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    How Is Lisa Marie Presley In Debt Despite Inheriting Her Dad Elvis Presley’s Millions And His Graceland Estate?

    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.

    In case you missed: Elvis Presley Home Graceland: Why It’s The Second Most Visited Home In America?

    Where Is Lisa Marie Presley Now?

    Lisa Marie Presley and Michael Lockwood

    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.

    You might also like to read: Elvis Presley’s Ex-Girlfriend Linda Thompson Is Unhappy With His New Biopic. Here’s Why

    Ponsy Pegu
    Ponsy Pegu
    Ponsy Pegu is an ardent supporter of love, and even has a mini tattoo of a heart. She loves everything art, fashion, music, photography. She would love to discuss movies with you over a cup of coffee. Ponsy wants to pursue International Relations in the future and roam around the globe.

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