Posted on 01/13/2023 3:38:21 AM PST by dennisw
BUT they won't see a cent of $100million Elvis left his daughter because she lost it all
Lisa Marie Presley owned 100 percent of Graceland, the Memphis estate her father Elvis bought in 1957 for $100,000
The 1937 house was opened to tourists in 1982, but has remained a family home, with the Presleys gathering there for celebrations such as Thanksgiving The house will likely pass to her three surviving children - daughters Riley, a 33-year-old actress, and twins Harper Vivienne and Finley, 14 Her only son, Benjamin, took his own life aged 27 in July 2020 and Lisa Marie was left devastated by his death
Lisa Marie Presley's death at the age of 54 leaves the question of who will inherit Graceland, and what remains of the infamous $100 million inheritance which she said had been entirely spent, leaving her in $16 million debt by 2016.
Lisa Marie's finances remain contentious: her fourth husband, Michael Lockwood, lost his 2016 bid in their divorce to undo their prenup, but he reopened the case in 2021, demanding she pay the $4,600-a-month child support that a court ordered.
The case is yet to be settled, and the state of her finances is unclear.
She inherited $100 million in 1993, on her 25th birthday, but said that it had almost entirely disappeared thanks to mismanagement and bad investments.
Graceland, however, remained.
Lisa Marie, who grew up in the house, is likely to have passed it down to her three surviving children - actress Riley Keough, 33; and twin 14-year-old girls Harper Vivienne and Finley.
Her son, Benjamin Keough, took his own life in July 2020 following a lengthy battle with drug addiction and depression.
(Excerpt) Read more at dailymail.co.uk ...
She blew the 100 million she got from Elvis. Wow! Scientology must have gotten a good chunk.
“Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moths and vermin do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also. Matthew 6:19-21
She didn’t get it from Elvis. She got it from her mother’s business management of Elvis image and rights
It is pretty clear Lisa Marie was not capable...and the trust should have protected her from herself..but it didn’t.
This is truly one of those cases where you can say She is finally at peace after a lifetime of pain.
How in God’s name to you lose $100 million?
She is finally at peace after a lifetime of pain.
Is she?
Plenty of examples abound. Lottery winners, for one.
Many sports figures blow through all their money, even after earning eight figures during their careers. Main reasons are multiple families, moochers often referred to as a “posse”, addictions, crooked investment advisors, and large purchase of items like boats and Italian cars.
Easy. Start with two million.
It is hard to build assets, and easy to lose them.
Most of the great family fortunes are dissipated in a couple of generations, and new ones arise.
She just died and the main concern is who gets Graceland? Seems rather insensitive, even to me.
Given how long he was a star, compound interest, amount of songs he sang, his likeness etc., there should have been at least a couple of hundred million, if not a billion. The most comparable musical superstar wrote his own songs (Wacko Jacko) so perhaps not a billion. A shame the money was lost and/or squandered.
However,I visited Graceland once...about 10 years ago. Looking in the living room (I think it was the living room) it was obvious that a lot of money was spent in that room but it was just as obvious that it was the way white trash who had come upon money would do it. Just think "You Might Be A Redneck".
That’s nothing compared to what Washington, DC has squandered away.
I'm guessing it was probably purchased and now controlled by some investment firm outside of the Presley family.
If the article said so, I didn't read it. Daily Fail's garbage website is so cluttered and buggy, it's slows my poor laptop to a crawl.
Could have thrown a couple of mil into a lazy man's stock portfolio and just left it alone and she would have been sitting pretty now.
I was @ Graceland but didn’t go in. It was near a place I was heading. The entire neighborhood (circa 1980) looked like a ghetto. Not impressed.
Yes, she sold all her interests in that.
* $16 million debt by 2016.*
I read somewhere that $10 million of the 16 million was owed to the IRS.
It's my understanding that Memphis is pretty much a ****hole today so I can believe that that neighborhood was as well.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.