David Siegel Net Worth: What is the Wealth of American Businessman?

David Alan Siegel is a successful American businessman and the current chief executive officer and president of Westgate Resorts Ltd in Orlando, Florida. In addition to leading Central Florida Investments Inc. and CFI Resorts Management Inc., he is also their chief executive officer.

Other than real estate and construction, he is also involved in hotel and apartment management, tourism, transportation, insurance, and retail. Siegel grew up in Florida, although he was born in Illinois. He graduated from Miami Senior High and then went on to study business administration at the University of Miami.

However, he stopped attending classes. Siegel founded CFI in the garage of his home in 1970. In 1982, he opened the first resort in the Westgate chain, Westgate Vacation Villas, with 16 rooms. The organization has now expanded to 28 other cities throughout the United States via the establishment of branch offices there.

The documentary “The Queen of Versailles,” which followed Siegel, his wife Jackie, and their move to Versailles in the early 1960s, won many awards in 2012. A former owner of the Orlando Predators of arena football, he is now a part of the organization as an advisor.

David Siegel Net Worth
David Siegel Net Worth

What is David A. Siegel’s Net Worth?

American businessman David. A. Siegel has a net worth of $500 million. Siegel established Westgate Resorts, a successful company that sells timeshares, in Florida.

He now holds the positions of president and CEO at the company. During the time that Siegel and his wife Jackie were attempting to construct one of the largest and most expensive homes in US history, in Florida, they were also the subjects of the award-winning documentary “The Queen of Versailles,” which detailed his temporary financial stresses in the wake of the 2008 real estate bubble collapse.  In the next sections, you’ll find much more information on this home and the accompanying documentary.

Early Life of David Siegel

David A. Siegel is a Chicago native now based in Florida. He was born on May 3, 1935. David Siegel was born to Sadelle, a housewife, and grocer Sid Siegel, who relocated the family and their company to Miami when David was 10 years old. After completing high school at Miami Senior in 1935, Siegel enrolled at the University of Miami to study business administration and marketing. There was a change of plans, and he did not complete his degree.

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David Siegel Career

Mystery Fun House, which Siegel helped develop, was an Orlando attraction that first opened on March 29, 1976, and closed in 2001. The 2002 film “Night Terror” was one of his productions. He started the wildly successful Westgate Resorts, Ltd., where he is now president and CEO.

He is the chief executive officer of both Westgate and Central Florida Investments (CFI) Resorts Management (CFIRM). His investing firm is involved in the tourism, transport, retail, telecommunications, and building industries.

Siegel’s net worth once exceeded $1 billion, but the economic downturn of 2008 severely impacted his many different business endeavors. He gained notoriety in 2012 after threatening to dismiss his whole staff in an email chain if President Obama was re-elected. However, he did not act on his threat. In an episode of ABC’s “Celebrity Wife Swap” from 2015, he and actor Jeremy London switched spouses for a week.

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Personal Life of David Siegel

Siegel has eleven children total, nine of his own and two adopted. In 1961, he tied the knot with Geraldine Florence Swanstrom; the couple remained together until 1969. The marriage between Siegel and Betty Tucker began in 1970 and lasted until their 1997 divorce. All the kids were still living with him now.

He wed Jackie Siegel, whom he’d met in 1998, at a Jewish wedding. Victoria Siegel, the 18-year-old daughter of the Siegels, was discovered comatose at the family’s Windermere home in June 2015. She was brought to the hospital, where she was later declared dead. Her death was officially judged a drug overdose, which has made David an outspoken opponent of drug usage.

After a sexual harassment case was filed by ex-Westgate employee Dawn Myers in 2008, David Siegel was found guilty of the charges. A Florida jury first awarded her $5.4 million, but the judge cut the amount down to $610,000. Myers was awarded $506,847 in punitive damages for her allegation of violence under state law, on top of the $103,622 in compensatory damages.

Last Lines

Business tycoon and current CEO/President of Westgate Resorts Ltd in Orlando, Florida, David Alan Siegel is a prominent figure in the American business community. He is the CEO of Central Florida Investments Inc. and CFI Resorts Management Inc.

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