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Priscilla Presley is making headlines as a new lawsuit claims that she hid a $25 million jewelry collection from the Internal Revenue Service (IRS), per People Magazine.
The lawsuit has been filed by her former business partners, Brigitte Kruse and Kevin Fialko, who claimed that she misrepresented her assets, “to negotiate down her tax obligations.” According to the outlet, she falsely represented to the IRS that she owned jewelry worth $6000 on her Form 433-A.
The allegations of underreporting her true wealth have evoked a sudden interest in her financial status, making her net worth a central topic for discussion on social media platforms.
According to Celebrity Net Worth, Priscilla Presley has a net worth of $10 million.
Here are more details on Presley’s fortune.
Exploring the fortune of Priscilla Presley
Priscilla Presley, who was married to legendary singer Elvis Presley from 1967 to 1973, has accumulated wealth through her career as a businesswoman and an actress.
Following the death of her daughter, Lisa Marie Presley, at the age of 54, Priscilla was also involved in a legal battle regarding her ex-husband’s estate with her granddaughter, Riley Keough. They reached a settlement that made Keough the sole trustee of the estate.
According to Biography, Presley received a payment of $1 million and an additional sum of up to $400,000 to cover her legal fees. She has been retained as a “special adviser” and will be paid an “undisclosed annual amount for 10 years, or until her death.”
She opened Graceland on June 7, 1982, as a tourist attraction, turning it into a viable business, and hired Jack Soden to oversee the operations. In 2023, Keough became the owner of Graceland.
Priscilla Presley is known for her roles in The Naked Gun film trilogy and the TV series Dallas. She is also the founder of the Elvis Presley Enterprises in 1981.
When Priscilla and Elvis divorced in October 1973, she received $725,000. Additionally, she was granted spousal support and 5 per cent of the singer’s royalties. She also received at least half the amount from the sale of their Beverly Hills, California house.
In the same year, she opened Bis & Beau clothing boutique in Los Angeles along with her friend and stylist, Olivia Bis. It was loved by celebrities such as Natalie Wood, Cher, Barbara Streisand, and more. It was closed in 1976.
Priscilla is the author of Elvis and Me, which she wrote in 1985. It became the inspiration behind Sofia Coppola's 2023 film, Priscilla. In the late 1990s, Priscilla started a fragrance line. She made her debut with the perfume Moments in 1990, which consisted of intense notes of aldehydes, amber, patchouli, orris root, and oakmoss. She later ventured into a skincare line named after her.
Priscilla has produced several movies and TV projects, which also add to her income. In 2019, she sold her parents’ home for $3.6 million, and a year later, she sold her Beverly Hills home for $13 million.
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