Although she inherited over $100 million from her father, Elvis Presley, and owned Graceland, Lisa Marie Presley is believed to have left behind a staggering amount of debt to the tune of about $16 million, per the Daily Mail. It’s believed that Lisa Marie’s inheritance from her father was entirely spent due to bad investments and poor management, according to the outlet. However, the actual property of Graceland will likely be passed down to her three surviving children.
While she may not have had a great fortune to pass on personally, the Presley estate Lisa Marie left behind is a different story. Per Rolling Stone, the estate is worth between “$400 and $500 million” as of 2020. But the passing of ownership of Graceland might spell the end of the family’s ties, according to Ryan Sellers, founding partner of Hales & Sellers PLLC.
“There is a strong likelihood that Graceland gets sold, even if the family doesn’t need the funds to pay back creditors,” Sellers said in a statement. “Depending on the personality and leverage of the kids, even if there is enough liquidity in the estate to keep Graceland and pay out creditors, will they have enough cash left over to support it?” We will have to wait and see what becomes of The King’s beloved Graceland.
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Nicki
