Lisa Marie Presley net worth accumulates $10 million at the time of her passing. She was born in 1954. Lisa Marie was the only child of Elvis Presley. She was a brilliant singer-songwriter in her own right, much like her father. She was also well-known for having been an earlier Scientology follower and for her relationships with Michael Jackson and Nicolas Cage.
Due to a $17 million loan, Lisa Marie Presley net worth increased negatively. Her ex-husband, Michael Lockwood, claimed she had access to more money, evading payments for child and spousal maintenance. Lisa Marie Presley, who was 9 years old when Elvis passed away in 1977, received his estate, which was significantly lower than expected due to extravagant spending and deception by his assistant, Colonel Tom Parker.
Lisa Marie Presley’s mother, Priscilla, served as the estate’s sole administrator for 16 years before inheriting the entire estate in 1990. Due to COVID-19, Lisa Marie Presley’s case against an earlier business manager was halted. In a 2018 divorce court battle, Lisa claimed she owed $16 million in debt and held $85,266 in cash and $714,775 in stocks and bonds.
Lisa Marie Presley net worth estimated the estate’s value to be between $400 million and $500 million in 2020, according to Rolling Stone.
Lisa Marie Presley net worth collectively $100-200,000 from the Elvis Presley Enterprises trust, but Lockwood argued she was overstating her financial situation. Lisa Marie Presley also owned Graceland, which proved to be both an opportunity and a curse.
Inheritance:
When Lisa Marie Presley’s father passed away, she was 9 years old. Elvis didn’t worry about money during his lifetime and was renowned for his extravagant spending. That being said, Colonel Tom Parker, Elvis’ manager, essentially took half of his client’s revenues, and so completely stole the Rock ‘N Roll legend.
Elvis’ estate was valued at $5 million at the moment of his passing. In today’s dollars, after accounting for inflation, Lisa Marie Presley net worth of that estate is equivalent to roughly $14 million. However, when different taxes, fees, and debts were settled, that sum decreased to $1 million. Lisa Marie Presley’s received the entirety of his estate.
Lisa Marie Presley’s mother, Priscilla, the widow of Elvis, served as the estate’s sole executor. Priscilla immediately began the estate’s reconstruction and management of its severe circumstances. She made the creative decision to convert Graceland, Elvis Presley’s home, into a museum. Amazingly, she repaid every debtor and unpaid bill within four days after it was created.
At the age of 25, Lisa Marie Presley net worth gotten of her father’s, which was then valued at $100 million ($220 million in today’s dollars).
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Barry Siegel had been sacked by Lisa Marie Presley by 2015. She launched an action against the former company manager two years later, alleging that he wasted her $100 million wealth and left her penniless. She alleged that he failed to disclose the truth to her regarding the true situation of the Presley estate and that the purchase of EPE was ill-advised.
In his defense, Barry Siegel stated that Lisa Marie Presley’s extravagant spending practices were the primary cause of her estate’s significant losses. He further asserted that they met regularly to discuss business, during which he explained the problem and reminded her to watch her expenditures.
He refuted Siegel’s assertion that Lisa Marie Presley’s estate was $20 million in debt by 2003 as a result of her extravagant spending. Lisa Marie Presley retorted that she was unaware of the state of the estate and that, had Seigel told her, she would’ve cut back on her expenditures and decreased his pay.
According to divorce court records from 2018, Lisa Marie Presley owed $16 million, of which $10 million was due to taxes not paid from 2012 to 2015. What was left were credit card bills.
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Elvis Presley paid $102,500 for Graceland, a 14-acre mansion near Memphis, in 1957. It was converted into a museum after his passing in 1977, and in 2006 it was designated a National Historic Landmark. With 500,000 visits a year, it is the nation’s second most common private residence in the US.
However, Graceland’s high operating, insurance, and maintenance expenses prevent it from constantly being a financial success. Memphis issued a $104 million loan in 2017 for development, but the COVID outbreak forced it to close, resulting in a $20 million debt default.
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Three years after obtaining her trust, in December 1993, Lisa Marie Presley purchased two homes in Hidden Hills, California. One parcel cost her $2.6 million, and the other $625,000. The 8,000 square foot home was situated on the 3+ acre estate.
In July 2010, Lisa Marie Presley put the house up for sale for just under $7 million.
In the end, a doctor offered her $5 million in November 2010. The doctor then started demolishing Lisa Marie Presley’s house and constructing a massive 15,000-square-foot mansion with French influences.
The newly constructed residence was sold by the doctor for $20 million in August 2014. It was purchased by Kanye West and Kim Kardashian. Yet another extensive refurbishment that took years was carried out by Kim and Kanye. Upon their divorce, Kim got the mansion. She continues to live there as her primary residence.
In March of 2020, Lisa Marie Presley net worth included $1.8 million for a home in nearby Calabasas, California. In March 2022, she sold this house for $2 million.
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