As the sole heir of musical legend Elvis Presley it would be easy to think that the net worth of his daughter Lisa Marie Presley would be in the millions. However, some reports say the singer died millions of dollars in debt after squandering the Presley family fortune.
Elvis Presley died in 1977 leaving his entire estate to his daughter, Lisa Marie, who was nine at the time. When she received her inheritance at the age of 25, it was estimated to be worth $100 million USD.
However, this immense fortune dwindled drastically over the years leaving the singer and songwriter in dire financial straits. Lisa Marie’s financial struggles have made front-page news over decades, and in 2018 she took out legal proceedings against her business manager accusing him of losing the majority of her inheritance due to poor investments.
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In court documents, Lisa Marie alleged that Barry Siegel assured her that her finances were in “good shape” despite her losing nearly her entire fortune of $100 million USD and leaving her with thousands of dollars in unpaid bills.
Presley's love life also cost her money in divorce payments over the years. The singer married and divorced four times during her life (including Michael Jackson and Nicolas Cage). Her most recent split in 2020 saw former husband number four Michael Lockwood claiming over $250,000 to cover the cost of his legal fees.
Lisa Marie, who was a recording artist in her own right had made some profits from her recorded work over the years and at the time of death still owned Graceland, her father's iconic Tennessee mansion and museum, where her father and her son are buried.
Her three daughters survive her, but it’s unclear who will inherit what’s left of the Presley estate.