Posted on 02/23/2018 10:33:10 PM PST by ameribbean expat
Elvis’s daughter, Lisa Marie Presley, inherited his $100m (£71.5m) estate in 1993 at the age of 25. Another 25 years later, she says in a lawsuit obtained by US media that she is down to her last $14,000.
Presley blames her former manager Barry Siegel for her precarious finances, and filed a suit last week against him accusing him of “reckless and negligent mismanagement” of her inherited estate.
In the suit, first reported by the US website the Blast, she claims that her cash reserves were whittled down because of Seigel’s poor investment decisions. He has countered that Presley is to blame, alleging in a lawsuit of his own that she squandered much of her fortune. He is demanding $800,000 in damages for non-payment.
Elvis Presley’s fortune had dwindled to a few million dollars at the time of his death in 1977, but the power of the Presley brand – including the tourist attraction Graceland – meant that assets were built back up into the $100m trust that Lisa Marie inherited on her 25th birthday.
(Excerpt) Read more at theguardian.com ...
And I know from personal experience that "the tour" ain't cheap.
Somebody's making some pretty good $$.
I believe it is Ayn Rand.
Francisco d’Aconia - one of my favorite fictional characters.
“Perhaps true in some respects, but I did see it reported recently that Graceland is second only to the White House when it comes to residences that are visited annually.
And I know from personal experience that “the tour” ain’t cheap.”
I had no idea that was true.
I can’t understand paying good money to tour some dead persons home.
I’ve never bought into the Cult of Personality thing.
Mount Vernon or Monticello, yes these were owned by people who helped forge the country.
A dead singers home?
No, better things to do with my time and money.
“Somebody’s making some pretty good $$.”
Evidently Lisa Marie wants a bigger cut.
By the time money filters through agents, money managers and such, there ain’t a lot left.
Lisa's mom, Priscilla, became a Scientologist when Lisa was quite young. Lisa was more or less assimilated into the cult, due to that influence.
I know a bit about this because we ran in the same musician's circle in the mid 80s.
I knew her to speak to, but she was a very withdrawn sort of person. Her boyfriend, Danny Keough, played bass in my best friend's band.
I remember when he and Lisa were married. Most of us in the circle predicted they wouldn't make it, as Danny was pretty much a ne'er do well, and a general f***up.
They moved into a high worth, gated community, overlooking the 405, and began their family. They sort of dropped off the radar after that., but made appearances from time to time. Those weren't good times for them.
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