What is Lisa Marie Presley’s Net Worth?
|Net Worth:||-$16 Million|
|Age:||54 Years Old|
|Country:||United States of America|
|Born:||1 February 1968|
|Salary (Annual):||$2 Million Per Year|
Lisa Marie Presley Net Worth: Lisa Marie Presley is an American singer and songwriter who has a net worth of -$16 million. She is best known as the only child and sole heir to her father, Elvis Presley’s $100 million inheritance.
She has released three albums and built a career in the music industry. In 2003, she released her debut album, To Whom It May Concern, and in 2005, Now What.
Along with her solo pursuits, she has collaborated with A-list celebrities including Kylie Minogue, Michael Buble, and Coldplay. Additionally, Lisa has also authored a book titled I’m Grateful to Be Alive to inspire those dealing with similar challenges as her. She has had four marriages, the most noteworthy of which was her wedding with the late pop superstar, Michael Jackson.
Lisa was honored with the Humanitarian Award in 2002 by the World Literacy Crusade, an initiative backed by the Church of Scientology, for her work promoting study skills among children in the United States.
Mitchell J. Landrieu, the mayor of New Orleans, also presented Lisa with a Certificate of Proclamation. In 2011, Memphis Mayor A.C. Wharton Jr. declared a day to honor her philanthropic work. Furthermore, She has been involved in numerous legal and financial issues.
Lisa Marie Presley was born on February 1, 1968, to Priscilla Presley and Elvis Presley at Baptist Memorial Hospital-Memphis in midtown Memphis, Tennessee. She resided in Los Angeles, California, with her mother after her parents divorced, visiting her father frequently at Graceland. His father died in 1977.
When Queen performed at The Forum in Inglewood, California, she went and saw her first rock concert. She later expressed her love of theatrics. When Lisa was between the ages of 12 and 15, it is claimed that she was sexually assaulted by Michael Edwards, an actor who her mother began dating following Elvis’ passing.
She quit school and started using drugs illegally as a junior in high school. Presley was admitted to the Celebrity Center of Scientology at the age of 17.
In 2003, Lisa Marie Presley released her debut album titled, To Whom It May Concern, marking the beginning of her musical career. After reaching the Billboard list, the album’s domestic sales earned it a gold certification. Great reviews helped the album reach its Billboard 200 chart debut at position five.
She did, however, perform for the first time on the 20th anniversary of her father’s passing, merging her voice with his on the song, Don’t Cry. The second album of Lisa Marie Presley, “Now What,” was released in 2005. Her third album, “Storm and Grace,” which turned out to be one of her best albums, was released in 2012 as a result of the album’s success.
Along with these musicians, Lisa Marie Presley has also worked with Coldplay, Michael Buble, Pat Benatar, and Carly Simon.
Lisa Marie Presley Inherit
She acquired Graceland as the sole heir after the passing of her father in 1977, Vernon in 1979, and Minnie Mae in 1980. She received the inheritance in 1993 when she became 25 years old, and the fortune had increased to an estimated $100 million. In his will, Priscilla Presley was one of three trustees, along with the National Bank of Commerce in Memphis and Joseph Hanks, the Presleys’ former accountant.
As the Elvis Presley Trust was being managed, Presley was more personally involved. She served as the company’s owner and board chairman until 2005, when she sold CKX, Inc. 85% of the estate’s business holdings, excluding Graceland.
In 2012, Lisa unveiled a brand new exhibit at Graceland. 200 pieces were put together for the exhibition Elvis…Through His Daughter’s Eyes by Presley and the Graceland Archives staff. Among the things on the show are family heirlooms, toys, and rarely seen home movies.
Her father gave her the name of a private plane he owned in 1975. To be used as his primary vehicle while on tour, he spent more than $1 million restoring it. Graceland has two aircraft on display: the Hound Dog II and the Lisa Marie.
Problems with Finances
Elvis Presley passed away in 1977, leaving behind a debt-ridden estate with only roughly $5 million in cash. The IRS assessed a $10 million estate tax on the Elvis Presley estate after concluding that the estate’s tax statement understated its true value.
Because Colonel Tom Parker, Elvis’ controversial manager, negotiated a deal to sell most of his records to RCA for a pitiful sum, the estate was unable to rely on royalties from those works.
Priscilla and her co-executors helped the Elvis Estate’s value increase to an estimated $100 million by 1993 thanks to Graceland earnings, merchandise, image partnerships, and royalties from songs released following the RCA deal. When Lisa reached 25 that year, she qualified for a direct inheritance from Elvis’s Last Will and Testament and was so qualified to inherit the money.
