LIFESTYLE

Lisa Marie Presley Was Close To Bankruptcy Despite Being The Sole Heir To Her Father's $100 Million Fortune

November 27, 2019 09:36

The only daughter of iconic musician and entertainer Elvis Presley – and the sole heir to his astounding fortune revealed her total net worth to the public through a series of documents. And her confession really surprised her numerous fans.

Lisa Marie Presley's net worth

Although the woman has been married three times it's her divorce with Michael Lockwood that made Lisa talk about her net worth and it really shocked many. Despite her successful career as an actress and singer and being the sole heir to her father's fortune, Lisa Marie experienced a lot of financial troubles.

So, now in 2019 – Lisa Marie Presley's estimated net worth stands at a (negative) -$16 million. And it's really weird considering the fact that her father left Lisa more than $100 million at that time – which would be something like $295 million in today’s dollars.

So what happened to Lisa Presley's money?

Presley eventually sold 85% of Elvis’s image as well as the licensing and operational rights of Graceland to Core Media Group. The deal paid out $100 million, only $53 million of it coming to her as cash.

Lisa Marie reported having $500,000 in credit card debt in 2016. Even with Graceland pulling in millions of dollars annually, Presley has a lot to pay back to make it into the positive.

In November 2017, Presley filed a lawsuit against her former business manager, Barry Siegel.

According to Presley, Siegel’s shady practices and reckless behavior resulted in her being broke. She stated in the suit that Siegel squandered $100 million of her inheritance through “reckless and negligent mismanagement” of her estate. Siegel countersued for $800,000 in non-payment damages and maintains that Presley is to blame for the loss of her wealth.

Unfortunately, the legal proceedings are still ongoing.

People's reaction

People, however, could not help but criticize Lisa for her choices with one user saying:

She claims she’s broke, but owns like 10 mansions.

Another one added,

she blew it

while others admitted this situation to be "sad".

Lisa Marie Presley's life today

Despite the financial problems, Lisa remains positive about life and doesn't give up! She has four children: Riley, Benjamin, and twins Finley and Harper.

Lisa Marie Presley lives a private life with her close family, but she does often share photos of her children on social media. And you know what? We believe she is happy despite all financial troubles.

We hope Lisa will overcome all obstacles and find financial stability. Do you agree? What do you think? Share your thoughts in comments.

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