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On August 4, 2023, Riley Keough became the sole trustee of the Lisa Marie Presley fortune after winning a legal dispute against Priscilla Presley, her grandmother. Lisa Marie, the daughter of Elvis, died on January 12 of this year and had left her estate to her daughter Riley in her will. Elvis' ex-wife, Priscilla had challenged the contestant of her late daughter's will in the month of her death.
Riley's petition was officially approved by Judge Lynn Healey Scaduto in Los Angeles Superior Court, this Friday.
According to Celebrity Net Worth, Riley Keough has a net worth of $5 million dollars, which she accumulated through her acting and modeling career.
Riley Keough won an intense legal battle against her grandmother
Riley Keough is the granddaughter of Elvis Presley and the daughter of Lisa Marie Presley. Riley had a brother, Benjamin Keough, who unfortunately died by suicide on July 12, 2020.
She has an accumulated wealth of about $5 million according to Celebrity Net Worth, though it is now estimated to shoot up significantly after inheriting her mother's wealth.
The Emmy-nominated actor became the sole heir to her mother's estate after a legal battle with her grandmother Priscilla Presley. Riley agreed to a settlement with Priscilla, according to the New York Times, for an amount of $1 million.
The Daisy Jones and the Six actress also offered to pay her grandmother's legal fees of around $400,000.
The Presley Estate and Graceland
Elvis Presley left a huge estate to his only daughter, Lisa Marie Presley, after his death in 1977. The property was not worth much at the time of his death, it was about $1 million due to financial crisis.
That changed when Lisa inherited her father's fortune as a 25-year-old woman. According to Celebrity Net Worth, its value shot up to about $100 million.
Her daughter, Riley Keough, now owns the family mansion Graceland, which is open for tours and even one-night staycations in Tennessee. As per Rolling Stone, the estate was worth around $400 to $500 million in 2020.
Lisa sold her stake of 85% shares in Elvis Presley Enterprises in 2006 for a whopping $100 million. Her 100% ownership of Graceland was divided into parts (not equal) for her three daughters after her death, according to PEOPLE.
Graceland in itself grosses about $40 million in profits each year, as reported by Rolling Stone magazine.
Additional details about the case
The Los Angeles Superior Court judge ruled in the actor's favor on Friday. Riley Keough was also granted precedence over her half-sisters Finley and Harper Lockwood's sub-trusts who are both 14 years old, according to People.
Judge Lynn H. Scaduto told the court:
"The settlement is in the best interests of minors Harper Lockwood and Finley Lockwood, and confirm that Michael Lockwood's signature on their behalf, as Guardian Ad Litem, is valid and binding."
The Lockwood sisters were born from Lisa Marie's marriage to Michael Lockwood.
Riley Keough's personal life and acting career
Riley Keough was born on May 29, 1989, to Lisa Marie Presley and Danny Keough. She started her acting career in a feature film called The Runaways.
Her most famous acting jobs include Daisy Jones & The Six which got her an Emmy nomination, and other jobs like Magic Mike, Logan Lucky, and American Honey.
She has been married to her husband Ben-Smith Petersen since 2015 and they have a daughter together. They first met on the sets of Mad Max: Fury Road in 2012 and started dating a year later.
