What’s David A. Siegel net worth?
David. A. Siegel is an American entrepreneur who has a web 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 govt officer of the agency. Siegel, his spouse Jackie, and their Florida-based “Versailles” home have been additionally the topics of the award-winning documentary “The Queen of Versailles” which detailed his momentary 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 costliest 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 Could 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Sadelle and Sid Siegel, a grocer who moved the household and their grocery enterprise to Miami when David was ten years outdated.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 Faculty 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 “Evening 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 building.
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 e-mail to all of his workers, wherein he threatened to fireside them if President Obama was re-elected. He didn’t comply with by means of on that menace. In 2015, he appeared on the ABC actuality collection, “Movie star Spouse Swap,” the place he traded lives with actor Jeremy London.
Queen of Versailles
Siegel and his spouse Jackie are the topics of Lauren Greenfield’s award-winning documentary, “The Queen of Versailles.” The movie exhibits the household as they try and construct the Versailles home, the biggest and costliest single-family home in the US. 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 property in an effort to save their lives and firm from a mountain of debt. The film exhibits 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 biggest residence in the US which was modeled after Versailles in France. The home is 90,000 sq. ft and price 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 might fetch between $100 and $150 million. As of September 2020, Versailles remains to be underneath building. As soon as accomplished, Versailles could have 14 bedrooms, 32 loos, 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.
Private Life
Siegel has 9 organic kids and two adopted kids. 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 dad or mum 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 residence in Windermere. After she was taken to a hospital, she was pronounced useless. 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 only $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.
