Elvis’ only child, who died on Thursday (12.01.23) aged 54 from a double heart attack, also owed the taxman $1 million. Legal documents obtained by The Blast in November, which have resurfaced since her passing, showed her $92,000-plus monthly spend.
They also showed her monthly expenses included $23,500 in rent and $1,078 for Maserati payments. Papers also showed Lisa Marie had $95,266 in cash assets, $714,775 in stocks and bonds, and had a $1 million debt to the IRS. It was reported her total worth without debts left her with $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 $100,000 a month from her dad’s estate and businesses, with around $4,400 a month coming from his Graceland estate and $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 $40,000 a month in child maintenance for their 14-year-old twin daughters Harper Vivienne and Finley, 14.
Mail Online reported on Saturday (14.01.23) Lisa Marie was at one point $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 Barry 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 $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 Barry sold off 85 per cent 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 $20 million in debts he said Lisa Marie had built up, and “netted her over $40 million cash and a multi-million dollar income stream”.