Lisa Marie Debt Controversy

Did Lisa Marie Presley lose all her money? She has been a part of several controversies throughout her career. She lost the $100 million fortune that her Father, Elvis, left her.

Lisa Marie is an Actress and singer from the United States.

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She started her singing career in the 1990s after inheriting her Father’s passion for music. Her discography includes the albums To Whom It May Concern (2003) and Storm & Grace (2012).

Marie has dabbled in acting in addition to her singing career, making appearances on television programs like “Third Watch” and “Good Morning America.”

She has also participated in several philanthropic organizations, such as the Lisa Marie Presley Care Foundation and the Elvis Presley Charitable Foundation.

Lisa has been married four times and has four children. She has two children from her first marriage to Danny Keough and two more from her third marriage to musician Michael Lockwood. 

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Lisa Marie Debt Controversy

Lisa Marie Presley has been a part of several controversies throughout her success.

As per People, Presley divorced Michael Lockwood, her fourth husband, in 2013 and later declared bankruptcy, alleging she owed $16 million in debt.

Lisa Marie Half Brother
Lisa Marie Presley has been a part of several controversies throughout her success (Source: CNN)

She began an unsuccessful musical career in 2003, the same year he appointed Barry Siegel to oversee the funds.

On the other hand, Siegel lost control of the rights to her Father’s name and image when she sold off 85% of her ownership in Elvis Presley Enterprises in 2005.

According to Siegel, the agreement “cleared off more than $20 million in obligations Lisa had accrued and gained her more than $40 million in cash and a multi-million dollar income stream.”

Did Lisa Marie Lose All Her Money?

Lisa, a composer, sued Barry and his Company, Provident Financial Management, for allegedly squandering her Father’s inheritance and leaving her with only $14,000 in 2018 after making several poor investments.

By forcing her to invest in American Idol’s holding Company, which filed for bankruptcy, Lisa alleges Barry was “reckless and careless” with her money in court documents acquired by the DailyMail.

Lisa Marie Debt Controversy
Lisa, a composer, sued Barry and his Company, Provident Financial Management, for allegedly squandering (Source: Fox8)

Additionally, she said that Barry gave her more than just poor advice. She claims that while she was already losing money at an alarming rate, he was using her money to pay himself an “average yearly salary of $701,000 per year.” 

After then, Lisa sued Barry after she went bankrupt, and Barry promptly countersued her for a whopping $800,000 in damages.

According to Yahoo, Lisa has earned a sizable sum of money via her three albums, Now What, Storm & Grace, & To Whom It May Concern, aside from the estate of her Father.

What Was Lisa’s Net Worth Before Her *****?

According to celebritynetworth, Lisa has an estimated networth of $ million. 

She has a lot to do with the $100 million inheritance her Father left for her to receive after his passing.

In addition, Lisa claims that she experienced financial difficulties due to giving her money to Barry Siegel, her former business manager.

Similarly, her Father dedicated one of his jets, a converted Convair 880 (original seating capacity: 100), to her in November 1975. 

He spent almost $1 million restoring it to use it as his primary vehicle while on tour. 

Likewise, The Lisa Marie and Hound Dog II, another of his aircraft, are on display at Graceland. Both planes were up for sale in January 2015. However, they are still on display at Graceland today.

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