LISA MARIE PRESLEY’s troubled life and financial collapse before her tragic 2023 death has left her father Elvis Presley’s fabled Graceland estate in hock and insiders say her eldest daughter, Riley Keough, is now in a desperate battle to keep the family treasure from going on the auction block.
In a bombshell twist to the Presley family’s troubled saga, the 13.8-acre Graceland compound in Memphis, visited by 600,000 Elvis fans each year, was set to be auctioned off because of a $3.8 million loan Lisa Marie took out but didn’t pay back — a measly amount compared to the property’s mind-boggling $500 million worth.
“Lisa Marie’s life was headed straight down in flames for years before her death,” dishes a friend. “She was in financial straits and some of the terrible deals she made to stay solvent are only now coming to the surface. In essence, she looted Elvis’ legacy to feed her own greed.
“She was also constantly battling her ex-husband Michael Lockwood over custody and child support for their twin daughters, Harper and Finley, and she became an opioid addict who did five stints in rehab. Her string of poor decisions left a mess. She died about $16 million in debt.
“Riley is now trying to keep Graceland in the family. She does not want the estate, where her grandfather Elvis and other relatives are buried, sold off to some faceless corporation.”
This story is from the June 10, 2024 edition of Globe US.
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This story is from the June 10, 2024 edition of Globe US.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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