Lisa Marie Presley Net Worth
Lisa Marie Presley net worth: Lisa Marie Presley is an American actress and singer who has a net worth of -$16 million. Lisa Marie Presley is probably most famous for being the daughter of Elvis Presley. Lisa has released three studio albums during her career, two of which achieved gold status. She released her third studio album called Storm & Grace, in May of 2012. It features a bluesy and soulful brand of roots rock which many music critics said was perfect for Presley's talents as a singer and as a songwriter. Outside of the recording studio, Lisa Marie curated an exhibit in honor of her famous father at Graceland. The exhibit, entitled "Elvis…Through His Daughter's Eyes" contains over 200 items related to the King of Rock and Roll collected by Lisa Marie over the course of her life. She has also received accolades for her work in philanthropy, particularly in service of her hometown of Memphis, Tennessee, which is famous as the birthplace of the careers of many rock and roll legends.
Elvis Presley's estate: Lisa was 9 years old when her father died. After years of over-spending and financial mismanagement, the estate was worth just $5 million at the time ($14 million today) of his death. Elvis left joint control of the estate to Lisa, her grandfather Vernon and her great-grandmother Minnie Mae. Vernon died in 1979, and Minnie Mae died a year later. At that point, 12-year-old Lisa became the sole heir of the Elvis estate and trust fund. At the time, the estate was estimated to be worth $100 million, roughly $295 million in today's dollars. According the terms of the trust, Lisa officially inherited her father's estate in 1993, on the day of her 25th birthday. In February 2005, Lisa sold 85% of Elvis' image, licensing rights and operational rights of Graceland to intellectual property company Core Media Group, for $100 million. The deal paid her $53 million in cash and absolved $25 million worth of debt that had been incurred by the estate. She also received $20 million worth of equity in Core Media Group (which at the time was called CKX Inc.). To this day Lisa maintains 100% ownership of Graceland itself including the 13 acres of grounds and her father's personal items.
Lisa Marie Financial Problems: In November 2017, Lisa filed a lawsuit against her former business manager for allegedly squandering $100 million of her fortune and leaving her broke. The lawsuit accused that the business manager of "reckless and negligent mismanagement and self-serving ambition". Lisa claimed that in May 2016, her trust which used to be worth well over $100 million, was worth just $14,000 and had $500,000 in credit card debt. The business manager claimed it was Lisa Marie who spent herself into debt. He claimed that her extreme spending habits actually put her estate $20 million in debt in 2003, which he corrected.
In February of 2018, as part of her divorce from Michael Lockwood, Lisa filed legal paperwork that showed she is $16 million in debt. $10 million of the debt is related to unpaid taxes dating from 2012 to 2015. The rest of the debt is credit card bills and unpaid attorney's fees. Lisa filed the paperwork after her ex demanded $450,000 to cover his legal fees.