Priscilla Presley made $900,000 a year from Elvis Presley Enterprises, according to a lawsuit, even though she had no equity in the company.
When Priscilla’s daughter, Lisa Marie Presley, sued her former executive Barry Siegel for “negligent” mishandling of her money in 2018, she found in the lawsuit that Siegel “allowed (and actually lobbied)” that her mother was a nearly seven-year-old Income.
Lisa’s attorneys added that Priscilla was paid “although Lisa’s mother has no ownership of EPE (nor did she perform any managerial work to justify the salary)”.
Priscilla Presley reportedly made $900,000 a year from Elvis Presley Enterprises, though she had no connection.priscillapresley/Instagram
“Siegel did not disclose these facts to Lisa and he did not negotiate equal pay for Lisa,” reads the complaint received by Page Six.
Siegel denied Lisa’s claims in the lawsuit against him, and it dragged on for another two years before it was settled out of court.
In Lisa Marie’s 2018 lawsuit against her former executive director, she found that Priscilla was a joint trustee. WireImage
In Lisa Marie’s 2018 lawsuit against her former executive director, she found that Priscilla was a joint trustee. Getty Images
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However, the damning document could still work in Priscilla’s favor.
She ended up being listed as “co-trustee” of Lisa Marie’s fund, while the “Lights Out” singer’s children – Riley and Benjamin Keough – were listed as “adult children of the beneficiaries” who would benefit after her death.
Priscilla was back in the news this week after filing in court to invalidate a 2016 amendment to Lisa Marie’s trust that hit her and Siegel’s names as co-trustees, claiming it was due to a suspicious signature and a misspelling of her name.
It’s unclear why Priscilla has to manage some of the value of Lisa Marie’s estate when daughter Riley is 33 and able to make financial decisions for herself. Ben died of suicide in 2020.
Priscilla disputes her late daughter’s will, claiming a 2016 amendment was fraudulent. Getty Images
A source close to Lisa Marie, who died January 12 at the age of 54, previously claimed to Page Six that Priscilla’s battle with trust was nothing more than a “money heist,” while Priscilla claimed she was merely trying to to protect her family.
A representative for Priscilla did not immediately respond to Page Six’s request for comment.
Lisa’s 14-year-old twin daughters, Finley and Harper, are now said to be beneficiaries of the property, which still owns Graceland, Elvis’ home in Memphis.
“Today would have been Lisa’s 55th birthday. My desire is to protect my three grandchildren and keep our family together,” the late King of Rock and Roll’s ex-wife said in a statement on Wednesday.
“From the moment I held Lisa in my arms, I protected, loved and guided her. … Our hearts are broken and I must learn to live without my only daughter.”