Of the 100 million dollars that she received from her father's inheritance, she has 14,000 and substantial debts left.
Fortunes last as long as their owners' ability to squander them. In the case of Lisa Marie Presley, who recently turned 50, hers has lasted exactly two and a half decades: the 100 million dollars that when she turned 25 she received from the inheritance of her father, Elvis Presley (1935-1977). ), $14,000 survive. To this we must add an accumulated debt of 16.7 million dollars, another of 10 million with the Treasury and another 6 million from the expenses of her house in England. This sum does not include the enormous Elvis memorabilia, which his only daughter has been underselling.
Bad decisions
Lisa Marie has a long list of bad decisions: her four marriages (Danny Keough, Michael Jackson, Nicolas Cage and Michael Lockwood), her foray into the Church of Scientology (it is said that she is asking her followers for help), her addictions and his bad head for business. From the mud of her two-year marriage to Michael Jackson (1994-1996), Lisa Marie's image was greatly affected by public opinion. "Really, I want to help you," she argued when she married the King of Pop.
With Nicolas Cage (2000-2004) she didn't do much better: obsessed with Elvis, eccentric and controversial, snubbed by the Treasury, Cage today has no choice but to work in films that premiere directly on television. His Oscar for "Leaving Las Vegas" (1995) was of little use to him.
The ruin of Lisa Marie Presley has unleashed a judicial war with her former manager, Barry Siegel: they have sued each other. This week, the King of Rock's daughter issued a statement through lawyer Amjad M. Khan, where she flatly denies knowing how her money was spent. Siegel has defended himself by claiming that on at least two occasions he lost a large amount of money due to her reckless spending. "Mr. Siegel was not only Ms. Presley's manager, but also the administrator of Elvis Presley's estate," Khan argues. It was his legal obligation to ensure that the estate was properly managed. That's what they paid him and trusted him for. The reality is that he did not fulfill his obligations. Lisa Marie Presley's lawsuit against Siegel is based on her alleged "reckless and negligent management" as well as his accounting chicanery. "He (Siegel) deceived Ms. Presley into believing that he was competently managing her estate when in reality she was only serving her own interests," Lisa Marie's attorney continues. Apparently, Elvis' daughter has paid her former manager more than $7 million in fees over the last decade and "now she has the shame to sue her for $800,000 more."
For her part, Siegel claims that while she managed Presley's money he always kept her informed of her "uncontrolled spending." Leon Gladstone, her legal representative, has stated that "Lisa Marie went through a difficult time, but she cannot blame others for her actions." A California Superior Court tribunal will resolve the dispute in the coming months.
The last divorce
The legal battle against her former administrator is not the only one waged by Lisa Marie, who has received one last financial blow in relation to her fourth divorce: a Los Angeles judge has ordered her to pay $100,000 to her ex, Michael Lockwood, to face their attorneys' fees. Lockwood demanded $450,000. And it is precisely during this last process of her divorce that Lisa Marie's problems with drugs and alcohol are coming to light. In the lawsuit papers, obtained and published by the Radar Online website, Elvis' daughter admits to "terrible abuse of heroin," as well as repeated admissions to rehabilitation centers. «I had to go to rehab several times. I was a disaster. "I couldn't stop," the star admits in the documentation. She also confesses to her habitual use of "painkillers and opiates" during the last three years of her marriage. “Last year (2016) I was abusing cocaine terribly,” she explains. Initially, Presley has admitted to having visited detoxification centers in Mexico "on three or four occasions," although she has later corrected herself by pointing out that perhaps she "was five times" during the last years of her marital life with Lockwood. .
The announcement of Lisa Marie's ruin coincides with the premiere on the HBO network of a documentary about the King of Rock produced by Priscilla Presley, Lisa Marie's mother, a work that will be shown at the SXSW Festival in Austin in the middle of this month.
