Despite having no affiliation with it, Priscilla Presley allegedly earned $1.3 million per year from Elvis Presley Enterprises.
According to a lawsuit, Priscilla Presley earned $US900,000 every year from Elvis Presley Enterprises despite owning no stock in the company.
When Priscilla’s daughter, Lisa Marie Presley, sued her former business manager, Barry Siegel, in 2018 for “negligently” managing her money, she said Siegel “allowed (and lobbied)” her mother’s nearly seven-figure income.
Lisa’s lawyers said Priscilla was paid “even though Lisa’s mother has no ownership in EPE (and was not conducting any sort of executive-level work to justify the salary).”
“Siegel neglected to disclose these facts to Lisa, and he did not negotiate the equivalent wage benefit for Lisa,” according to the complaint.
Siegel challenged Lisa’s accusations in the lawsuit against him, and it dragged on for another two years until being resolved out of court.
But, the damning report could still work in Priscilla’s favor.
Ultimately, she is identified as a “co-trustee” of Lisa Marie’s fund. At the same time, the Lights Out singer’s children — Riley and Benjamin Keough — are labeled as “adult children of the beneficiary,” who will benefit from her estate if she dies.
Priscilla has been back in the spotlight this week as she filed in court to invalidate a 2016 amendment to Lisa Marie’s trust which struck her and Siegel’s names as Co-Trustees, saying it was fraudulent owing to a suspicious signature and a misspelling of her name.
It’s unclear why Priscilla would need to manage any portion of Lisa Marie’s assets since Riley is 33 and capable of making financial decisions. Ben committed suicide in 2020.
A source close to Lisa Marie, who died on January 12 at age 54, previously said that Priscilla’s fight against the trust is nothing more than a “money grabs,” while Priscilla insists she is merely attempting to safeguard her family.
A representative for Priscilla did not immediately respond to Page Six’s request for comment.
Lisa’s 14-year-old twin daughters Finley and Harper are also believed to be beneficiaries of the estate, which still owns Graceland, Elvis’ Memphis home.
“Lisa’s 55th birthday would have been today. “I aim to safeguard my three grandchildren and keep our family together,” the late King of Rock and Roll’s ex-wife told us in a statement on Wednesday.
“I’ve protected, loved, and led Lisa since I first held her in my arms… Our hearts are torn, and I’m learning to live without my child.”