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David Siegel Net Worth, Early Life, Family & Everything You Need To Know (Updated 2022)

Siegel is widely recognized for establishing the Florida-based timeshare resort company Westgate Resorts. He is the company’s president and chief executive officer. The award-winning documentary “The Queen of Versailles” told the story of Siegel’s short financial troubles after the 2008 real estate bubble burst, when he and his wife Jackie were trying to build one of the biggest and most expensive homes in US history in Florida. It also showed Siegel, his wife Jackie, and their “Versailles” home there.

David A. Siegel’s Net Worth

David A. Siegel is an American businessman with a net worth of $500 million. His current estimated net worth is $500 million, according to Celebrity Net Worth. In 2016, Forbes estimated that he was worth $900 million.

Early Life 

David A. Siegel, who now resides in Florida, was born in Chicago on May 3, 1935. When David was ten years old, his grocery store-owning parents, Sadelle and Sid Siegel moved the family and their operation to Miami. After earning his diploma from Miami Senior High School in 1935, Siegel enrolled at the University of Miami to pursue a career in management and marketing. He ultimately dropped out of school. 

Career 

Siegel was a co-creator of the Orlando tourist attraction Mystery Fun House, which opened on March 29, 1976 and lasted until 2001. In 2002, he was also a producer of the film “Night Terror.” 

He is the president and CEO of Westgate Resorts, Ltd., a very successful timeshare business, at the moment.

He is the CEO of Central Florida Investments, Inc. and Central Florida Investments Resorts Management, Inc., in addition to his work with Westgate. His investment firm is involved in the tourism industry as well as transportation, retail, telecommunications, and building. 

Although Siegel formerly had a net worth of over $1 billion, the 2008 financial crisis had a negative impact on all of his business endeavors. He gained notoriety in 2012 when he threatened to dismiss all of his staff members if President Obama was re-elected in an email to all of his employees. He threatened to do it, but he didn’t. In 2015, he was on the reality show “Celebrity Wife Swap” on ABC, where he and actor Jeremy London switched lives.

The Queen of Versailles 

The Queen of Versailles, a documentary by Lauren Greenfield, is about Siegel and his wife, Jackie. The family’s efforts to construct the Versailles house, the biggest and priciest single-family home in the country, are depicted in the movie. The documentary also details their battles to sell a variety of pricey personal belongings in order to salvage their firm and themselves from mounting debt as the US economy starts to tank. In the movie, Siegel tries and fails to keep his ownership of the PH Towers Westgate, a Las Vegas high-rise resort owned by Westgate.

The couple constructed what is thought to be the largest house in the United States before 2008, emulating Versailles in France. The 90,000-square-foot home was built for more than $50 million, and another $25 million was spent on its furnishings. Finding a buyer for the property, which the Siegels believed would sell for between $100 and $150 million, proved to be difficult.

Versailles will still be under construction in September 2020. Versailles will include three levels, two elevators, one of which is gold, a movie theatre, a roller rink, a bowling alley, a 30-car garage, 14 bedrooms, 32 bathrooms, 11 kitchens, and a variety of other amenities once it is finished. The property is thought to be worth more than $30 million. 

The Siegels sued the documentary’s creators twice, but they ultimately lost both cases.

Personal Life

Nine of Siegel’s children are biological, and the other two are adopted. In 1961, he wed Geraldine Florence Sanstrom; they remained together until 1969. In 1970, Siegel wed Betty Tucker; the couple was together until their divorce in 1997. He continued to be the parent with primary custody of each child.

In 1998, he began dating Jackie Siegel, and in 2000, they tied the knot in a Jewish ceremony. Victoria Siegel, the Siegels’ 18-year-old daughter, was discovered unconscious at their Windermere home in June 2015. She was transported to a hospital where she was later declared dead. Once it was determined that the cause of death was a heroin overdose, David was inspired to speak out firmly against drug misuse. 

An accusation of sexual harassment presented by Dawn Myers, a former Westgate employee, resulted in David Siegel’s liability being established in 2008. The jury gave her $5.4 million after a Florida trial, but the judge only lowered it to $610,000. Under state law, Myers’s claim of battery led to a trial verdict of $103,622 in compensatory damages and $506,847 in punitive damages. 

Frequently Asked Questions

  • Who is David Siegel? 

Siegel is widely recognized for establishing the Florida-based timeshare resort company Westgate Resorts.

  • What is the position held by David Siegel? 

Since 1971, David Siegel has served as Central Florida Investments Inc.’s CEO.

  • Who is David Siegel’s present spouse?

David Siegel is married to Jacqueline “Jackie” Siegel.

  • What is David Siegel’s age?

At this time, David Siegel is 86 years old.

  • What is the Net worth of David Siegel? 

The estimated worth of David Siegel is $500 million.