Lisa Marie Presley Net Worth (Money & Salary)

Lisa Marie Presley’s net worth related to money and salary is a topic of interest. The article examines various aspects of her financial situation and history. The discussion covers her inheritance from Elvis Presley, her marriages to Michael Jackson and Nicolas Cage, her own financial struggles and debts, legal battles over her estate, life insurance policies, will amendments, relationships, music career, and more. Despite the complex and tumultuous nature of her financial situation, there were notable elements like her inheritance and ownership of Graceland.

A museum was established in Elvis’ mansion, and astonishingly, all debtors and owed expenses were paid off within just four days after its creation.

Upon inheriting her father’s estate at the age of 25, Lisa Marie found it to be worth $100 million (equivalent to $220 million in today’s money).

Lost Fortune

Lisa Marie did not directly inherit the money; instead, she opted to form a revocable living trust and appointed Barry Seigel as the business manager to oversee the funds. Seigel orchestrated a deal in February 2005 to sell 85% of EPE (Elvis Presley Enterprises), responsible for managing all of Elvis’ image rights and royalties, for $100 million.

After taxes and fees, Lisa Marie ended up with approximately $40 million. The deal also included $25 million worth of stock in the future holding company of “American Idol,” which mitigated the loss.

Between 2005 and 2015, the money vanished. Lisa Marie attributed part of this to her extravagant spending. She later claimed that financial difficulties were due to mismanagement by Seigel and other financial managers, who incidentally were earning annual salaries of $700,000.

When everything was settled, Lisa Marie was left with only $14,000 in the trust she had set up and incurred over $500,000 in credit card debt.

Lisa Marie Financial Problems

By 2015, Lisa Marie had terminated Barry Siegel and later filed a lawsuit against him in 2017 for allegedly squandering her $100 million fortune, leading her to financial ruin. She argued that the EPE deal was unwise and that Siegel had not fully disclosed the state of the Presley estate.

Siegel defended himself by claiming that Lisa Marie’s extravagant spending was the primary reason for the estate’s substantial losses. He mentioned regular business meetings with her where he tried to explain the situation and caution her about limiting her expenses. Additionally, he shared that due to her spending habits, the estate had racked up $20 million in debt by 2003, which he rectified.

Lisa Marie countered, stating that she was unaware of the estate’s condition and would have curbed her spending and reduced Siegel’s $700,000 salary had she been informed. She argued that with access to only the estate’s income, she could have lived comfortably on $1.5 to $2.5 million annually. The ongoing legal battle in 2020 was paused due to Covid.

In 2018, during her divorce proceedings with Michael Lockwood, court documents revealed that Lisa Marie was $16 million in debt, with $10 million attributed to unpaid taxes from 2012 to 2015, and the rest in credit card bills and unpaid attorney fees. The filings were made after her ex requested $450,000 to cover his legal fees.

In June 2022, Michael Lockwood claimed in filings that Lisa Marie remained the beneficiary of a valuable trust potentially worth as much as $65 million. His filings asserted:

“Presley has significant income for purposes of a child support calculation due to continuing and recurring distributions Presley receives from her trust(s) and from the significant assets including her family business. Presley’s father was Elvis Presley, a world-famous entertainer and one of the most successful people in show business history. Presley is Elvis’ sole heir and, as such, is an owner of Graceland and interests in Elvis’ recordings, songs, merchandise rights, and life story rights.“

Graceland

Elvis’ Graceland, a 14-acre estate in Memphis bought for $102,500 in March 1957 (around $1 million today), became a museum open to the public after Priscilla Presley turned it into one to raise funds following Elvis’ death in August 1977. A National Historic Landmark, Graceland sees around 500,000 annual visitors and is the second most visited private home in the US, after the White House. However, despite its popularity, Graceland’s operational costs are high, prompting Memphis to offer a $104 million loan in 2017 for expansion after threats of relocating. The COVID pandemic resulted in Graceland’s closure and the accumulation of $20 million in missed debt payments during that period.

At the time of her passing, Lisa Marie Presley owned 85% of Elvis Presley Enterprises and 100% of the physical Graceland mansion.

Kardashian Mansion

In December 1993, Lisa Marie purchased two properties in Hidden Hills, California, three years after inheriting her trust, paying $2.6 million for one parcel and $625,000 for the other, featuring an 8,000 square foot mansion on a 3+ acre property.

In July 2010, she listed the property for sale, ultimately accepting $5 million in November 2010 from a doctor, who then demolished the home to build a 15,000-square-foot French-inspired mansion.

The doctor sold the new mansion to Kim Kardashian and Kanye West in August 2014 for $20 million, with the couple embarking on extensive renovations. Following their divorce, Kim retained ownership of the mansion, now her primary residence.

In March 2020, Lisa Marie purchased a home in Calabasas, California, for $1.8 million, later selling it in March 2022 for $2 million.

Death

Lisa Marie Presley suffered cardiac arrest at her Calabasas home on January 12, 2023, around 10:30 am. Although her heart was restarted after CPR en route to West Hills Hospital, she succumbed later that day at 54 years old. Her final public appearance was two days before at the 80th Golden Globes Awards with her mother. Her public memorial service at Graceland drew hundreds with over 1.5 million viewers via live stream. Lisa Marie was interred in the Graceland Meditation Garden beside her son Benjamin and adjacent to her father Elvis. Attendees included Axl Rose, Billy Corgan, Sarah, Duchess of York, Alanis Morissette, Baz Luhrmann, and Austin Butler.