Lisa Marie Presley is a well-known American singer and actress who is also famous for being the only child of legendary musician Elvis Presley. However, her financial situation has been a topic of discussion in recent years, with many wondering about her net worth. According to some sources, Lisa Marie Presley’s net worth as of August 2023 is estimated to be negative $16 million.
Despite being the heir to Elvis Presley’s estate, Lisa Marie Presley’s net worth has taken a hit in recent years due to a series of financial setbacks. In 2018, she filed a lawsuit against her former business manager, Barry Siegel, accusing him of mismanaging her finances and causing her to lose nearly all of her $100 million trust. The lawsuit was settled in 2020, with Presley receiving a $16 million payout.
Presley’s complicated financial situation has also been attributed to her extravagant lifestyle and costly legal battles. Despite her negative net worth, she continues to be a prominent figure in the entertainment industry and has released several albums over the years.
Early Life and Career
Lisa Marie Presley was born on February 1, 1968, in Memphis, Tennessee, to the legendary musician Elvis Presley and his wife Priscilla Presley. She spent her early years at Graceland, her father’s estate in Memphis.
Despite being the daughter of the King of Rock and Roll, Lisa Marie had a difficult childhood. Her parents divorced when she was just four years old, and she was raised primarily by her mother. She also struggled with drug addiction as a teenager.
Lisa Marie began her music career in the late 1990s, releasing her debut album, “To Whom It May Concern,” in 2003. The album was a commercial success, reaching No. 5 on the Billboard 200 chart. She went on to release two more albums, “Now What” in 2005 and “Storm & Grace” in 2012.
In addition to her music career, Lisa Marie has also been involved in various business ventures. She sold an 85% stake in Elvis Presley Enterprises to CKX in 2005, and also launched a fashion line called “Cocopop” in 2008.
Overall, Lisa Marie Presley has had a varied career, with successes and struggles along the way. Despite her famous name, she has faced her fair share of challenges and has worked hard to establish herself as a musician and entrepreneur in her own right.
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Music and Film Career
Lisa Marie Presley is not only known for being the daughter of the legendary Elvis Presley, but she also has a career in music and film.
In 2003, Lisa Marie released her debut album “To Whom It May Concern,” which debuted at number five on the Billboard 200 chart. The album was a mix of rock, country, and blues, and featured collaborations with Pink, Dave Navarro, and Glen Ballard. Her second album “Now What” was released in 2005 and reached number nine on the Billboard 200 chart.
Aside from her music career, Lisa Marie has also appeared in a few films. She made her acting debut in the 1988 film “Big Top Pee-wee” and later appeared in “The Naked Gun 33⅓: The Final Insult” in 1994. In 2003, she appeared in the film “Finding Graceland,” which was a fictional story about a man who believes he is Elvis Presley and goes on a road trip to Graceland.
Despite her success in both music and film, Lisa Marie has faced some financial struggles in recent years. In 2023, her net worth was estimated to be -$16 million, according to Parade.
Marriages and Family
Lisa Marie Presley has been married four times and has four children. Her first marriage was to musician Danny Keough in 1988, with whom she has two children: daughter Riley Keough and son Benjamin Keough. The couple divorced in 1994.
In 1994, Lisa Marie married Michael Jackson, the King of Pop, but their marriage ended in divorce in 1996. She then married actor Nicolas Cage in 2002, but the couple separated after just a few months. Her fourth and most recent marriage was to musician Michael Lockwood in 2006, but the couple divorced in 2018.
Lisa Marie has two children from her marriage to Michael Lockwood: twin daughters Harper and Finley. She has been involved in several high-profile legal battles, including a custody battle with Lockwood over their children and a lawsuit against her former business manager for alleged mismanagement of her finances.
Despite being the daughter of the King of Rock and Roll, Lisa Marie has faced financial struggles throughout her life. In 2023, her net worth was reported to be -$16 million, largely due to legal and financial issues. However, she continues to be involved in the music industry and has released several albums throughout her career.
Net Worth Over Time
Lisa Marie Presley’s net worth has fluctuated significantly over the years due to a combination of factors, including her own spending habits, legal battles, and the management of her finances. Here is a brief overview of her net worth over time:
- In 1993, Lisa Marie inherited an estate worth an estimated $100 million from her father, Elvis Presley.
