Lisa Marie Presley Was Spending S$121K A Month Before Her Death And Owed S$1.3 Million In Taxes
Lisa Marie Presley, the only daughter of Elvis Presley, died on Thursday (Jan 12) from a cardiac arrest.
Lisa Marie Presley was spending more than US$92,000 (S$121,000) a month before her death and may have been worth only US$4 million when she passed away.
Elvis Presley’s only child, who died on Thursday (Jan 12) aged 54 from a double heart attack, also owed the taxman US$1 million.
Legal documents obtained by The Blast in November, which have resurfaced since her passing, showed her US$92,000-plus monthly spend.
They also showed her monthly expenses included US$23,500 in rent and US$1,078 for Maserati payments.
Papers also showed Lisa Marie had US$95,266 in cash assets, US$714,775 in stocks and bonds, and a US$1 million debt to the IRS.
It was reported her total worth without debts left her with US$4 million, but her total worth at the time of her death is as yet unknown.
Mum-of-four Lisa Marie had been bringing in more than US$100,000 a month from her dad’s estate and businesses, with around US$4,400 a month coming from his Graceland estate and US$104,000 a month from the Elvis Presley Enterprise firm.
The figures were first revealed during her long battle to divorce ex-husband Michael Lockwood, 61, who ended up seeking US$40,000 a month in child maintenance for their 14-year-old twin daughters Harper Vivienne and Finley, 14.
Mail Online reported on Saturday that Lisa Marie was at one point US$16 million in debt after deals made by her business manager Barry Siegel.
She sued him in 2018, accusing him of mismanaging her inheritance, but Siegel and his company countersued, accusing her of “out-of-control spending” that led to money woes.
Lisa Marie was left Elvis’ entire estate in his will when he died in 1977 aged 42, and she took control of the trust aged 25 in 1993.
Elvis was worth only around US$5 million when he died, but Lisa Marie brought in millions by turning Graceland into a tourist attraction and setting up Elvis Presley Enterprises to cash in on his image and legacy.
But in 2005 Siegel sold off 85 percent of her share in the company, leaving her with no control over her dad’s name and image rights.
He claimed it wiped out more than US$20 million in debts he said Lisa Marie had built up, and “netted her over US$40 million cash and a multi-million dollar income stream”.
Lisa Marie will be laid to rest at Graceland, according to rep on Friday. Elvis and other members of his family are buried at Graceland's Meditation Garden. — BANG SHOWBIZ
Photos: TPG News/Click Photos