{"id":169599,"date":"2023-01-14T15:29:12","date_gmt":"2023-01-14T15:29:12","guid":{"rendered":"https:\/\/precoinnews.com\/?p=169599"},"modified":"2023-01-14T15:29:12","modified_gmt":"2023-01-14T15:29:12","slug":"lisa-marie-presley-was-spending-92k-a-month-before-her-death","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/world-news\/lisa-marie-presley-was-spending-92k-a-month-before-her-death\/","title":{"rendered":"Lisa Marie Presley was spending $92k a MONTH before her death"},"content":{"rendered":"<h2>Lisa Marie Presley was spending $92k a MONTH before her death and owed the IRS $1million after squandering the $100million fortune she inherited from Elvis<\/h2>\n<ul>\n<li><strong>Lisa Marie Presley, who died at 54 on Thursday, spent more than $92,000\/mo<\/strong><\/li>\n<li><strong>Among her monthly expenses, include $23,500 in rent and $1078 for a Maserati<\/strong><\/li>\n<li><strong>Presley\u00a0was bringing in more than $100,000 a month from her father&#8217;s estate and businesses<\/strong><\/li>\n<li><strong>She brought in roughly $4,400 a month from the Graceland estate and $104,000 a month from Elvis Presley Enterprise<\/strong><\/li>\n<li><strong>She was the only child of Elvis and was left his entire estate in his will when he died in 1977, aged 42\u00a0<\/strong><\/li>\n<\/ul>\n<p>Lisa Marie Presley had been spending more than $92,000 a month before her death and reportedly owed the IRS $1million after squandering her father&#8217;s $100million fortune.\u00a0<\/p>\n<p>Presley, who died at 54 on Thursday\u00a0from cardiac arrest, was bringing in more than $100,000 a month from her father&#8217;s estate and businesses. She brought in roughly $4,400 a month from the Graceland estate and\u00a0$104,000 a month from Elvis Presley Enterprise.\u00a0<\/p>\n<p>According to legal documents, obtained by The Blast\u00a0in November, Elvis&#8217; daughter was spending more than $92,000.<\/p>\n<p>Among her monthly expenses, include $23,500 in rent and $1078 for a Maserati.\u00a0<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/01\/14\/14\/66572667-11635133-image-a-10_1673706263532.jpg\" height=\"951\" width=\"634\"><\/p>\n<p>Lisa Marie Presley, who died at 54 on Thursday, spent more than $92,000 a month. Among her monthly expenses, include $23,500 in rent and $1078 for a Maserati<\/p>\n<p>The document also states that Presley has $95,266 in cash assets,\u00a0$714,775 in\u00a0stocks and bonds, and that she owes $1million to the IRS. With her total worth minus her debts, she was estimated to be worth $4million.\u00a0<\/p>\n<p>The information was revealed during her and her ex-husband Michael Lockwood&#8217;s divorce proceedings.\u00a0\u00a0\u00a0<\/p>\n<p>Lockwood, father of her twin daughters Harper Vivienne and Finley, was seeking $40,000 a month in child support and insisted she had more money than she claimed in court documents.<\/p>\n<p>Presley, in turn, said she was at one point $16million in debt, following disastrous business deals made by her business manager Barry Siegel.<\/p>\n<p>She sued him in 2018, accusing him of mismanaging her inheritance.\u00a0Siegel and his company, Providence Financial Management, countersued, alleging Presley&#8217;s &#8216;out-of-control spending&#8217; led to her financial predicament.<\/p>\n<p>According to the documents, Presley at the time owed more than $10million in taxes from 2012 to 2017 and had defaulted on her debt of more than $6million from her United Kingdom home.\u00a0<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/01\/14\/14\/66572705-11635133-image-a-11_1673706326187.jpg\" height=\"966\" width=\"634\"><\/p>\n<p>Presley was bringing in more than $100,000 a month from her father&#8217;s estate and businesses<\/p>\n<p>She also owed $263,050 in professional frees, $47,844 in credit card debt and an estimate of $250,000 in miscellaneous unpaid bills.<\/p>\n<p>Presley revealed her financial struggles in response to a request from Lockwood that she help pay part of his $450,000 in attorney fees.<\/p>\n<p>Presley was married to actor Danny Keough, Michael Jackson, and Nicholas Cage before Lockwood, but is not believed to have gained financially from her marriages to the King of Pop and Oscar-winning actor.<\/p>\n<p>The only child of Elvis, she was left his entire estate in his will when he died in 1977, aged 42.\u00a0<\/p>\n<p>She took control of the trust in 1993, aged 25.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/01\/14\/14\/66572817-11635133-image-a-12_1673706366105.jpg\" height=\"422\" width=\"634\"><\/p>\n<p>She brought in roughly $4,400 a month from the Graceland estate (pictured) and $104,000 a month from Elvis Presley Enterprise<\/p>\n<p>At the time of his death Elvis was worth only $5million, but Priscilla cannily turned Graceland into a tourist attraction and set up Elvis Presley Enterprises, capitalizing on his image and massive fandom.<\/p>\n<p>By the time Lisa Marie took the reins, the fund was worth a healthy $100million.<\/p>\n<p>She appointed Barry Siegel in 2003 to manage the money &#8211; the same year she launched an ill-fated musical career of her own.<\/p>\n<p>Siegel, senior managing director of Provident Financial Management and a prominent entertainment business manager, counted Al Pacino, Elijah Wood, Pulitzer Prize-winning playwright David Mamet, and Frankie Valli and the Four Seasons as his clients.\u00a0<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/01\/14\/14\/66572695-11635133-image-a-15_1673706420896.jpg\" height=\"1031\" width=\"634\"><\/p>\n<p>Presley attended the Golden Globes prior to her death and snapped a photo with Austin Butler, who played her father on-screen\u00a0<\/p>\n<p>But in 2005\u00a0Siegel sold off 85 percent of her share in Elvis Presley Enterprises, which saw her lose control of her father&#8217;s name and image rights.<\/p>\n<p>Siegel said the deal &#8216;cleared up over $20million in debts that Lisa had incurred and netted her over $40million cash and a multi-million dollar income stream.&#8217;<\/p>\n<p>Presley said it lost her millions thanks to a subsequent investment in Core Entertainment, the company behind American Idol that went bankrupt in 2016.<\/p>\n<p>He then allegedly began liquidating Presley&#8217;s assets in order to supplement her trust income.\u00a0<\/p>\n<p>She also claimed his business decisions left her with a $500,000 credit card debt.<\/p>\n<p>Source: <a href=\"https:\/\/www.dailymail.co.uk\/news\/article-11635133\/Lisa-Marie-Presley-spending-92k-MONTH-death-owed-IRS-1million.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lisa Marie Presley was spending $92k a<\/p>\n","protected":false},"author":3,"featured_media":169598,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23056],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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