David A. Siegel, a self-made American entrepreneur, is currently estimated to be worth $500 million. Siegel is renowned for founding the Florida-based timeshare resort firm, Westgate Resorts, where he serves as the president and CEO. Siegel, along with his wife Jackie and their opulent “Versailles” house in Florida, were the subjects of the award-winning documentary “The Queen of Versailles.”
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Summary of David Siegel Net Worth
|Net Worth||$500 million|
|Primary Source of Wealth||Westgate Resorts, Ltd.|
|Other Businesses||Central Florida Investments, Inc., Central Florida Investments Resorts Management, Inc.|
|Notable Ventures||Florida-based “Versailles” house, Mystery Fun House, movie “Night Terror”|
Diving Deeper into David Siegel Net Worth
David Siegel’s vast fortune primarily stems from his successful timeshare company, Westgate Resorts, Ltd. He serves as the president and CEO of the company. In addition, Siegel is the CEO of Central Florida Investments, Inc., and the Central Florida Investments Resorts Management, Inc. These investment companies have interests in various sectors including travel services, transportation, retail, telecommunications, and construction.
Early Life and Education
Born on May 3, 1935, in Chicago, David Siegel was the son of grocer Sid Siegel. The family relocated to Miami when Siegel was ten. He attended the University of Miami, studying management and marketing, but did not graduate.
Siegel co-founded the Mystery Fun House, an Orlando attraction that operated from 1976 to 2001. He also produced the movie “Night Terror” in 2002. Siegel’s most notable venture, however, is Westgate Resorts, a successful timeshare company.
Financial Struggles and Recovery
The 2008 financial crisis took a toll on Siegel’s net worth, reducing it from over $1 billion. He and his wife Jackie were building one of the most expensive homes in US history, named “Versailles,” when the crisis hit. The documentary “The Queen of Versailles” chronicles their financial struggles during this period.
The Queen of Versailles
The documentary showcases the Siegels’ attempts to construct the Versailles house, which was intended to be the largest and most expensive single-family house in the United States. The house, modeled after Versailles in France, is still under construction as of September 2020.
Siegel has been married three times and is the father of nine biological children and two adopted children. He has faced legal troubles including a sexual harassment lawsuit in 2008, which resulted in a $610,000 payout to the claimant.
Despite financial setbacks and personal challenges, David Siegel has maintained a significant net worth through his various business ventures. His story serves as a reminder of the volatility and risk inherent in entrepreneurial pursuits.
1. What is David Siegel’s net worth?
David Siegel’s net worth is estimated at $500 million.
2. What is Siegel’s primary source of wealth?
Siegel’s primary source of wealth is his timeshare company, Westgate Resorts, Ltd.
3. What other businesses does Siegel own?
Siegel is also the CEO of Central Florida Investments, Inc., and the Central Florida Investments Resorts Management, Inc.
4. What is the “Queen of Versailles”?
“The Queen of Versailles” is a documentary that follows Siegel and his wife as they attempt to build one of the most expensive homes in US history during the 2008 financial crisis.
5. What is Siegel’s personal life like?
Siegel has been married three times and is the father of eleven children. He has faced legal issues, including a sexual harassment lawsuit in 2008.
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