Priscilla Presley Received $900K Per Year From Elvis Presley Enterprises Despite Having No Stake In Company, Lawsuit Alleges
Priscilla Presley was allegedly making a whopping $900,000 per year from Elvis Presley Enterprises despite having no ownership or role in the multi-million-dollar company, RadarOnline.com has learned.
In a surprising development to come just days after Lisa Marie Presley passed away on January 12 after suffering cardiac arrest, new details have emerged as Priscilla attempts to contest her late daughter’s will.
According to a 2018 lawsuit filed by Lisa Marie against former business manager Barry Siegel, Siegel not only “negligently” mishandled the “Now What” singer’s money but he also allegedly “allowed (and, in fact, lobbied)” for Priscilla’s nearly $1 million annual income.
Lisa Marie’s lawyer also argued that Priscilla was being paid $900,000 per year “even though Lisa’s mother has no ownership in EPE (nor was she performing any sort of executive-level work to justify the salary).”
“Siegel failed to disclose these facts to Lisa and he did not negotiate the same salary benefit for Lisa,” the 2018 complaint read.
Siegel subsequently challenged the claims made against him and, after the lawsuit dragged on for two years, the matter was settled out of court in 2020.
Following the lawsuit’s conclusion, Priscilla was still listed as a “co-trustee” of Lisa Marie’s trust fund while two of Lisa Marie’s children – Riley and Benjamin Keough – were listed as “adult children of the beneficiary.”
As RadarOnline.com previously reported, Priscilla recently contested her late daughter’s will and filed a motion in court to invalidate a 2016 amendment made to Lisa Marie’s trust that removed both Priscilla and Siegel’s names as co-trustees of the trust.
According to Priscilla’s motion, she believes the amendment was made fraudulently both because the signature did not resemble her daughter’s and Priscilla’s name was spelled wrong.
Although Lisa Marie’s son Benjamin took his own life in July 2020, her 33-year-old daughter Riley is able to serve as the beneficiary of the trust – creating the question of why Priscilla needs to oversee Lisa Marie’s estate and not Riley.
One of Lisa Marie’s closest friends also claimed Priscilla’s motion to contest the late singer’s will and trust was nothing short of a “money grab,” although Priscilla indicated the move was meant to “protect” her remaining family.
“Today would have been Lisa’s 55th birthday,” Priscilla said on Wednesday. “My wish is to protect my three grandchildren and keep our family together.”
“From the first moment I held Lisa in my arms, I’ve protected, loved and guided her,” she continued. “Our hearts are broken, and I am having to learn to live without my only daughter.”