Lisa Marie Presley Breaks Social Media Silence With Photo of Twin Daughters Following Legal Drama
Lisa Marie Presley has broken her social media silence since finding herself in financial [...]
Lisa Marie Presley has broken her social media silence since finding herself in financial troubles. Towards the end of March, Presley took to Instagram to share a sweet photo of her and her twin daughters Harper and Finley Lockwood holding a puppy in the first image, and another shot of them petting two inside a fenced in area. "We've been fostering pups from a shelter. Exhausting but so rewarding [thumbs up and dog emoji] be well [heart emoji]," she wrote to caption the sweet moments.
This was the first time fans had heard from her via Instagram since June 2019. The daughter of Elvis Presley has remained silent following financial hardship and battling with her ex-husband Michale Lockwood, who she accused of being inappropriate with their two daughters. As a result, Michael was suppose to pay a large chunk of Presley's legal fees as the two went to battle over their case, but only added fuel to the fire.
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Although she inherited $100 million, she found herself -$16 million. Allegedly, a slew of lawsuits and bad investments are to blame for a massive amount of debt. However, she detailed that she didn't end up in so much debt on her own, in 2018 she sued her former business manager Barry Siegel and his company, Provident Financial Management, for $100 million for allegedly using all of her father's money and only leaving her with $14,000.
"Had Barry disclosed the trust's true financial condition to Lisa and restricted spending to the trust's 'income' rather than its principal assets, Lisa would have lived comfortably on an annual budget of between $1.5 and $2 million per year, after taxes," documents filed in her lawsuit read. "[But] Barry repeatedly led Lisa to believe she was in 'good shape' with her finances." The documents also state that Siegel, who was in charge of the trust that Elvis left to her when he died in 1977, was being "reckless and negligent" with her money. She even claimed that he forced her into investing in American Idol's holding company, which eventually went bankrupt, losing $24.5 million.
The documents go on to claim that he said he paid himself an "average annual salary of $701,000 per year," even though she was continuing to lose money at a rapid pace. However, her story differs from Siegel as he countersued for $800,000 in damages, pointing fingers at her for losing her own money. He claims that she was reckless with her spending. Following her public debate over her finances, she stayed silent on social media, however, fans seem to be happy that she's posting again.