Lisa Marie Presley, Elvis Presley’s only child, inherited most of his estate including Graceland. Lisa (54) passed away yesterday (January 12) following a possible cardiac arrest. However, you’d be shocked to know that despite inheriting most of her father’s properties, the songwriter struggled with finances in her last years. Here’s everything you need to know about her net worth.
Lisa Presley’s Net Worth Explored
Lisa Presley was in absolute awe this week after Austin Butler won a Golden Globe Award for playing the iconic role of her father, Elvis Presley. But who knew that she’d be gone two days after? The only child of the “King of Rock and Roll” passed away Thursday (Jan. 12) following a possible cardiac arrest.
At the time of her death, Lisa Marie Presley’s net worth stood around $16 million. However, consider it as less than zero as she has a debt of an equal amount. The “Lights Out” singer inherited Elvis Presley’s estate including the historic Graceland after her father’s death.
Apart from this, she also owned 15% of Elvis Presley Enterprises at the time of her death. Despite owning so many properties, Lisa not only struggled in her personal life but also struggled financially.
In November 2022, Lisa earned $104,000 per month from Elvis Presley Enterprises, plus $4,361 monthly as a Graceland “employee.” At the time, she was having an annual income of about $1.3 million, despite the legacy Elvis left behind.
At the time of her father’s death in 1977, the estate was valued at around $5 million (roughly $25.4 million today). She inherited her father’s estate after she turned 25 in 1993. However, the property’s value had already fluctuated and was worth $120 million. All thanks to Priscilla, who turned Graceland into a tourist attraction that racked up around $15 million annually.
Why Did Lisa Struggle Financially?
Despite inheriting most of her father’s property, Lisa struggled financially during her last days. Many outlets reported that the reason behind her struggles was her extravagant lifestyle. If you aren’t aware, Lisa sold an 85% stake in Elvis Presley Enterprises to CKX, a company owned by American Idol. But then, the venture failed drastically.
Lisa Marie Presley and her business manager got into a tiff, and the “Lights Out” singer sued her, accusing her of a $100 million fortune due to mismanagement. However, her ex-manager filed a counter-suit, seeking $800,000 in unpaid fees and claimed that it was Lisa’s lavish lifestyle that contributed to her financial ruin.
As for the gold maker, Graceland remains the highest money-maker for Elvis Presley’s estate to date. However, the tourism business suffered tremendously due to the Covid-19 pandemic tremendously, affecting her earnings.
Now if you think, Elvis’s estate also includes royalties to Elvis Presley’s music, you are mistaken. In 1973, Elvis’ then-manager, Col. Tom parker pushed Elvis to sell his entire catalog for $5.4 million to recover from a gambling debt. As for Lisa, her net worth is zero as she has a debt of nearly $16 million. She has three children and nothing is clear about how things would be distributed.
