American real estate tycoon and businessman David Siegel gained notoriety as the creator and CEO of Westgate Resorts, one of the biggest vacation ownership firms in the world. Born on May 3, 1935, Siegel made a lot of money from his timeshare business endeavors.
His career has been characterized by both achievements and setbacks, most notably when Westgate encountered issues amid the 2008 financial crisis.
Siegel is still a prominent player in the real estate industry thanks to his strategic business acumen and entrepreneurial zeal. His net worth also illustrates the durability and adaptability that have defined his career in the commercial world.
David Siegel Net Worth
The American entrepreneur David A. Siegel is worth $500 million. Siegel is well-known for having started the Florida-based timeshare resort company Westgate Resorts. He is the company’s president and chief executive officer.
The critically acclaimed documentary “The Queen of Versailles,” which followed Siegel and his wife Jackie as they attempted to construct one of the most extravagant and expansive homes in US history, also focused on the couple and their “Versailles” home in Florida.
It also described his brief financial hardships following the collapse of the 2008 real estate bubble. Later in the piece, there are more facts about this property and documentary.
David Siegel’s Early Life
David A. Siegel, a Florida resident, was born in Chicago on May 3, 1935. David was born to Sadelle and Sid Siegel, a grocery store owner who, when he was eleven years old, relocated the family and their business to Miami.
After completing his studies at Miami Senior High School in 1935, Siegel went on to study marketing and management at the University of Miami. He ultimately chose not to graduate.
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David Siegel’s Personal Life
Born in Chicago, Siegel was the son of wealthy Jewish parents, Sadelle and Sid Siegel, a grocery store owner who relocated the family and business to Miami in 1945. Born and raised in Florida, Siegel attended Miami Senior High School in 1953 before deciding to drop out of the University of Miami to pursue his studies in marketing and management.
Siegel wed Geraldine Florence Swanstrom in March 1961. Three children were born to the couple: Richard, Valerie, and Steven. In 1968, their marriage came to an end. After being married to Betty Tucker in 1970, Siegel relocated from Miami to Orlando and had a daughter named Susan.
He continued to be the child’s custodial parent after their 1997 divorce. In 1998, he got married to Jackie Siegel. Additionally, they were married in a Jewish ceremony even though she was not Jewish.
A total of eight kids, including Jonquil, Jackie’s adoptive niece, were raised by the couple. The twins, Jordan and Jacqueline, as well as Victoria, David, Daniel, Debbie, and Drew, are their other offspring.
David Siegel’s Career
One of the creators of the Mystery Fun House attraction in Orlando, which ran from March 29, 1976, until January 1, 2001, was Siegel. In 2002, he made “Night Terror” as well. He is the current president and chief executive officer of the highly successful timeshare company Westgate Resorts, Ltd., which he created.
He is the CEO of Central Florida Investments, Inc. and Central Florida Investments Resorts Management, Inc., in addition to his employment with Westgate. His investing firm is involved in retail, telecommunications, construction, travel services, and transportation.
At one point, Siegel’s net worth exceeded $1 billion, but the 2008 financial crisis had a negative impact on all of his commercial endeavors. He gained notoriety in 2012 when he promised to dismiss every employee in an email if President Obama was re-elected.
He made no move to carry out his threat. He made an appearance on the 2015 season of ABC’s reality series “Celebrity Wife Swap,” in which he and actor Jeremy London exchanged lives.