Lisa Marie Presley Wiki, Biography
Lisa Marie Presley, daughter of Elvis and Priscilla Presley, recently passed away on January 12 at the age of 54. She was admitted to the hospital on January 10 after cardiac arrest. Her family confirmed the news in an official statement shared with People magazine.
According to the Los Angeles County Sheriff’s Department, an emergency call was received from the 5900 block of Normandy Drive in Calabasas. Paramedics arrived at the scene and administered CPR.
TMZ reported that the housekeeper found Presley unconscious in her bedroom. When her ex-husband Danny Keough arrived, she performed CPR on him until paramedics arrived.
Singer-songwriter Tanya Tucker paid tribute to Lisa Marie Presley on social media with a photo of them posing together. Tanya described Lisa as a “beautiful, soft-spoken lady” and said that she named her daughter Presley after Lisa. Claiming that she first met Lisa in Nashville, Tanya continued:
“I wanted to say so much, but not at the right time! The only thought I have right now that is so prominent is…they are together. Her and her dad forever… But still. There is no consolation in losing a life so young… My thoughts are with Priscilla Presley and all the family tonight. The lights must be so dim at Graceland, but never in our hearts!”
Smashing Pumpkins frontman Patrick Corgan also expressed his grief, writing:
“There is anguish and then there is sadness. This would be sadness and on more levels than I can count. Please send your prayers for his family and children at this difficult time. I really can’t find the words to express how sad this is.”
Lisa Marie Presley was in debt despite a successful career
Although Lisa Marie Presley was popular for her singles and albums, CelebrityNetWorth reported her net worth to be around $10 million. There have been a few reasons behind this staggering number.
Elvis Presley died when Lisa was young. He was known to be a connoisseur of luxurious living and invested heavily in the iconic home. The price of Presley’s estate was estimated to be around $5 million, but she lost value over time, dropping to $1 million. Lisa inherited the property and planned a renovation.
She turned the mansion into a museum and became the heiress to the property when she was 25 years old. The price for the property was estimated to be around $100 million. The funds were being managed by her business manager, Barry Siegel, who proposed a deal worth $100 million to sell 85% of Elvis Presley Enterprises.
However, the savings eventually dried up. Lisa spent heavily to support her lifestyle, but she blamed Siegel’s mismanagement for the financial problems. After incurring losses, she was left with $14,000 and credit card debt of about $500,000. She fired Siegel and sued him in 2017 for “reckless and negligent administration” of her estate.
Siegel denied the allegations by stating that Lisa Marie Presley’s excessive spending was the reason she had nothing left. He claimed to have advised her against such actions. Siegel said Presley’s habits outweighed her net worth by $20 million in debt in 2003. Lisa denied the claim, saying she received no such advice.
Court documents related to her divorce from Michael Lockwood revealed that she owed $16 million due to unpaid taxes, lawyer bills and credit cards. Michael also demanded $450,000 from Presley for attorney’s fees. Last year, he claimed that Lisa was the beneficiary of a trust with an estimated value of around $65 million.
Lisa Marie Presley owned two houses in Hidden Hills, Los Angeles in 1993. The prices for her were estimated to be around $2.6 million and $625,000. She sold one of them for $5 million in 2010.