What is Lisa Marie Presley’s net worth in 2023?

Lisa Marie Presley's net worth was estimated to be negative $10 million at the time of her death on January 12, 2023.

Lisa Marie Presley was an American singer and songwriter, born on February 1, 1968, and sadly passed away on January 12, 2023. She held the unique distinction of being the only child of the renowned singer and actor Elvis Presley and actress Priscilla Presley. Additionally, she became the sole heir to her father's estate following the demise of her grandfather and great-grandmother.

Her musical career included three studio albums, “To Whom It May Concern” (2003), “Now What” (2005), and “Storm & Grace” (2012). “To Whom It May Concern” received gold certification from the Recording Industry Association of America. Presley also released non-album singles that included duets with her father, using tracks that he had previously recorded before his passing.

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Net Worth as of 2023

Lisa Marie Presley's net worth was estimated to be negative $10 million at the time of her death on January 12, 2023. In 2005, Lisa Marie sold to CKX, the organization that owned American Idol, an 85% stake in Elvis Presley Enterprises, but the business venture failed. According to Rolling Stone, in 2011, CKX sold to a private equity firm and put the licensing rights to Elvis' estate and likeness on the market. Authentic Brands Group then bought them for $145 million.

Following the disastrous agreement, Lisa Marie filed a lawsuit against her former business manager, whom she charged with mishandling and being careless with her $100 million fortune. Lisa Marie's ex-manager countersued her for $800,000 in unpaid fees and claimed that her extravagant lifestyle was the main cause of her financial ruin.

Sources Of Income

Music Career

She put out three studio albums, and her music career added to her earnings via album sales, live shows, and royalties. Presley made her debut in the music industry with her first album, “To Whom It May Concern,” released in 2003. Following the success of her debut, she released “Now What” in 2005, which also achieved chart placements. She released her third album, “Storm & Grace”, in 2012.

She collaborated with prominent artists, including Kylie Minogue, Michael Bublé and Coldplay, beyond her solo career. Not only that, but she also appeared in music videos for songs by artists like Michael Jackson and others. Her non-album singles and duets with her father provided additional income through music sales and royalty payments.

Inheritance

As the sole inheritor of her father's estate, Lisa Marie received a significant portion of his wealth, which included income from his music, Graceland, and other business ventures associated with the Elvis Presley brand. When Lisa was just 9 years old, her father, Elvis, passed away. He was known for his extravagant spending during his lifetime, and his manager, Colonel Tom Parker, took a substantial portion of his earnings.

When Elvis died, his money was worth $5 million. Today, it's about $14 million after adjusting for inflation. But after paying taxes, fees, and debts, the estate was only worth $1 million, which was given to Lisa Marie. Following Elvis' death, Lisa's mother, Priscilla, was appointed as the sole executor of the estate.

Priscilla made a bold move by transforming Graceland, Elvis's mansion, into a museum. Within four days of its creation, she was able to clear all outstanding debts and expenses. The estate of her father, passed down to Lisa Marie at the age of 25, had grown to a substantial $100 million, which is equivalent to $220 million in current dollars.

Publishing Rights:

She held the publishing rights to some of Elvis Presley's songs, which generated income through licensing and royalties. How much she could have earned from this source is currently unknown.

Acting and Appearances:

Although her primary focus was music, Lisa Marie also made appearances in films and television shows, which could have contributed to her income. How much she could have earned from this source is currently unknown.

Lost Fortune

Lisa Marie set up a revocable living trust and put Barry Seigel in charge of managing the funds. In February 2005, Seigel reached a significant deal to sell 85% of Elvis Presley Enterprises (EPE), which was responsible for managing Elvis image rights and royalties, for a substantial $100 million. But her net gain was about $40 million after accounting for taxes and fees. Some compensation was provided for the future holding company of American Idol, which included $25 million in stock.

Her finances dwindled significantly between 2005 and 2015, partly due to her own extravagant spending habits. The financial difficulties she faced were the result of poor management by Seigel and other financial managers, who were earning substantial annual salaries of $700,000. When all was said and done, Lisa Marie had just $14,000 in the trust she had set up and over $500,000 in credit card debt.

Graceland

Presley’s financial situation was complicated. Even though the COVID-19 pandemic was tough, she continued to make money from Graceland tourism and also got a monthly salary of $4,361. She earned approximately $1.3 million in November 2022, consisting of $104,000 a month from Elvis Presley Enterprises and her earnings as a Graceland employee.

With its diverse attractions including a hotel, museum and entertainment complex, Graceland generated substantial revenue for the city of Memphis, estimated at $150 million annually. At the time of her passing, Lisa Marie still retained a 15% stake in Elvis Presley Enterprises and was the owner of Graceland.

Expenses

Lisa Marie bought two properties in Hidden Hills, California in December 1993. One parcel cost her $2.6 million, and the other cost her $625,000. The 3+ acre property had an 8,000 square foot mansion. She listed the property for just under $7 million in July 2010 when she decided to part with it. In November 2010, Lisa accepted an offer of $5 million from a doctor. He proceeded to tear down her original home and build a 15,000 square foot French-inspired mansion.

In August 2014, this newly built mansion changed hands again, with Kim Kardashian and Kanye West becoming the buyers. Over the years, extensive renovations were carried out, and Kim continues to reside there to this day. In March 2020, Lisa Marie again entered the real estate market, purchasing a home in nearby Calabasas, California, for $1.8 million. But two years later, in March 2022, she decided to sell this property for $2 million.

Lisa Presley’s Death

Elvis Presley's only child, Lisa Marie Presley, passed away at the age of 54 on 12 January 2023. Priscilla Presley told The Associated Press in a statement, “It is with a heavy heart that I must share the devastating news that my beautiful daughter Lisa Marie has left us. She was the most passionate, strong, and loving woman I have ever known.”

The Presley family and Priscilla expressed shock at “the tragic death of their beloved Lisa Marie” in a statement sent to USA TODAY. “They are profoundly grateful for the support, love, and prayers of everyone and ask for privacy during this very difficult time.”

Presley had a joyous start to the week, first celebrating what would have been her father's 88th birthday on January 8 with admirers at Graceland, Elvis Presley's Memphis mansion. Then sobbing with her mother as Austin Butler won a Golden Globe for playing the King of Rock 'n' Roll in Baz Luhrmann's biopic “Elvis.”

But on January 12, 2023, she reportedly had an apparent cardiac arrest at her home in the Los Angeles suburb of Calabasas and was rushed to a nearby hospital, according to TMZ, which broke the story. Presley was well-known from the moment she was born and was a successful singer in her own right, releasing three albums.