Lisa Marie Presley Net Worth

Published on December 12, 2022 | Published By: sofi | In Net Worth

Lisa-Marie's Net Worth

As of 2022, Lisa Marie Presley has a Net Worth of -$16 Million Dollars.
Lisa Marie was $16 million in debt, according to court filings from her divorce proceedings with Michael Lockwood in 2018.
In 2016, she filed for divorce and sole custody of the children, claiming she discovered child pornography on Lockwood’s computer.

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What is Lisa Marie Presley’s Net Worth? (Updated 2024)

Lisa Marie Presley is a -$16 million Net Worth American actress and singer. Lisa Marie Presley, Elvis Presley’s daughter and only child, is an outstanding singer-songwriter in her own right. Her negative Net Worth is the result of several financial troubles relating to the Presley estate, which she inherited when she was 25 years old. More information on these financial difficulties follows later in this essay.

Michael Jackson was previously her husband, and she was once a member of the Church of Scientology.

Net Worth:	-$16 Million
Date of Birth:	Feb 1, 1968 (54 years old)
Place of Birth:	Memphis
Gender:	Female
Height:	5 ft 2 in (1.6 m)
Profession:	Singer-songwriter
Nationality:	United States of America

Early Life

Lisa Marie Presley was born in Memphis, Tennessee on February 1, 1968. Lisa moved in with her mother after her parents divorced.

Music Career

In 2003, Lisa Marie Presley released her debut album, “To Whom It May Concern.”

In 2005, she released “Now What.” Her second album, like her debut, charted successfully. “She released her third album, “Storm & Grace,” in 2012. Moreover, Presley has collaborated with a number of high-profile performers, including Kylie Minogue, Michael Buble, and Coldplay, in addition to her solo work. She has also starred in music videos for Michael Jackson and other performers.

Source: brides (Lisa Marie Presley and Michael Jackson)

Relationships

Lisa Marie Presley married Danny Keough in 1988. They divorced in 1994 after having two children. Benjamin, their 27-year-old son, committed suicide in 2020. Presley married Michael Jackson shortly after divorcing Keough. Despite assisting Jackson with a lot of personal concerns, she filed for divorce in 1996. However, Lisa later became engaged to a singer named John Oszajca before divorcing him to marry Nicholas Cage. Cage and Presley married in 2002 and divorced the following year.

She married Michael Lockwood in 2006 and gave birth to twins in 2008. She filed for divorce and sole custody of the children in 2016, alleging she found child pornography on Lockwood’s computer.

Inheritance

Lisa was nine years old when her father passed away. Elvis was unconcerned about money and was known for his extravagant spending throughout his career. However, the Rock ‘N Roll legend was also entirely robbed by his manager, Colonel Tom Parker, who took half of Elvis’ profits. Elvis’ estate was worth $5 million at the time of his death, which is the equivalent of $14 million in today’s money.

His wife, Priscilla (Lisa’s mother), was the only executor of his inheritance, which was to be bequeathed to Lisa. Lisa Marie, on the other hand, was just nine years old at the time. When Priscilla discovered that Lisa’s bequest had been reduced to just $1 million after all expenses and fees were deducted, she started rebuilding the estate and dealing with its catastrophic circumstances. She took the bold move of converting Graceland (Elvis’ mansion) into a museum, and four days later she had paid off all debtors and unpaid costs. Lisa inherited her father’s inheritance when she was 25 years old, and it was worth $100 million (the equivalent of $295 million in today’s money).

Instead of inheriting the money directly, she set up a revocable living trust and engaged Barry Seigel to handle it. Seigel chose to sell 85% of EPE (Elvis Presley Enterprises), an entity that oversaw all of Elvis’ image rights and income, in February 2005. Despite the fact that EPE was valued at $100 million, Seigel’s acquisition only netted Lisa Marie $40 million after taxes. On the other side, the sale included $25 million in stock in American Idol’s future holding company, so it wasn’t all awful.

Unfortunately, the funds ran out between 2005 and 2015. Part of this was due to Lisa’s extravagant spending, but it was also most likely due to mismanagement by Seigel and other financial managers (who, incidentally, were paid $700,000 each year). After all was said and done, Lisa Marie was left with only $14,000 in the trust she had set up. She had over $500,000 in credit card debt.

Lisa Marie’s Financial Problems

Lisa Marie Presley had fired Barry Siegel in 2015. She sued her former business manager two years later for allegedly squandering $100 million of her riches and leaving her bankrupt. Moreover, She claimed that the EPE transaction was ill-advised and that he failed to inform her of the true circumstances of the Presley estate.

In his defense, Barry Siegel claimed that Lisa Marie’s extravagant spending was the true cause of the estate’s significant losses. He also claimed to have had monthly business meetings with her, during which he discussed the evolving situation and continually warned her to keep her spending under control. Furthermore, Seigel claimed that Lisa’s extravagant spending left her estate $20 million in debt by 2003, which he later refuted.

Lisa Marie responded by saying she had no idea about the situation of her estate and that if Seigel had told her what was actually going on, she would have curbed her expenditures and instantly decreased his $700,000 pay. Moreover, She said that if she had just had access to the estate’s revenue, she could have lived happily on $1.5 to $2.5 million each year. Covid-19 caused a pause in the current legal dispute in 2020.

Moreover, Lisa Marie was $16 million in debt, according to court filings from her divorce proceedings with Michael Lockwood in 2018. Unpaid taxes from 2012 to 2015 accounted for an estimated $10 million of the debt. Credit card bills and unpaid attorney expenses made up the remainder of the debt. Lisa filed the application after her ex wanted $450,000 in legal fees.

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