Lisa Marie Presley died after suffering from cardiac arrest Thursday, January 12. She was 54. As the only child and the sole heiress of her late father, Elvis Presley, many expect her to live the most affluent life—only a different thing happened.
So, what happened to the life of Lisa Marie, and where are her lost riches?
The Career of Lisa Marie Presley
Lisa Marie was an accomplished singer-songwriter in her own right. She dropped three albums, To Whom It May Concern, Now What, and Storm & Grace.
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Her first album was a success, reaching gold certification with the Recording Industry Association of America. She also released non-album songs, like duets with her dad, using the tracks he had dropped before his death in 1977.
Lisa Marie was also known as a former member of Scientology and the former wife of Michael Jackson and Nicolas Cage.
The Sole Heiress
When Elvis died, Lisa Marie became the sole heiress of his fortune. However, contrary to many’s expectations, the King of Rock ‘n’ Roll wasn’t that rich after years of wasteful spending and being tricked by his manager, Colonel Tom Parker.
He only left her daughter, who was only nine back then, with a million dollars. But thanks to her mom, Priscilla Presley, working as her estate executor, she had it grown in no time.
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At 25 in 1990, she inherited the full estate worth $100 million. But after alleged too much spending and claiming her manager squandered most of her huge fortune, she was only left with $14,000 in 2015.
Lisa Marie’s Debts and Alleged Income
Her manager, alternatively, claimed Lisa Marie put her estate in debt to a whopping $20 million in 2003. During her divorce in 2018, she was reportedly in debt for $16 million, including a million dollars she owed to the IRS.
On the other hand, her ex-husband, Michael Lockwood, alleged that Lisa Marie received about $100-200,000 per month from the Elvis Presley Enterprises trust. She was also allegedly only exaggerating about her financial woes, and she had control of a valuable trust, probably worth over $65 million, and still owned 15% of EPE.
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She also still owned Graceland. Lockwood also believed Lisa Marie received $3-4 million to write a book about Elvis and her relationship with Jackson.
At the time of her death, she was reportedly worth -$10 million.
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