Lisa Marie Presley is the sole daughter of the King of Rock and Roll, Elvis Presley, and famous American actress Priscilla Presley. Lisa is a famous singer-songwriter herself. As the sole daughter of a millionaire, she received inheritances worth millions. This includes her father’s Graceland Estate too.
However, in expectance of her to be worth a fortune, Lisa Presley is drowned in huge debts. As of 2018, she was estimated to be in debt of US$16 million. Let’s find out how she lost all her fortune.
Related: Lisa Marie Presley Net Worth: How Rich Is Elvis Presley’s Daughter?
How Did Lisa Presley End Up In Debt?
The main reason for her to end up in debt was related to a drama between Lisa and her financial manager Barry Siegel. As claimed by Lisa, Siegel mismanaged her funds through his reckless behavior and also hid the trust’s true conditions. She also accused him of having self-serving ambitions.
However, Siegel in turn claimed that the loss of the fortune was all due to Lisa’s lavish spending. And going into debt was her mismanagement of money. He said that she never confronted hard copies during their meetings, and this led to huge unpaid tax buildups, mortgages, and credit card bills.
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Where Is Lisa Marie Presley Now?
The news of Lisa being in a $16 million debt came up during the court procedures with her ex-husband Michael Lockwood. In her lifetime, Presley got married and divorced four times. These included famous husbands Michael Jackson, Nicolas Cage, Danny Keough, and Michael Lockwood.
During the last of her court procedures, she was seen trying to pay off her debts little by little. Presley last came up on the news during the release of her father Elvis’s biopic in 2022. ‘Elvis’ was seen grossing over $51 million in its opening weekend worldwide, as mentioned in South China Morning Post.
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