What is David A. Siegel's net worth?
David. A. Siegel is an American entrepreneur who has a net worth of $500 million dollars. Siegel is widely known for founding Westgate Resorts, a Florida-based timeshare hotel firm. He serves as president and leader govt officer of the firm. Siegel, his wife Jackie, and their Florida-based "Versailles" area were additionally the topics of the award-winning documentary "The Queen of Versailles" which detailed his transient monetary stresses within the wake of the 2008 actual estate bubble collapse at a time when he and his wife Jackie were making an attempt to construct one of the most largest and most costly properties in US history, in Florida. More details on this space and documentary later in the article.
Early Life
Based in Florida, David A. Siegel was once born on May 3, 1935 in Chicago. He used to be born to Sadelle and Sid Siegel, a grocer who moved the kinfolk and their grocery business to Miami when David used to be ten years old. Siegel graduated from Miami Senior High School in 1935 and attended the University of Miami, where he studied management and advertising. He didn't finally end up graduating.
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Career
Siegel used to be one of the crucial founders of Mystery Fun House, an Orlando attraction that opened on March 29, 1976 and operated till 2001. He additionally produced the movie "Night Terror" in 2002.
He based the very a success timeshare corporate Westgate Resorts, Ltd., and currently serves as the corporate's President and Chief Executive Officer.
In addition to his work with Westgate, he is additionally the CEO of Central Florida Investments, Inc., and the Central Florida Investments Resorts Management, Inc. His investment corporate has pursuits in commute products and services, transportation, retail, telecommunications, and building.
Siegel used to be at one point worth over $1 billion dollars but his quite a lot of business ventures were adversely affected by the 2008 monetary disaster. In 2012, he made headlines when he sent an email to all of his staff, during which he threatened to fireside them if President Obama was re-elected. He didn't practice via on that risk. In 2015, he appeared at the ABC fact collection, "Celebrity Wife Swap," where he traded lives with actor Jeremy London.
Queen of Versailles
Siegel and his wife Jackie are the subjects of Lauren Greenfield's award-winning documentary, "The Queen of Versailles." The film displays the kin as they attempt to build the Versailles space, the largest and most costly single-family space in the United States. The documentary also chronicles the crises they face because the U.S. economy begins to tank, and the Siegel's struggles to sell more than a few dear private belongings with the intention to save their lives and company from a mountain of debt. The movie displays Siegel trying and failing to retain ownership of Westgate's Las Vegas high-rise resort, the PH Towers Westgate.
Prior to 2008, the couple constructed what is considered the largest home in the United States which was once modeled after Versailles in France. The house is 90,000 square feet and value over $50 million to construct and every other $25 million to furnish. The Siegels struggled to find a purchaser for the property which they was hoping may just fetch between $100 and $a hundred and fifty million. As of September 2020, Versailles remains to be beneath construction. Once completed, Versailles will have 14 bedrooms, 32 bogs, eleven kitchens, a movie theater, a curler rink, a bowling alley, a 30-car storage, three levels, two elevators — including one this is gold — and a slew of alternative facilities. The worth of the valuables is estimated to exceed $30 million.
The Siegels filed two court cases towards the filmmakers of the documentary, however subsequently misplaced both.
(Photo by Gerardo Mora/Getty Images)
Personal Life
Siegel has 9 organic kids and two adopted youngsters. He married Geraldine Florence Sanstrom in 1961 they usually had been married till 1969. Siegel married Betty Tucker in 1970 and so they remained married till their divorce in 1997. He remained the custodial mother or father of all of the youngsters. He met his spouse Jackie Siegel in 1998 and they married in a Jewish rite in 2000. In June 2015, the Siegels' 18-year-old daughter Victoria Siegel was discovered unresponsive at their home in Windermere. After she was taken to a health facility, she used to be pronounced dead. Her reason for demise used to be ruled a drug overdose, thus motivating David to suggest strongly towards drug abuse.
In 2008, David Siegel used to be discovered liable in a sexual harassment lawsuit introduced by way of Dawn Myers, a former Westgate employee. After a trial in Florida, the jury awarded her $5.Four million, however a pass judgement on diminished the award to simply $610,000. In the trial award, Myers was once given $103,622 in compensatory damages and $506,847 in punitive damages arising from her declare of battery beneath state law.
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