David. A. Siegel is an American entrepreneur who has a internet value of $500 million {dollars}. Siegel is well-known for founding Westgate Resorts, a Florida-based timeshare resort agency. He serves as president and chief government officer of the agency. Siegel, his spouse Jackie, and their Florida-based “Versailles” home have been additionally the themes of the award-winning documentary “The Queen of Versailles” which detailed his short-term monetary stresses within the wake of the 2008 actual property bubble collapse at a time when he and his spouse Jackie have been trying to construct one of many largest and most costly houses in US historical past, in Florida. Extra particulars on this home and documentary later within the article.

Early Life

Based mostly in Florida, David A. Siegel was born on Might 3, 1935 in Chicago. He was born to Sadelle and Sid Siegel, a grocer who moved the household and their grocery enterprise to Miami when David was ten years outdated. Siegel graduated from Miami Senior Excessive College in 1935 and attended the College of Miami, the place he studied administration and advertising and marketing. He didn’t find yourself graduating.

Profession

Siegel was one of many founders of Thriller Enjoyable Home, an Orlando attraction that opened on March 29, 1976 and operated till 2001. He additionally produced the film “Night time Terror” in 2002.

He based the very profitable timeshare firm Westgate Resorts, Ltd., and at present serves as the corporate’s President and Chief Government Officer.

Along with his work with Westgate, he’s additionally the CEO of Central Florida Investments, Inc., and the Central Florida Investments Resorts Administration, Inc. His funding firm has pursuits in journey providers, transportation, retail, telecommunications, and development.

Siegel was at one level value over $1 billion {dollars} however his numerous enterprise ventures have been adversely affected by the 2008 monetary disaster. In 2012, he made headlines when he despatched an electronic mail to all of his staff, during which he threatened to fireside them if President Obama was re-elected. He didn’t observe via on that risk. In 2015, he appeared on the ABC actuality sequence, “Celeb Spouse Swap,” the place he traded lives with actor Jeremy London.

Queen of Versailles

Siegel and his spouse Jackie are the themes of Lauren Greenfield’s award-winning documentary, “The Queen of Versailles.” The movie reveals the household as they try and construct the Versailles home, the most important and most costly single-family home in the USA. The documentary additionally chronicles the crises they face because the U.S. financial system begins to tank, and the Siegel’s struggles to promote numerous costly private belongings with the intention to save their lives and firm from a mountain of debt. The film reveals Siegel attempting and failing to retain possession of Westgate’s Las Vegas high-rise resort, the PH Towers Westgate.

Previous to 2008, the couple constructed what is taken into account the most important house in the USA which was modeled after Versailles in France. The home is 90,000 sq. toes and value over $50 million to construct and one other $25 million to furnish. The Siegels struggled to discover a purchaser for the property which they hoped may fetch between $100 and $150 million. As of September 2020, Versailles continues to be underneath development. As soon as accomplished, Versailles can have 14 bedrooms, 32 bogs, 11 kitchens, a movie show, a curler rink, a bowling alley, a 30-car storage, three ranges, two elevators — together with one that’s gold — and a slew of different facilities. The worth of the property is estimated to exceed $30 million.

The Siegels filed two lawsuits in opposition to the filmmakers of the documentary, however subsequently misplaced each.

Siegel has 9 organic youngsters and two adopted youngsters. He married Geraldine Florence Sanstrom in 1961 and so they have been married till 1969. Siegel married Betty Tucker in 1970 and so they remained married till their divorce in 1997. He remained the custodial father or mother of all the kids. He met his spouse Jackie Siegel in 1998 and so they married in a Jewish ceremony in 2000. In June 2015, the Siegels’ 18-year-old daughter Victoria Siegel was discovered unresponsive at their house in Windermere. After she was taken to a hospital, she was pronounced lifeless. Her reason for dying was dominated a drug overdose, thus motivating David to advocate strongly in opposition to drug abuse.

In 2008, David Siegel was discovered liable in a sexual harassment lawsuit introduced by Daybreak Myers, a former Westgate worker. After a trial in Florida, the jury awarded her $5.4 million, however a decide lowered the award to simply $610,000. Within the trial award, Myers was given $103,622 in compensatory damages and $506,847 in punitive damages arising from her declare of battery underneath state legislation.