Lisa Marie Presley was an American singer and songwriter born on February 1, 1968, and died on January 12, 2023. She was born to Elvis Presley and Priscilla Presley, and after the de@ths of her grandfather and great-grandmother, she was the sole heir to her father’s fortune.
Three studio albums made up her discography: To Whom It May Concern (2003), Now What (2005), and Storm & Grace (2012). The RIAA certified To Whom It May Concern as gold. Presley also issued singles outside of albums, some of which featured duets with her father utilizing recordings made by him before his de@th.
What Was Lisa Marie Presley Net Worth Before Her De@th?
Lisa Marie Presley was an American actress and singer who, at the time of her de@th, was worth -$10 million. Lisa Marie Presley tragically passed away on January 12, 2023, due to cardiac arrest. Age-wise, she was 54.
Elvis Presley’s only child was a daughter named Lisa Marie. She followed in her father’s footsteps as a talented musician and singer-songwriter. In addition to her marriages to Michael Jackson and Nicolas Cage, she is remembered as a former Scientology member.
How Did Lisa Marie Presley Lose Her Fortune?
The composer launched a complaint against Barry and his company, Provident Financial Management, in 2018, accusing them of mismanaging her father’s riches and leaving her with only $14,000. Lisa alleges in court papers acquired by the Daily Mail that Barry was “reckless and negligent” with her money by forcing her to invest in American Idol’s holding company, which ultimately failed.
The musician claims that Barry provided her with more than simply poor counsel. She claims he was paying himself an “average annual salary of $701,000 per year” from her business’s funds while she was losing money at an alarming rate. Lisa launched a lawsuit against Barry after she ran out of money, and he countersued her for a whopping $800,000.
We’ve previously written a few pieces regarding the wealth of famous celebrities. Visit the links provided below to learn more:
- Luke Bryan Net Worth 2023: How Did He Start His Career as a Singer?
- Jamie Lissow Net Worth 2023: How Much Money Does American Comedian Have?
Like Lisa, Barry assumed that whoever was responsible for Elvis’s riches disappearing was to blame. He claims that the singer “squandered” her inheritance from her late father’s estate by indulging in “uncontrollable spending habits” that led to her bankruptcy.
But Lisa claims Barry never gave her sound financial advice. A comfortable annual budget for Lisa would have been between $1.5 and $2 million after taxes “had Barry disclosed the trust’s true financial condition to Lisa and restricted spending to the trust’s ‘income’ rather than its principal assets,” according to the papers.
“[But] Barry consistently assured Lisa that her financial situation was in “excellent shape.” Lisa’s three albums, Now What, Storm & Grace, and To Whom It May Concern, peaked in the top five on the Billboard 200 albums chart, adding to the fortune she inherited from her father’s estate.
As manager of Graceland, the “world’s largest and most comprehensive Elvis museum in the world,” the “Over Me” singer has also amassed a substantial fortune. In addition to being included on the National Register of Historic Places, Graceland was designated a National Historic Landmark in 2006. Lisa is doing the right thing by keeping Elvis’s legacy alive, even though she lost her father’s riches.