Priscilla Presley was making $900,000 a year from Elvis Presley Enterprises despite having no stake in the company, a lawsuit alleges.
When Priscilla’s daughter, Lisa Marie Presley, sued her former business manager, Barry Siegel, in 2018 for “negligently” mismanaging his money, she noted in the lawsuit that Siegel “authorized (and, indeed, pressured)” on almost seven years from his mother. – income figure.
Lisa’s lawyers added that Priscilla was being paid “even though Lisa’s mother did not own EPE (and did not perform any kind of managerial work to justify the salary)”.
“Siegel did not disclose these facts to Lisa and he did not negotiate the same salary benefit for Lisa,” said the complaint, obtained by Page Six.
Siegel disputed Lisa’s claims in the lawsuit against him, and it dragged on for another two years before being settled out of court.
However, the scathing document could still work in Priscilla’s favor.
At its conclusion, it lists her as a “co-administrator” of Lisa Marie’s fund while the “Lights Out” singer’s children – Riley and Benjamin Keough – were listed as “adult children of the beneficiary”, who would benefit her dead.
Priscilla is back in the news this week after filing in court to strike down a 2016 amendment to Lisa Marie’s trust that hit her and Siegel’s names as co-trustees, saying it was fraudulent due to a suspicious signature and misspelling of his name.
It’s unclear why Priscilla would need to administer some of the value of Lisa Marie’s estate when her daughter Riley is 33 and capable of making financial decisions on her own. Ben committed suicide in 2020.
A source close to Lisa Marie, who died at 54 on January 12, previously told Page Six that Priscilla fighting trust was nothing more than a ‘money grab’, while Priscilla maintained that she was just trying to protect his family.
A representative for Priscilla did not immediately return Page Six’s request for comment.
It is also believed that Lisa’s 14-year-old twin daughters Finley and Harper are now the beneficiaries of the estate, which still owns Graceland, Elvis’ home in Memphis.
“Today would have been Lisa’s 55th birthday. My wish is to protect my three grandchildren and keep our family together,” the late rock and roll king’s ex-wife said in a statement on Wednesday.
“From the first moment I held Lisa in my arms, I protected, loved and guided her. … Our hearts are broken and I have to learn to live without my only daughter.