Lisa Marie Presley Heirs: Who's Getting Graceland?
Lisa Marie Presley is the sole owner of Graceland, the Memphis estate her father Elvis bought in 1957 for $100,000. Photo by Kevin Winter/Getty Images

After Lisa Marie Presley's untimely death, it is unclear who would inherit among her heirs her remaining wealth and Graceland, the estate in Memphis that her father, Elvis Presley, bought in 1957.

According to Daily Mail, the singer-songwriter, who is the only child of Elvis, inherited the mansion after her father died in 1977. Lisa Presley owned 100 percent of the property.

She also inherited $100 million on her 25th birthday in 1993. However, she said it had nearly disappeared due to bad investments and mismanagement, leaving her with a $16 million debt by 2016.

Graceland mansion, where she grew up, remained. The outlet said the property would likely be passed down to Lisa Marie's three surviving children: 33-year-old actress Riley Keough and 14-year-old twin daughters Harper Vivienne Ann and Finley Aaron Love.

Lisa Marie's son, Benjamin Keough, committed suicide in July 2020 after a long battle with drug addiction and depression.

Elvis Presley, a native of Mississippi, purchased the Graceland mansion in Memphis, Tennessee, when he was 22 amid his fame. The young rocker bought the 1939 property for $100,000.

Priscilla Presley, Lisa Marie's mother who divorced Elvis in 1973, turned the property into a tourist attraction after his death and opened it to guests in 1982.

About 600,000 people reportedly visit the property yearly, which makes it second to the White House and the Biltmore Estate for tourist numbers.

But the mansion remains in use as a family home, where the Presley family would gather for dinners and reunions.

The Graceland property boasts an entertainment complex, museum, hotel, and the mansion itself. How much money Lisa Marie's three daughters will inherit reportedly remains unclear.

Lisa Marie Presley Net Worth 2023

According to Parade, Lisa Marie Presley's net worth this year was estimated to be a shocking $-16 million.

Lisa Marie reportedly sold in 2005 an 85% stake in Elvis Presley Enterprises to CKX, the same firm that owned "American Idol." However, the business venture failed.

Authentic Brands Group paid $145 million to acquire the licensing rights to Elvis' likeness and estate from CKX, which the company sold to a private equity firm in 2011, according to Rolling Stone.

Lisa Marie filed a lawsuit against her former business manager after the disastrous deal, claiming he had wasted $100 million of her money due to negligence and mismanagement.

Her funds were being managed by her former business manager, who proposed the $100 million deal to sell 85% of Elvis Presley Enterprises.

Lisa Marie's former manager countersued her for $800,000 in unpaid fees, claiming that Lisa Marie's extravagant spending was the primary cause of her savings running out.

At the time of her death, Lisa Marie still profited from the tourism of Graceland. However, the business suffered because of the COVID-19 pandemic.

Graceland was previously earning about $15 million a year since it opened in 1982.

But court documents obtained by The Blast in November 2022 showed that Lisa Marie was only earning $4,361 monthly as an employee of Graceland and $104,000 per month from Elvis Presley Enterprises.

Her love life also reportedly cost her money in divorce payments over the years. Lisa Marie married and divorced four times during her life, including Nicolas Cage and Michael Jackson.

Her most recent split was in 2020, with ex-husband Michael Lockwood who demanded $450,000 from Lisa Marie to cover the cost of his legal fees.

Court documents related to her divorce from Lockwood disclosed that Lisa Marie owed $16 million because of unpaid taxes, attorney, and credit card bills.

The singer also owned two houses in Hidden Hills, Los Angeles. However, she already sold one of them for $5 million in 2010.

Lisa Marie Presley Death

Lisa Marie Presley died at the age of 54 on Thursday night. She was taken to a hospital that morning for possible cardiac arrest.

According to a Los Angeles County Sheriff's Department representative who spoke with PEOPLE, paramedics were called to the 5900 block of Normandy drive in Calabasas to treat a woman in her 50s who had stopped breathing.

Once there, they performed CPR and, upon seeing "signs of life," they took the woman to a nearby hospital for "immediate medical care."

A source told TMZ that Lisa Marie had complained of stomach aches early Thursday morning that worsened, stressing that her death was not suicide.

She reportedly suffered a full cardiac arrest that morning before the paramedics arrived.

Just after the housekeeper discovered Lisa Marie motionless in her bedroom, her ex-husband, Danny Keough, who she lives with, returned from dropping off their children at school.

Keough performed CPR on Lisa Marie while waiting for the paramedics. Upon arrival, the paramedics administered at least one epinephrine shot, and her heartbeat returned.

TMZ reported that she was then rushed to a hospital and was placed in the ICU, on life support with a temporary pacemaker. She died later that night.

This article is owned by Latin Post.

Written by: Bert Hoover

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