Priscilla Presley earned $900K per year from Elvis Presley Enterprises despite holding no stake, claims lawsuit
CALABASAS, CALIFORNIA: Priscilla Presley raked in a whopping $900,000 a year from Elvis Presley Enterprises despite having no level of ownership in the company, according to a lawsuit filed. A lawsuit brought by Lisa Marie in 2018 against the former business manager, Barry Siegel, claimed that Siegel not only "negligently" mismanaged her money, but also "allowed (and, in fact, lobbied)" for Priscilla's close to $1 million annual salary.
Lisa's attorneys revealed that Priscilla was receiving payment, “even though Lisa’s mother has no ownership in EPE (nor was she performing any sort of executive-level work to justify the salary).” "Siegel failed to disclose these facts to Lisa and he did not negotiate the same salary benefit for Lisa," the 2018 complaint read. The lawsuit against Siegel continued for another two years until an out-of-court settlement was reached because Siegel denied Lisa's allegations. In 2020, the matter was resolved in court, RadarOnline reported.
READ MORE
Lisa Marie Presley: Riley Keough shares throwback pic with mom in heartbreaking post after her death
Why did Priscilla Presley dispute Lisa Marie's revised trust?
Siegel refuted her allegations, and the parties wrangled over the case for two years before coming to a compromise. Priscilla was listed as a "co-trustee" on Lisa Marie's trust in the court documents from 2018, but her children Riley Keough and Benjamin Keough, whom she had with her ex Danny Keough, were only listed as "adult children of the beneficiary," according to the documents.
This comes days after Priscilla disputed a shady 2016 amendment to her late daughter's 2010 trust that purportedly removed her and her ex-manager from the list of trustees and replaced them with Riley and Ben. Priscilla claims in her motion that she thinks the amendment was made illegally since both Priscilla's name was reportedly misspelled and the signature did not resemble that of her daughter.
Although Lisa Marie's son Benjamin died by suicide in July 2020, her 33-year-old daughter Riley is eligible to be the trust's beneficiary and capable of handling her finances on her own, therefore it is unclear why Priscilla would need to manage any of Lisa Marie's estate's assets.
Is Priscilla's fight against trust a 'money grab'?
MEAWW earlier reported that a source close to Lisa Marie stated that Priscilla's fight against the trust was nothing more than a "money grab." However, Priscilla insisted that she is only attempting to safeguard her family. Lisa Marie died on Thursday, January 12 at the age of 54.