Your tip

Drug-Crazed Disgrace! Lisa Marie Presley Running Elvis' Charities Into The Ground

Getting your Trinity Audio player ready...

Drug-crazed Lisa Marie Presley — who blew through her $1 billion inheritance — has destroyed her father's ­legacy by running Elvis' ­family charities into the ground, sources tell exclusively.

Shockingly, the Presley Foundation, run by The King's only child, had $26 in the bank to accomplish its mission of providing low-cost housing and helping the poor!

"Elvis' daughter has made a horrible mess of things," snitches the informant. "She has sullied her father's name and is destroying his charities!"

Article continues below advertisement

Meanwhile, four-times-divorced Lisa Marie, 49, claims she's broke after tossing $340,000 parties, and blowing massive funds on getting high.

Last summer, she lost custody of her eight-year-old twins Finley and Harper, did rehab and wound up homeless — crashing on friends' couches — while locked in a divorce with Michael Lockwood.

"She's been in a long downward spiral," says a source.

In 2005, Lisa Marie sold 85 percent of her stake in Graceland and Elvis' possessions for $100 million, but kept 15 percent of the empire.

Lisa Marie’s Downward Spiral

Sources say under Lisa Marie's guidance the Presley Foundation had only $26 in cash despite $112,000 in assets, according to tax filings, while the Elvis Presley Charitable Foundation had only $59,588 in the till.

A rep for Lisa Marie denies any wrong doing.

But the family friend insists she's at the center of the chaos.

"Elvis would be hanging his head in shame," says the family friend.

We pay for juicy info! Do you have a story for Email us at, or call us at (866) ON-RADAR (667-2327) any time, day or night.



More From Radar Online

    Opt-out of personalized ads

    © Copyright 2024 RADAR ONLINE™️. A DIVISION OF MYSTIFY ENTERTAINMENT NETWORK INC. RADAR ONLINE is a registered trademark. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Service, Privacy Policy and Cookies Policy. People may receive compensation for some links to products and services. Offers may be subject to change without notice.