Lisa Marie Presley is suing her former business manager for the loss of almost all her $100 million inheritance – accusing him of “reckless and negligent mismanagement” and claiming she has only $14,000 left.

The only child of Elvis and Priscilla Presley, she inherited his entire estate on her 25th birthday, in 1993.

Elvis’s fortune had dwindled to only a few million dollars at the time of his death in 1977, but the power of the Presley brand – including the tourist attraction Graceland – meant assets were built back up into the $100m trust.

Yet 25 years later Presley, now 50 and a singer in her own right, claims she has been left with almost nothing thanks to the actions of Barry Siegel.

She accused him, in a law suit filed in Los Angeles this week, of dissipating her wealth “through his reckless and negligent mismanagement and self serving-ambition”.

She also claimed Mr Siegel’s “hopes of attaining his own celebrity in the entertainment industry” led him to place her assets in “risky ventures.”