Lisa Marie Presley Net Worth 2023: How Much Money Did She Inherit?
Lisa Marie Presley Net Worth: At the time of Elvis’s death in 1977, when Lisa Marie was just nine years old, she was a huge fan. Once she turned 25, she inherited an estimated $100 million estate. Lisa Marie Presley, the sole child of Elvis Presley, was reported dead on Thursday, January 12th, after cardiac arrest.
The housekeeper discovered her unresponsive in bed, and she was rushed to the hospital. Her death was tragically announced a few hours later despite being placed on life support. The news has piqued the interest of Lisa Marie’s admirers, who want to know more about her family and career.
Lisa Marie had financial difficulties before her death, which became public knowledge after her divorce from musician Michael Lockwood. The facts we knew before Lisa Marie Presley’s death are as follows.
Lisa Marie Presley Biography
Singer and composer Lisa Marie Presley is the only child of American music legend Elvis Presley. Born in Tennessee to music legends Elvis and Priscilla Presley, she was raised in a musical household. She came from a wealthy and well-known family, yet she did not enjoy a carefree youth.
She was present throughout the breakdown of her parent’s marriage and later saw her father succumb to drug addiction. She also struggled with drug addiction as a young person, but she beat it by the time she turned 21. Eventually, she chose to pursue music on her own.
Her self-titled debut album was published in April of 2003 and reached #5 on the ‘Billboard 200,’ eventually being certified gold. Her following two albums, Now What and Storm and Grace also did well. She has worked with many other performers and done countless acts of kindness.
Lisa Marie Presley Early Life
Lisa Marie Presley was born on February 1, 1968, in the singer’s mansion in Memphis, Tennessee, to Elvis Presley and his acting wife, Priscilla Presley. However, things weren’t swimmingly at home; her parents weren’t exactly smitten with one another and were on the verge of splitting up. Lisa’s age at the time was 4.
After her parents split up, Lisa spent time with both of them. She split her time between her parents’ homes, spending a few months at her dad’s in Tennessee and the rest at her mom’s in Los Angeles. Lisa had a lot of love for her dad. He routinely brought her to his concerts and did everything he could to make her life as easy and comfortable as possible.
Additionally, she began singing when she was little, and her father frequently boasted about her ability to his acquaintances. But when Lisa was nine years old, tragedy hit her family. In August 1977, Elvis Presley died of heart failure due to his drug addiction. Lisa’s loss was particularly devastating because of their strong relationship.
Lisa relocated to Beverly Hills, California, with her mother after her father’s passing. She got hooked on drugs while at the all-female Westlake School for Girls. She indulged in rock music and drugs. She had become a miserable and alone young woman. After her father passed away, she struggled to go on with her life.
She went on a drug binge for 72 hours when she was 18 and decided she didn’t want to end up like her dad. Immediately, she decided to change her life for the better. This major life event inspired her to pursue a music career.
Lisa Marie Presley Career
Lisa Marie Presley was born on February 1, 1968, in Memphis, Tennessee, at the home of her famous parents, Elvis and Priscilla Presley. But things weren’t great at home; her parents weren’t exactly smitten with one another, and their marriage was on the rocks. Back then, Lisa was only four years old.
Lisa has split her time between her parents even after their divorce. She would split her time between her mother’s mansion in Los Angeles and her father’s cabin in Tennessee. Lisa loved her dad very much. Taking her to his shows was a regular occurrence, and he spared no expense in making her life as luxurious as possible.
Even when she was little, she was interested in singing, and her father delighted in boasting about her to his acquaintances. Sadly, when she was nine years old, Lisa’s life was cut short by tragedy. As a result of his drug addiction, Elvis Presley collapsed and died of heart failure in August of 1977.
Lisa was heartbroken because of her tight relationship with her father. Lisa moved home with her mother in Beverly Hills, California when her father died. She developed a heroin habit at Westlake School for Girls, an all-female boarding institution. Her lifestyle consisted of rock music and drug use.
She had become a lonely and gloomy teenager. After her father passed away, she had a hard time moving on.
At eighteen, while on a drug binge that would last 72 hours, she had an epiphany: she did not want to end up dead like her father. She made an instantaneous decision to change her life for the better. That life-altering experience inspired her to begin her musical career.
- Carla Diab Net Worth: How Wealthy is the Tv Star, Carla?
- Damian Romeo Net Worth: How Much Money Does Cult of Nightmares’s Star Have?
Lisa Marie Presley’s Net Worth
You may be perplexed about how Lisa Marie might have died with a negative net worth. Lisa claims she is currently $17 million in debt, a significant increase from previous years. Lisa’s ex-husband was alleging that she was using the two of them’s joint debt to avoid paying him a substantial child and spousal support, even though she had access to far more income.
A brief rundown of Lisa’s money matters from when she was nine years old until her death follows. Much more information is provided later in this post. Elvis Presley was 44 when he passed away in 1977. He gave Lisa Marie his entire estate. There was a period when she was nine years old.
Elvis was much poorer than people thought he was due to years of wasteful spending and being bilked by his longtime manager Colonel Tom Parker. Elvis was worth $5 million when he passed away. After paying bills, taxes, and other expenses, Lisa has only left one million dollars. In today’s terms, that’s equivalent to about $5 million.
Lisa’s mother, Priscilla, was the sole executor of the estate for the next 16 years when Lisa was barely nine. On her 25th birthday in 1990, Lisa received the entire estate. Lisa inherited $100 million from her mother, the equivalent of almost $220 million in today’s dollars, thanks to her mother’s astute financial maneuvering.
Later in this piece, we’ll explain how Lisa sued her former business manager, claiming that he frittered away most of her enormous money. In her case, she alleged that by 2015, the trust money had been reduced to only $14,000.
The business manager claimed that Lisa Marie’s wasteful spending was to be responsible for the $20 million in debt that her estate had accumulated by 2003, a hole from which he had to rescue it. COVID caused a delay in her lawsuit against the former business manager.
Lisa claimed $16 million in debt during their 2018 divorce court battle. Lisa’s ex-husband of ten years, Michael Lockwood, claimed she got between $100,000 and $200,000 per month from the Elvis Presley Enterprises trust.
In addition, Lockwood stated that Lisa was embellishing her financial situation, as she still held 15% of Elvis Presley Enterprises and managed a belief that may be worth as much as $65 million.
Even though their divorce was finalized in March 2021, Lockwood sought that the court sees Lisa’s tax returns a year later because he thought she had received an advance of $3 million to $4 million to write a book about her father and her friendship with Michael Jackson.
Frequently Asked Questions
Who Gets Royalties From Elvis?
Since Elvis had a stake in each of his publishing firms, EPE also retains the publication rights to all 700 recorded songs. Given that the publishing rights to his songs were not transferred to RCA, the EPE continues to collect publishing payments on his behalf.
How Much Did Elvis Pay For His House?
When Elvis Presley was 22 years old, in the spring of 1957, he paid a little over $100,000 for the house and property. Elvis Presley’s first year as a global superstar was a flurry of historic network television performances, sold-out arena shows, and a slew of gold record awards.
Final Words: We hope you have found all the relevant information about Lisa Marie Presley’s Net Worth. Stay tuned with us here at Domaintrip.com for more latest news and information.