Lisa Marie Presley’s twin daughters and eldest child Riley Keough in line to inherit Elvis' Graceland home
CALABASAS, CALIFORNIA: With the sudden death of Lisa Marie Presley, speculations have begun regarding her valuable assets, which includes the Graceland mansion, which she inherited from her legendary father, Elvis Presley. Though Lisa reportedly received $100 million on her 25th birthday, it has been claimed that she lost everything because of alleged bad financial decisions. Reports have also said that she was shouldering a huge debt, leaving her with just Graceland as her only sizeable asset.
Lisa, who died of cardiac arrest on Thursday, January 12 has three children – Riley Keough, whom she shared with her first husband Danny Keough, and teenage twins Harper Vivienne and Finley, whose father is Michael Lockwood. There are high chances that her kids will inherit the 13.8-acre property. The Memphis estate was purchased by Elvis in 1957 for around $100,000. It is not known if Lisa had any other monetary assets and if the three will get anything else from their late mother. Daily Mail reported that “Elvis's trust, which was once valued at $100 million, was all but gone by 2015.”
The ‘You Ain't Seen Nothin' Yet’ singer had reportedly blamed Barry Siegel, a famous entertainment business manager, for the trust being squandered away. She even took legal action against him as court documents filed against the man read, “Between 2005 and the time of the American Idol bankruptcy, Siegel billed $4.9 million to 'manage' the trust, an average annual salary of $701,000 per year. Had Siegel disclosed the trust's true financial condition to Presley and restricted spending to the trust's 'income' rather than its principal assets, Presley would have lived comfortably on an annual budget of between $1.5 and $2 million per year, after taxes.”
It added, “On this budget, Siegel's lucrative compensation package would have amounted to between 40 to 50 percent of Presley's post-tax annual budget - an amount she undoubtedly would not have agreed to had she been aware of her true financial condition. Siegel repeatedly led Lisa to believe she was in 'good shape' with her finances.”
Meanwhile, Lisa also had a son, Benjamin Keough, whom she lost to suicide in July 2020. Benjamin was the biological brother of Riley. A year after his death, the 33-year-old actress spoke of Benjamin with Vogue as she said, “There's nothing that can prepare you for loss and tragedy and I wish there was. When I lost my brother, I felt so angry that no one talks about death. It's hidden away and then it happens to you and you're thrown into an ocean and you can't swim.”
She reportedly explained, “So for me, what's been helpful is trying to help other people who are experiencing similar things. I trained to be a death doula and got my certificate to be a death midwife. I read a lot, meditate and I'm very spiritual. I think it's rewired my entire existence and also made me thankful for every moment. I have so much more love in my heart than I could ever have imagined,” before adding, “But, it is painful and a lot of work. It's been a tragic year for so many people. There's been so much suffering. It makes you realize how connected we all are.”