into consideration all of the costs and fees associated with the estate, Priscilla noticed that Lisa’s inheritance had been reduced to only one million dollars.

As a result, she began the process of reestablishing the estate and dealing with its precarious status. She took the unusual step of turning Graceland, Elvis Presley’s mansion, into a museum, and four days after its formation she had paid off all of her debtors and unpaid expenditures. Graceland is now open to the public.

When Lisa was 25 years old and inherited her father’s wealth, the value of the property had increased to $100 million (which is about equivalent to $295 million in today’s money).

lisa marie presley net worth

However, she decided to create a revocable living trust instead of inheriting the money directly, and she named Barry Seigel as the trustee of the trust to oversee the management of the funds. The decision to sell 85 percent of Elvis Presley Enterprises, the company that managed all of Elvis’ image rights and income, was made by Seigel in February of 2005.

Despite the fact that EPE was worth $100 million, Lisa Marie was only able to walk away from the sale with $40 million after paying taxes. On the other hand, the transaction included stock in the future holding company of American Idol worth $25 million, so it wasn’t all negative.

Unfortunately, there was not even a single dime left by the time 2015 rolled around. This was in part due to Lisa’s propensity for frivolous spending, but it was also possibly due to poor management on the part of Seigel and the other financial managers (who, by the way, were making salaries of $700,000 per year). After everything was said and done, Lisa Marie was only left with 14,000 dollars in the trust that she had created. Reportedly, she carried a credit card debt load of more than half a million dollars as well.

Lisa Marie Financial Problems

By the year 2015, Lisa Marie Presley had terminated her relationship with Barry Siegel. Two years later, she initiated legal action against her former business manager, alleging that he had squandered $100 million of her income and caused her to become bankrupt as a result. She contended that the EPE purchase was ill-advised and that he failed to educate her about the true situation of the Presley estate. She also claimed that he misrepresented the value of the Presley estate.

When Barry Siegel was defending himself, he made the argument that Lisa Marie’s exorbitant spending habits were the true cause of the significant losses that the estate incurred.

In addition to this, he asserted that he had regularly scheduled business meetings with her, during which he had provided her with updates on the situation and constantly prompted her to rein in her expenditures. In addition, according to Seigel, Lisa’s extravagant spending habits actually caused her estate to incur a debt of twenty million dollars by the year 2003, which was later remedied by him.

Lisa Marie responded by saying that she was unaware of the status of her estate and that, had Seigel informed her of the true nature of the situation, she would have curtailed her spending and instantly decreased her husband’s pay of $700,000 if she had known what was going on at the time.

She contended that if she had simply been able to access the money from the estate, she would have been able to have a comfortable life on anywhere between $1.5 and $2.5 million annually. Due to the discovery of Covid-19 in 2020, the continuing legal struggle was temporarily halted.

lisa marie presley net worth

In 2018, court filings from Lisa Marie and Michael Lockwood‘s divorce proceedings revealed that she owed $16 million in total debt. It is believed that the unpaid taxes incurred between 2012 and 2015 contributed around $10 million to the deficit.

The remainder of the debt consisted of outstanding credit card bills and attorney fees. After her former partner sought $400,000 to finance his own legal bills, Lisa responded by filing the necessary paperwork.

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