February 19, 2017, - 9:20 am
Lisa Marie Presley Broke: Elvis’ Daughter Blew $300 Million Fortune
More evidence that if you didn’t earn it, you don’t appreciate it. The late Elvis Presley’s only child, Lisa Marie Presley, now says she’s broke and has nothing left from the $300 million fortune her father left her.
Over the years on this site, I’ve written about plenty of people who’ve blown through their fortunes. Most of them are Black professional athletes who came from the killing fields of America and didn’t know how to save. Some, like boxer Thomas “Hitman” Hearns, who went through a $40 million fortune, were too nice to hangers-on and family members. Others, like former NFLer Travis Henry, couldn’t keep their pants zipped and fathered zillions of kids with a cornucopia of baby mamas. And still others, like Warren Sapp, had a combination of bad spending habits (he bought lion rugs and collected expensive sneakers) and Multi-Baby-Daddy Syndrome. And there’s Dionne Warwick and her profligate spending (she can’t live on $21,000 a month), which she apparently didn’t foresee as a hack for the Psychic Hotline Network.
Now, there’s Lisa Marie. She blew threw a lifetime of Elvis earnings and about 40 years more of his estate’s posthumous earnings, which is incredible. And there’s nothing left. That’s because, back in 2004, Ms. Presley sold off most of her interest in Graceland and in her late father’s trademark and licensing fortune to the then-owner of “American Idol” for $100 million.
That’s what happens when you’re a spoiled kid of rich parents. You don’t know the value of a dollar, and you blow through it like it’s water.
No tears from me for this idiotette. She married four times, including bizarro marriages to Michael Jackson and Nicolas Cage (and the latest, the guy in the picture with the stupid hat). And she probably threw a lot of money down the toilet on her failed singing career. If she’d been smart, she’d have dedicated her career to the money-making licensing and trademarking opportunities of Elvis’ estate instead of selling it off, and that’s it. Sadly, her mother was Priscilla Presley, obsessed with being famous and in the public eye. And she inherited her mother’s silly ambitions.
But the definition of “broke” is different between celebrities and us “little people.” Papers filed in her divorce show that Presley earns $4,361 per month in salary from a (no-show) “job” at Graceland and $100,000 per month in “investment income” from a trust Elvis set up for her (smartest thing he ever did, apparently). That’s about $1,250,000 per year–not exactly broke . . . for us regular people. (I’d take it.) It’s that her lifestyle needs to take a haircut. She owes over $200,000 to American Express and is being sued by the credit card company for non-payment. And, then, there’s this:
Presley, who claims nearly all of her $300 million fortune is gone, said in the papers that she has to pay for two nannies to go along as monitors when her husband visits the children.
Um, two nannies? How ’bout you raise your own kids yourself (like most other Americans do)? You can’t do it on one-and-a-quarter-million dollars a year? Wow.
Now, $300 million lighter with little to show for it, Lisa Marie has to move in with her daughter all while she has to raise her latest family of twin eight-year-old daughters who will never see a penny of their grandfather’s multi-millions.
So sad, too bad.
Ladies and Gentlemen, Elvis is turning over in his grave.
Tags: Elvis, Elvis fortune, Lisa Marie Presley, Lisa Marie Presley broke, Lisa Marie Presley divorce
Poor, dumb fourth husband! He thought he was the luckiest man on the face of the earth by marrying Queen Lisa Marie I. Now he’s learning a hard lesson: Reality bites.
Primetime on February 19, 2017 at 10:27 am