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The Real Reason Lisa Marie Presley Is Getting Divorced

Kaitlan Collins Contributor
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Lisa Marie Presley filed for divorce from her husband after 10 years of marriage because he handled their finances irresponsibly.

Lisa Marie Presley

(Photo: Getty Images)

Elvis Presley’s 48-year-old daughter cited “irreconcilable differences” when she filed court papers, but TMZ reports that it’s because Michael Lockwood ran wild with her money — including what she inherited from her father.

Presley was reportedly sued after Lockwood spent $109,000 on an American Express card, and her lawyers have opened an audit into the couple’s finances. (RELATED: Lisa Marie Presley Files For Divorce After 10 Years Of Marriage)

Lisa Marie Presley

(Photo: Getty Images)

The couple does have a postnuptial agreement that guarantees her the money from her father.

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Lockwood is Presley’s fourth husband.

She wed Danny Keough in 1988 and had two children. After they divorced, she married Michael Jackson and Nicolas Cage before marrying Lockwood in 2006.

In 2014, Presley said her relationship with Lockwood was “outstanding.”

“He takes care of everything,” she said. “He picks the musicians. He gets them ready to tour. That’s how we met, so we kind of knew each other that way and fell in love — you know, by just working together. I’m just amazed at how much he takes on and how much he deals with and handles.”