Lisa Marie Presley’s estranged ex is trying his best to prove to the court his dire economic situation in his ongoing bitter divorce with Elvis’ famous daughter, RadarOnline.com has exclusively learned.
An income and expense report Lockwood filed with the court on Jan. 18 show just how far down the economic ladder he’s fallen since he and 49-year-old Presley, who had been married for ten years, parted ways in 2016.
According to Lockwood’s legal filing, he had worked exclusively as Presley’s musical director and lost his musical contacts as a result.
At the time of the filing, Lockwood, 49, stated he had earned just over $2,500 a month for Elite Guitars and Boutique Amplifier Distribution, had just $435.72 in checking or savings and owned two guitars, one of which was at a pawn shop, worth around $15,000.
He stated that for the 12 months before September 2017 he received $706.79 in royalties for his music.
The musician, who shares two kids with Presley — 9-year-old twin daughters Harper and Finley — claimed his expenses ran $2,967 each month, including $789 for auto-related expenses, $500 for groceries, $140 for phone service, $80 for laundry and cleaning, $30 for medication and another $30 for entertainment, gifts or travel.
Lockwood estimated Presley earns nearly $350,000 a month, or over $4,000,000 annually.
A judge on the case has yet to rule whether or not Presley’s pre-nuptial agreement with Lockwood is valid.
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