Instead, she established her own trust and named additional people to serve as trustees for her fortune. She named Barry Siegel, the company’s business manager, as a co-trustee ten years later.
Upon taking office less than two years ago, Siegel made the decision to sell 85% of the Trust’s shares in EPE for just $40 million after taxes. Nearly all of the Trust’s funds vanished between 2005 and 2015, leaving Lisa with a huge debt.
She claims in the case that Siegel and Provident misled her about the Trust’s true financial situation and gave her the Trust principal instead to utilize for extravagant expenditures, including $39 million in just four years, from 2005 to 2008. Lisa notes that at the time Siegel was fired in 2015, the Trust had only $14,000 in cash, and she was still liable for thousands of dollars in back taxes and other debts.
According to Lisa, she would have been worth at least $100 million if it weren’t for the disastrous EPE sale and investment into the American Idol holding firm. Lisa claims she would not have permitted Siegel and Provident to levy fees that totaled an average of over $700,000 annually.
Siegel rejects the accusations and asserts that Lisa is solely to blame for her failure to make ends meet. Despite his objections, Siegel had to provide an accounting report for the Trust activity that was under his supervision. The legal case is still pending.
|Name||Lisa Marie Presley|
|Net Worth||-$16 Million|
|Date Of Birth||February 1, 1968|
|Income||$2 Million (Annual)|
Lisa has been married four times. Riley Keough and Benjamin Storm Keough, who committed suicide in 2020, were born into the marriage between her and singer Danny Keough, which lasted from 1988 until 1994.
Lisa first met singer Michael Jackson in 1975 while attending several of his concerts in Las Vegas as a seven-year-old. Twenty days after divorcing Keough, she married Jackson. Jackson became dependent on her as the allegations of child abuse spread, and she started to worry about his deteriorating health and drug use.
Shortly after, she made an attempt to get Jackson to resolve the accusations without going to trial and seek treatment for his recovery. According to court documents, she filed for divorce in 1996, citing irreconcilable differences.
She met Cage in 2000 while still engaged to musician John Oszajca. In order to date Cage, she quickly called off her engagement to Oszajca. In Hawaii, the pair got married soon after, but they split 108 days later.
Lisa married guitarist, producer, and filmmaker Michael Lockwood for the fourth time in 2006 and divorced in 2016. They had fraternal twins, Harper and Finley.
Lisa serves as the chairperson of the Elvis Presley Charitable Foundation (EPCF), which was established by Graceland/Elvis Presley Enterprises, Inc. in 1984. In order to support students majoring in the arts, EPCF also funded the Elvis Presley Music Room and established the Elvis Presley Endowed Scholarship Fund at the University of Memphis’ College of Communication & Fine Arts.
Elvis Place, which offers homeless families up to a year of rent-free accommodation, child daycare, and other resources to help them escape the poverty cycle, accepted its first residents in 2001.
Following Hurricane Katrina’s devastation of New Orleans and the surrounding areas, Lisa became a member of Oprah Winfrey’s Angel Network and participated actively in the relief operations.
Lisa started supporting the Dream Factory in 2011. Together with Michael Jackson, she visited hospitals and orphans all over the world. To generate money for the charity, The Snowball was held at the Prince Regent in Chigwell. It brought approximately $59,000 to help fulfill the wishes of youngsters with terminal illnesses.
The GRAMMY Signature Schools program honors the nation’s top public high schools for their exceptional dedication to music education. Presley gave the Gold Grammy Signature School honor to Long Beach Polytechnic High School in 2004. She spoke with students in 2005 about possible careers in the music business.
In San Francisco, Lisa resides with her family They resided in a Tudor-style manor house in Rotherfield, East Sussex, England located 15 miles east of Saint Hill Manor, the Church of Scientology’s British headquarters, between 2010 and 2016.
In 2020, Lisa paid $1.8 million for the Calabasas house. Four months later, her son Benjamin Keough shot and killed himself there. Lisa later sold the house for $2 million in an off-market transaction, bringing an end to her short ownership history.
Lisa also owns a home in Hidden Hills that features a jacuzzi, sauna, and pool that are all estimated to be worth $8 million apiece.
Lisa Marie Presley’ Net Worth
As of 2022, Lisa Marie Presley’s net worth is estimated at -$16 million. She is the ex-wife of the united states’ best dancer Michael Jackson and she got most of the money from her father. At the age of 25, Lisa Marie inherited her father’s net worth of $100 million.
She’s had a career as a musician in blues, country, and folk music. Additionally, Lisa Marie has worked as a songwriter on occasion. She has had four marriages, with her relationship with the late Michael Jackson being the most prominent. She is involved in several legal and financial troubles, which have a negative impact on her net worth.