Resurfaced courtroom paperwork have revealed Priscilla Presley was making $US900,000 ($1.2 million) a 12 months from Elvis Presley Enterprises (EPE) regardless of having no stake within the firm.
The staggering quantity was famous in a lawsuit filed by daughter Lisa Marie Presley in 2018, 5 years earlier than her loss of life final month. In 2010, Lisa Marie made Priscilla and her then-business supervisor Barry Spiegel co-trustees of her property, which she had inherited from her late father.
However simply eight years later, she would sue Siegel for “negligently” mishandling her cash, claiming he decreased the $US100 million ($141 million) she had inherited in 1977 to simply $US14,000 ($19,000). Nonetheless, Siegel claimed Lisa Marie’s “extreme spending” was the rationale for the loss.
Within the lawsuit obtained by Page Six, Lisa Marie claimed Spiegel had “allowed (and, in reality, lobbied)” her mom’s million-dollar revenue. The singer-songwriter famous that Priscilla’s paycheck was extreme as she had “no possession in EPE” nor was she acting on “any kind of government degree” to “justify the wage”.
“Siegel did not disclose these details to Lisa and he didn’t negotiate the identical wage profit for Lisa,” the paperwork acknowledged.
Siegel disputed Lisa Marie’s claims within the lawsuit towards him earlier than each events settled out of courtroom in 2020. The settlement was not made public.
Nonetheless, the phrases of the belief have as soon as once more made headlines following Lisa Marie’s loss of life on January 12, after she had quietly appointed her eldest daughter Riley Keough sole trustee of her property in 2016, outsing Priscilla within the course of. The belief contains possession of Elvis’ Graceland property and 15 % possession of his property.
Lisa Marie’s different surviving youngsters, 14-year-old twins Harper and Finley, may also develop into co-trustees once they come of age.
Priscilla has since filed a petition to problem the “authenticity and validity” of her daughter’s will, arguing that the modification was by no means delivered to her whereas Lisa Marie was nonetheless alive – a required by the phrases of the belief – and is due to this fact invalid.
It stays unclear why Priscilla would want to problem Lisa Marie’s resolution to nominate Riley, 33, as sole trustee as she is an grownup and in a position to make monetary choices. Nonetheless, sources declare it might be motivated by cash.
“It is strictly a cash seize,” a supply informed Page Six, including that Lisa Marie “had no relationship with Priscilla”.
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