Elvis’ daughter has blown through all her cash.
Lisa Marie Presley is reportedly more than $ 16.7 million in debt, according to her recent divorce records from Michael Lockwood, People reports.
The documents show that Presley’s debts stem from income taxes, defaulted mortgage and credit card bills.
Presley’s current business manager Justin Stiegemeyer said she first learned of the debt when her finances were being handled by her old business manager, Provident Financial Management, claiming the 50-year-old “had not been provided with proper accountings or notices or been kept abreast of her finances” by her former business manager and that at the time they were fired, Presley had “total liquid assets of less than $ 20,000.”
Stiegemeyer claims in the docs that by the end of 2015, Presley only had roughly $ 20,000 in liquid assets left to pay off her debt.
He also stated that she had nearly $ 50,000 in credit card debt that he’s actively working to pay down. Presley also receives a monthly salary of $ 4,361 from her late father Elvis Presley’s estate, as well as $ 100,000 in dividends and interest from investments.
Presley married her fourth husband, Lockwood, in 2006 and welcomed twin daughters Harper and Finley in 2008. She filed for divorce in 2016, claiming Lockwood “took advantage” of her financially and was a poor father, according to People.