Lisa Marie Presley Died With $4 Million in Debt, Had Multiple Life Insurance Policies: Report.
After Lisa Marie's debts are paid, the remaining fortune will be divided among daughter Riley Keough and twins Finley and Harper Lockwood. However, Priscilla is already contesting her late daughter's will, which ousted Priscilla as a beneficiary in 2016.
Somewhat shockingly, Lisa Marie Presley's net worth in 2023 was estimated to be $-16 million.
Lisa Marie Presley's net worth was negative $10 million at the time of her death, according to Celebrity Net Worth.
Lisa Marie Presley made news again after her death when it was announced that her daughters, Riley Keough and twins Finley and Harper Lockwood, would inherit the mansion Graceland, located in Memphis, Tennessee formerly belonging to their grandfather, Elvis Presley.
Sadly for Lisa Marie, her inheritance never included the royalties to the many songs of Elvis Presley's which were recorded. This was due to a poor deal negotiated by Elvis' manager, Colonel Tom Parker, which meant all future royalties were signed away.
The only daughter of Elvis and Priscilla Presley, Lisa Marie was the sole inheritor of her father's famed mansion.
The fate of Elvis Presley's Graceland mansion has been revealed. The Memphis, Tenn. estate will be inherited by Lisa Marie Presley's three daughters—Riley Keough and Harper and Finley Lockwood—following her death at age 54, a representative for Graceland confirmed to E! News on Jan. 17.
In 1993, Graceland purchased the property. Today, all shops and attractions in what is now known as Graceland Plaza are owned and operated by EPE.
Sillerman and his company CKX Inc. Lisa Marie Presley retained 15% ownership in Elvis Presley Enterprises. Fortune reported at the time that the deal garnered CKX a 90-year lease on the mansion as well as the publishing rights to 650 Elvis songs, although the royalty rights to far fewer.
A majority of this money comes in through Graceland, which earns around $10 million annually during a typical year. All in all, the Presley estate is worth anywhere between $400 to $500 million as of 2020, according to a Presley estate executive cited in a report by Rolling Stone.
mansion, Graceland, will stay in the Presley family. Following the death of Lisa Marie Presley on Thursday, the property, which is in a trust, will benefit Lisa Marie's three daughters, Riley, Harper and Finley, a representative for Graceland confirms to PEOPLE.
She is survived by her mother, Priscilla, and three daughters: Riley Keough and teenage twins Harper and Finley Lockwood. A representative for Graceland said that Presley's three daughters will inherit a small part of the property and a 15% stake in the estate.
Graceland failed to pay off $20million of $104million issued by the economic development agency (EDGE) for a mass expansion project in 2017. It comes as the owner Lisa Marie Presley died after suffering a cardiac arrest yesterday aged 54, sparking questions over who will get the mansion.
After her $100 million Elvis Presley estate inheritance was squandered away by bad business dealings and a shady manager, Lisa Marie found herself in debt to the tune of $4 million at the time of her death at the age of 54.
At the time of Elvis' death in 1977, his estate was worth about $5 million (roughly $25.4 million in today's dollars). Lisa Marie Presley inherited her father's estate when she turned 25 years old in 1993.
After the home was opened to the public in 1982, the second floor was sealed shut out of respect to the family — and also to avoid any macabre attention at the scene of his death.
In the spring of 1957, when Elvis Presley was 22, he purchased the home and grounds for just over $100,000.
Following Elvis's death, he left Lisa Marie ownership of the Graceland estate through a trust fund set up in her benefit. That trust dissolved when she turned 25 in 1993, giving her full ownership of the property, which now hosts popular public tours and sits next to museums honoring Elvis's life and career.
Elvis Presley's iconic Graceland mansion will stay in the family after the death of his only child, Lisa Marie Presley. The 54-year-old singer died last week after suffering a cardiac arrest. Presley's three daughters, Riley, Harper and Finley, will inherit the Tennessee estate, according to a representative.
Priscilla appears to not understand the depths of what Walter was implying — that she was groomed. She said that she was rebellious and Elvis was “charming” and really won over the likes of her parents, even if it meant missing days of school to travel and see him.
Elvis Presley was always reputed to be a free-spender. Estimates place his lifetime earnings anywhere from $100 million up to one billion dollars.
The Colonel himself ended up being the greatest sucker of them all, giving back almost his entire fortune to the Hilton croupiers.
CARMA LOVELY PRESLEY - Owner - The Guest House at Graceland | LinkedIn.