The departure of Lisa Marie Presley at the age of 54 left financial problems in the spotlight. The son of the legend of Elvis Presley is said to have a lot of debt due to mistakes in managing the inheritance left by his father. Recently it was also revealed that his fantastic spending per month added to the financial burden.
Reported by the NY Post, the late Lisa Marie Presley left a tax debt of $ 1 million or around Rp. 15 billion. Not only that, Nicolas Cage’s ex-wife is also said to have wasted an inheritance of $100 million (Rp. 1.5 trillion) due to wrong financial decisions. Not to mention the trial with ex-husband, Michael Lockwood, who demanded $ 40,000 in child support.
This was revealed in the documents obtained by The Blast. It is said that Lisa Marie Presley has a wealth of businesses and assets that are quite large, including stocks worth $ 714,775 (Rp. 10 billion), bonds, and others. But he also owed $ 1 million (Rp. 15 billion) which put Priscilla Presley’s child in a ‘red’ situation.
Lisa Marie is said to receive $104,000 in monthly income from Elvis Presley Enterprises in which she has a 15% stake. He is also said to have earned a salary of $4,361 (Rp. 65 million) from his job as a clerk at Graceland, the former residence of his parents which became a tourist spot. But with debt and meager income, he made fantastic spending with a total of $ 92,000 (Rp 1.3 billion), including for rent and luxury Maserati cars.
The wealth that Elvis Presley left himself was not much at first but Priscilla made their home a tourist attraction and built Elvis Presley Enterprises which commercialized her husband’s image and fans. When Lisa was 25, her inheritance had grown to Rp. 1.5 trillion. At that time, he appointed Barry to manage finances.
Unfortunately, despite being left with many assets, Lisa’s manager made a mistake in managing finances. In 2005, Barry made the decision to sell Lisa Marie’s 85% stake in Elvis Presley Enterprises which turned out to be a loss. Apart from that, Lisa also lost a lot of money because of her investment in Core Entertainment, the company behind American Idol which went bankrupt in 2016.
After that, Barry began selling Elvis Presley’s assets. It was also stated that the manager’s decision left him $500,000 in credit card debt and many other losses.
(ami/ami)
