What Was Lisa Marie Presley’s Net Worth at Death? How Did Lisa Marie Presley Die? – Singer-songwriter Lisa Marie Presley was American. She was the lone child and sole heir to her father’s inheritance of singer and actor Elvis Presley and actress Priscilla Presley. Presley released three albums during his career in the music industry: To Whom It May Concern in 2003, Now What in 2005, and Storm & Grace in 2012. According to the Recording Industry Association of America, her debut album was awarded Gold certification. Additionally, Presley issued non-album singles, including duets with her father utilizing songs he had already made public before his passing.
Michael Jackson, Danny Keough, Nicolas Cage, Michael Lockwood, and Nicolas Presley all had previous marriages.
After hearing the news, people have been more interested in learning more about Lisa Marie’s personal life, including her children and her income. Sadly, Lisa Marie had financial problems before her passing, many of which became apparent after her divorce from musician Michael Lockwood. What is known about the situation before to Lisa Marie Presley’s passing is listed below.
What Was Lisa Marie Presley’s Net Worth?
Lisa Marie Presley is a singer-songwriter and the only daughter of Elvis Presley. Her total networth is about $16 million.
Financially speaking, Lisa Marie could have done better; according to People, she had a reported debt of more than $16 million. But how is this possible since I am the sole heir to Elvis Presley’s estate?
When Lisa Marie’s father passed away in 1977, she was just 9 years old. His estate was valued at $5 million at the time of his passing.
You would be correct in thinking that Elvis should have been worth more. Elvis’ manager for more than two decades was a man by the name of Colonel Tom Parker, who reputedly kept almost half of Elvis’ earnings. (The normal salary range for managers is between 10% and 20%.) According to his ex-wife Priscella Presley, Elvis was glad to pay Parker this sum, while others believed a scam artist duped him.
Priscilla Presley assumed the role of executor of Elvis Presley’s estate in 1979, which included spending about $1 million a year on Graceland upkeep and taxes.
Graceland was converted into a museum and made accessible to the public by Priscilla in 1982. After just four days of operation, the attraction was such a smashing success that she could pay off all outstanding obligations and expenses. The estate’s value once reached $100 million.
In 1993, when Lisa Marie turned 25, she became the estate’s heir. However, maintaining it turned out to be equally as challenging as it had been for her mother initially.
According to Today, by 2004, the estate owed $25 million in debts. The following year, Lisa Marie decided to sell 85% of the business portion of the business while keeping 15%, which comprised the home at Graceland and its contents. She received $53 million in cash from the sale and was released from the estate’s financial obligations.
Sadly, it didn’t appear like that money was around for very long. 2018 revealed a $16.7 million debt during Lisa Marie and Michael Lockwood’s divorce proceedings. Lisa Marie’s prior business manager allegedly seriously mismanaged her finances, resulting in her having unpaid income taxes, a defaulted mortgage, and enormous credit card debt, according to her then-business manager, who spoke with People.
He added that Lisa Marie had less than $20,000 in liquid assets when she sacked her former business manager because she “had not been furnished with adequate accountings or notices or kept aware of her affairs.”
In court records, Lisa Marie stated that she only received money from her father’s estate was “a monthly salary of $4,361 and $100,000 in dividends and interest from investments.” Although $1.25 million in yearly income might sound like a lot, it was obviously insufficient to pay off her debts.
Lisa Marie’s most recent record was published back in 2012, so her music career was probably not making her a lot of money. It was unknown whether she intended to keep releasing new tracks before she passed away.
How Did Lisa Marie Presley Die?
Presley experienced a heart arrest on January 12, 2023, at her Calabasas, California, residence. After receiving CPR, Presley’s heart was revived while being transported to a hospital. Later that day, she passed away at the age of 54. Her mother, Priscilla Presley, announced the news of her passing. She made her final public appearance at the 80th Golden Globe Awards on January 10, 2023, along with her mother.