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Lisa Marie Presley Is On The Road To Bankruptcy After Her Father Left Her With His $100 Million Fortune And She Failed To Manage It

Date October 21, 2019 17:09

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

Lisa Marie Presley's net worth

Although the woman has been married three times it's her divorce with Michael Lockwood that made Lisa reveal her net worth and it really shocked many. Despite her successful career as an actress, songwriter and singer and being the sole heir to the fortune her father worked hard for, Presley is currently in quite a lot of financial trouble.

So, now in 2019 – Lisa Marie Presley's estimated net worth stands at a (negative) -$16 million. And it's really strange considering the fact that her dad 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 fortune?

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 used-to-be 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.

The legal proceedings are ongoing.

People's reaction

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

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

while others admitted this situation to be "sad".

Lisa Marie Presley's life today

Despite the financial problems, Lisa seems to ramain being positive about life and doesn't give up! She has four children: Riley, 30; Benjamin, 26; and twins Finley and Harper, both 10.

Lisa lives a relatively private life with her family, but she does often share photos of the kids on social media. And you know what? We believe the money the have is enough to live a happy life together.

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