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 ...
Part of the problem is that Elvis isn’t the name he used to be.
His fans are ageing and dieing.
My boys, in their early 30’s, barely know who Elvis was. And only because their mom loved her some Elvis.
Face it kid, the world is forgetting about your dad.
He’s ancient history.
You nailed it. Even the dopiest dingbat could have put that much money in a savings account at 0.1 percent interest and still never have had a financial worry the rest of her life.
She could have stashed a mere $1 million away for a rainy day and still never have to worry about money. What was she thinking?
She should have held on to this
https://heavy.com/news/2012/08/elvis-presley-underwear-auction-stain/
These guys believe their money will come rolling in forever. And when funds get low, it’s someone else’s fault.
sad
How can you post that without telling the end of the story?
She should be able to be able to collect from Michal Jackson’s Social Security benefits since she was his first wife.
What a waste.
She’s mentioned in this ( starts at the 11:00 min mark )
https://www.youtube.com/watch?v=bO2gGv-VuHk
She needs to learn the word “budget.” These excessively rich heirs have no idea that money is not limitless and it can run out, I’ve little sympathy for their excessive life style that they seem to continue even when in debt and supposedly broke.
Didn’t she become a Scientologist? Maybe she gave it to them to move up the chain.
Well, she beat the average by two generations, the old saying goes something like: shirt sleeves to shirt sleeves in three generations.
Wash your mouth out with soap!
She did but she left it.
Elvis once looked into the church of scientology as he liked to learn about different religions. But he saw them for what they were and walked away from them, saying “all they were interested in was my damn money.”
A+
If EP Enterprise has been paying 15% all these years to her, she has blown through a lot more than $100 million. She might have taken note earlier that she spent too much.
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