Lisa Marie Presley should be living large. As the daughter of Elvis Presley, she's practically royalty. She is the sole heir to the Elvis Presley fortune, and she even sold 85% of Elvis Enterprises for $100 million. Presley has been married to both Nicholas Cage and Michael Jackson, and in 2006 she settled down with Michael Lockwood, who she is now divorcing.
Presley's divorce hasn't been pretty, and court documents pertaining to the separation revealed that she is buried in over $16 million of debt.
PEOPLE obtained the documents, which feature several statements from Justin Stiegemeyer, Presley’s business manager. Stiegemeyer divulged information regarding the debt, stating that Presley “had not been provided with proper accountings or notices or been kept abreast of her finances” by her former business manager. When the ex-business manager was fired, Stiegemeyer stated that Presley had “total liquid assets of less than $20,000.”
Most of the debt was incurred from failing to pay taxes from 2012-2015, totaling over $10 million. Presley has also defaulted on the mortgage for her home in the U.K., adding another $6 million to the pile of debt. She also has credit card debt and unpaid attorneys' bills adding to the debt.
Source: tmz.com
