By AIMEE PICCHI/CBS News

Lisa Marie Presley, the only child of Elvis and Priscilla Presley who died on Thursday at age 54, leaves behind a rock-and-roll legacy — including a rocky financial path filled with losses and lawsuits over money. 

Presley, a singer-songwriter like her father, wasn’t rich enough to make the Forbes list of highest-paid entertainers, while some celebrity websites even estimated that she may have had a negative net worth at her death. 

A detailed glimpse of her financial situation emerged in 2018 when she sued her former manager, Barry Siegel, claiming he had mismanaged her finances, resulting in her $100 million trust dwindling to $14,000 in cash by 2016. The lawsuit also claimed Presley had racked up $500,000 in credit card debt, according to Reuters.

Starting in 2005, Presley suffered an “11-year odyssey to financial ruin,” the lawsuit claimed. “Lisa has been damaged in an amount that has not yet been fully ascertained, but is believed to be in excess of $100 million.”

The suit followed her 2021 divorce from musician Michael Lockwood. During the divorce proceedings, Presley claimed she was $16 million in debt, with most of that stemming from unpaid taxes, according to TMZ.

Presley blamed the root cause of her financial woes on a 2005 deal to sell an 85% stake in the Elvis Presley Estate (EPE) to CKX, an entertainment company that also owned the “American Idol” television show.

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Singer and actress Lisa Marie Presley arrives for the premiere of “Mad Max: Fury Road” at the Chinese theatre in Hollywood, California, on May 7, 2015.CHRIS DELMAS/AFP VIA GETTY IMAGES

To be sure, Presley didn’t come away empty handed from the deal: She received $50 million plus stock in CKX, along with keeping a 15% interest in EPE, as well as the title to Graceland, Elvis Presley’s estate that is now a tourist attraction, the Associated Press reported at the time. CKX was later sold to Apollo Global Management for $509 million.

Featured image by: Alexander Grey

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