- By the early 2000s, Lisa Marie’s net worth had reportedly dwindled to around $5 million due to her lavish spending and failed music career.
- In 2005, Lisa Marie sold 85% of Elvis Presley Enterprises to CKX for $100 million, which temporarily boosted her net worth.
- However, by 2018, Lisa Marie was claiming that her net worth had dropped to just $14,000 due to mismanagement of her finances by her former business manager, Barry Siegel.
- In 2020, Lisa Marie’s net worth was estimated to be -$16 million, largely due to her ongoing legal battles and debts.
Overall, Lisa Marie’s net worth has been highly volatile over the years, with significant fluctuations due to a variety of factors. Despite her initial inheritance and the success of Elvis Presley Enterprises, she has struggled to maintain financial stability in recent years.
Business Ventures and Investments
Lisa Marie Presley has been involved in various business ventures and investments throughout her career. She founded a record label called XIX Entertainment and invested in the music industry. However, the amount of Lisa Marie Presley’s net worth from music is unknown, but it’s an insignificant portion of her wealth.
In addition to her music ventures, Presley has also been involved in other business dealings. She sold an 85% stake in Elvis Presley Enterprises to CKX, the same company that owns American Idol, for $100 million in 2005. However, this investment did not turn out as expected, and Presley lost a significant amount of money.
Presley has also faced legal and financial troubles in recent years. Starting in 2005, she suffered an “11-year odyssey to financial ruin,” according to a lawsuit. She has been involved in various lawsuits, including one with her former business manager, who she accused of mismanaging her finances.
Despite her financial struggles, Lisa Marie Presley remains a well-known figure in the entertainment industry. Her father’s legacy continues to be a major influence, and she has made significant contributions to the music industry.
Legal Battles and Financial Troubles
Lisa Marie Presley’s net worth has been the subject of much speculation due to her legal battles and financial troubles over the years. In 2005, Presley reportedly inherited $100 million from her father’s estate, but by 2018, she was said to be worth only $16 million, according to Celebrity Net Worth.
One of the major contributors to Presley’s financial troubles was her divorce from musician Michael Lockwood. In 2016, Presley filed for divorce from Lockwood, and the ensuing legal battle drained her finances. Presley claimed that Lockwood had been using her money to support his own lifestyle and that he had amassed large debts in her name. Lockwood denied these claims and filed his own lawsuit against Presley, seeking spousal support and attorney’s fees.
Presley was also involved in a legal battle with her former business manager, Barry Siegel, who she claimed had mismanaged her finances and left her with huge tax bills. Siegel countersued, alleging that Presley’s own spending habits were to blame for her financial troubles.
In court documents filed in 2021, Presley revealed that she was in debt to the tune of $16.7 million, including $10 million in unpaid taxes. She also claimed to have only $14,000 in cash and $500,000 in retirement accounts. Presley’s monthly expenses were said to be $324,000, including $43,000 in mortgage payments, $17,000 in utilities, and $21,000 in credit card bills.
Presley’s financial troubles have been well-documented, and it remains to be seen how she will address her debts and rebuild her net worth in the coming years.
Philanthropy and Other Interests
Lisa Marie Presley has been involved in various philanthropic activities throughout her life. She has supported charities and foundations that focus on issues such as poverty, homelessness, and children’s education. In 2005, she was named as the Ambassador of Dreams for the charitable organization, Dreams Come True of Louisiana, which helps fulfill the dreams of children with life-threatening illnesses.
Presley has also been an advocate for the fight against AIDS. She participated in the 2003 AIDS Walk Los Angeles and donated a portion of the proceeds from her album sales to the AIDS Project Los Angeles. In addition, she has supported the Elton John AIDS Foundation and the American Foundation for AIDS Research.
Apart from her philanthropic activities, Presley has also pursued other interests. She is an avid horse rider and has competed in various equestrian events. She is also a collector of antique furniture and has been known to frequent antique shops and auctions.
Presley has also been involved in the entertainment industry as a singer-songwriter and actress. She has released several albums throughout her career and has acted in a few films and television shows. Despite facing financial difficulties in recent years, Presley has continued to pursue her passions and interests.