The following statement concerns the anticipated Lisa Marie Presley Net Worth 2022. There has been a lot of talk about how much money Lisa Marie Presley Net Worth 2022. More information about Lisa Marie Presley’s money woes may be found here.
Lisa Marie Presley Early Life: Whom With She Lived?
On February 1, 1968, in Memphis, Tennessee, Lisa Marie Presley entered this world. Lisa Presley moved in with her mom when Priscilla Presley and Elvis got a divorce.
Lisa Marie Presley Career In Music: How She Started Her Singing Career?
To Whom It May Concern, Lisa Marie Presley’s first album came out in 2003. Her 2005 album “Now What” served as a follow-up. Her follow-up album, much like her first, did quite well commercially. Her third studio album, “Storm & Grace,” came out in 2012. Presley has also worked with Kylie Minogue, Michael Buble, and Coldplay, among others, in addition to her solo efforts. She has also made cameo appearances in music videos for artists like Michael Jackson.
Lisa Marie Presley Personal Life: How Many Marriages Had She Done?
Lisa Marie Presley wed actor Danny Keough in ’88. They married, had two children, and split up in 1994. In 2020, at 27, their son Benjamin took his own life. Presley immediately wed Michael Jackson following her divorce from Keough.
Despite her assistance with Jackson’s problems, she sought a divorce from him in 1996. And then Lisa was engaged to musician John Oszajca, only to dump him and marry Nicholas Cage. Cage and Presley tied the knot in 2002, but they split up later that year.
Her marriage to Michael Lockwood began in 2006, and she welcomed a set of twins into the world in 2008. She claimed that she found child pornography on Lockwood’s computer in 2016, which caused her to file for divorce and seek sole custody of the children.
Lisa lost her father when she was just nine years old. Throughout his life, Elvis was notorious for his lack of fiscal restraint and his penchant for lavish spending. However, the King of Rock ‘n’ Roll was also grossly exploited by Colonel Tom Parker, who stole over half of Elvis’ money. The value of Elvis Presley’s estate was $5 million at the time of his death, or around $14 million in today’s dollars.
His inheritance, which was to go to his daughter Lisa, was solely administered by his wife, Priscilla. But Lisa Marie had only just turned nine at the time. After Priscilla calculated all the costs associated with administering Lisa’s estate, she realised that the original $1 million was now down to just $1.
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She made the bold move of transforming Graceland (Elvis’ mansion) into a museum, and just four days later, she had cleared out all of her debts and covered all of her outstanding bills and obligations. At 25, Lisa inherited an estate worth $100 million (around $295 million in today’s dollars).
She might have taken the money in a lump sum, but instead, she set up a revocable living trust and named Barry Seigel as trustee. Seigel sold 85% of Elvis Presley Enterprises (the company that handled his royalties and image rights) in February 2005.
Seigel’s deal only netted Lisa Marie $40 million after taxes, even if EPE was worth $100 million. On the plus side, the sale netted American Idol’s future holding company $25 million in equity.
Regrettably, between 2005 and 2015, all funding was cut off. While Lisa’s lavish spending habits played a role, the misuse of funds by Seigel and the rest of the financial management team is more likely to blame (despite their $700,000 annual salary). After paying off her debts and establishing her trust, Lisa Marie had only $14,000. Reportedly, her credit card debt was over $500,000.
Money Issues For Lisa Marie
Lisa Marie Presley has already terminated Barry Siegel by 2015. Two years later, she sued her former business manager, claiming that he had spent all of her $100 million money and left her destitute. She said he misled her about the state of the Presley estate and that the EPE acquisition was a bad idea.
Barry Siegel, defending himself, said that the estate’s financial woes were due to Lisa Marie’s wasteful spending. He also claimed to have met with her frequently for business purposes, during which he briefed her on developments and urged her to rein in her expenditures. To add insult to injury, Seigel later clarified that Lisa’s extravagant spending had left her estate $20 million in the red by 2003.
Lisa Marie retorted that she was unaware of her estate’s financial state and that had Seigel been honest with her, she would have cut her expenditures and his $700,000 pay immediately. She claimed that she could have gotten by between $1.5 and $2.5 million a year from the estate’s income alone. As a result of Covid-19, the ongoing legal struggle was shelved in 2020.
Lisa Marie’s $16 million debt was made public in 2018 thanks to divorce papers filed against Michael Lockwood. Unpaid taxes from 2012–2015 accounted for around $10 million of the total debt. Unpaid credit card balances and legal fees accounted for the remaining balance. Lisa took legal action after her ex asked for $450,000 to pay for his own legal representation.
Lisa Marie Presley Net Worth 2022
|Net Worth:||-$16 Million|
|Date of Birth:||Feb 1, 1968 (54 years old)|
|Height:||5 ft 2 in (1.6 m)|
|Nationality:||United States of America|
The American singer and actress Lisa Marie Presley net worth 2022 is -$16 million. Lisa Marie is an excellent singer-songwriter in her own right, although she is probably best known as the daughter and only child of Elvis Presley.
The many money problems plaguing the Presley estate she inherited at age 25 are reflected in her low net worth. Financial concerns are discussed in greater depth later in this text. Besides being married to Michael Jackson, she is well-known for her past involvement with the Church of Scientology.
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