A new lawsuit has revealed that Priscilla Presley was reportedly making $900,000 a year from Elvis Presley Enterprises despite her having no stake in the company.
When Priscilla’s daughter, Lisa Marie Presley, sued her former business manager, Barry Siegal, back in 2018 for “negligent” mishandling of her money, she went on to note in the lawsuit that he had “allowed (and, in fact, lobbied)” her mother’s six-figure income. Lisa’s lawyers went on to argue that Priscilla was paid “even though Lisa’s mother has no ownership in EPE (nor was she performing any sort of executive-level work to justify the salary).”
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“Siegel failed to disclose these facts to Lisa and he did not negotiate the same salary benefit for Lisa,” the complaint stated. Siegel went on to dispute Lisa’s claims in the lawsuit against him, which dragged on for another two years before being settled out of court. However, the documents could yet work in Priscilla’s favor.
Priscilla Presley Questions Changes to Lisa Marie’s Will
In conclusion, it lists her as a “co-trustee” of Lisa Marie’s funds while the singer’s children, Riley and Benjamin Keough, were listed as “adult children of the beneficiary,” who would then benefit upon her death. The news comes after Priscilla decided to file a court to invalidate a 2016 amendment to Lisa Marie’s trust which erased her and Siegel’s names as Co-Trustees, claiming it was fraudulent due to a suspicious signature of Lisa Marie and a misspelling of her name.
It is still unclear why Priscilla would want to administer any of the value of Lisa Marie’s estate when her daughter 33-year-old Riley Keough is able to make financial decisions for herself. Her brother, Benjamin, tragically died by suicide in 2020.
According to Page Six, a source close to Marie, who died on January 12th at 8:54, previously claimed that Priscilla fighting the trustee was no more than a “money grab,” while Priscilla maintained she is trying to protect her family. A representative for Priscilla has yet to make a comment on the situation.
Lisa Marie’s 14-year-old twin daughters, Harper and Finley, are also beneficiaries of the estate, which still owns Elvis’s home in Memphis.