Lisa Marie Presley, the daughter of Elvis Presley and Priscilla Presley, died on January 12 at 54 after suffering a heart attack. Her housekeeper discovered her unresponsive just hours before she died, according to TMZ. When paramedics came, she was in “full arrest” and needed to be taken to the hospital.
That evening, it was announced that the musician had died after seeing her mother, Priscilla, rush to her daughter’s side. Priscilla disclosed Lisa Marie’s death to People in a statement, calling her “the most passionate, strong, and loving woman I have ever known.”
People are still in shock and mourning because Lisa Marie attended the 2023 Golden Globes on January 10, and the cause of her heart arrest is yet unknown. She supported Baz Luhrmann’s “Elvis” film about her father and openly sobbed when Austin Butler won “Best Actor” for his portrayal of the King.
Lisa Marie is the sole heir to her father’s trust; her other daughters are Riley Keough and twins Harper Vivienne and Finley Lockwood. You might be startled to learn that the late singer-songwriter was deeply in debt at the time of her death.
Lisa Marie Presley’s substantial inheritance was squandered over time due to disastrous business mistakes. According to AP News, when her father died in 1977, she became the only heir to the Elvis Presley Trust. Elvis’ estimated net worth at the time of his death was $5 million. Still, his wife, Priscilla Presley, doubled that sum by establishing Elvis Presley Enterprises and turned his mansion, Graceland, into a major tourist destination, according to the Daily Mail. When Lisa Marie, 25, took over management of the Trust, it was valued at $100 million.
However, when he sold 85% of Lisa Marie’s ownership position in Elvis Presley Enterprises in 2005, business manager Barry Siegel gave Elvis control over her name and image rights.
The action garnered Lisa $40 million in cash and “paid out approximately $20 million in debts that Lisa had incurred,” according to Siegel. But the musician argued that it ultimately cost her millions because of a poorly timed investment in Core Entertainment, a production business that failed in 2016. Lisa Marie filed a lawsuit against Siegel in 2018, alleging that he mismanaged her wealth.
Michael Lockwood, Lisa Marie’s fourth husband, was reported $16 million in debt when they split in 2016, according to the divorce papers, though Lockwood disputed this assertion. For their twin children, Harper Vivienne and Finley, Lockwood was still requesting $40,000 a month in child support at the time of her demise.