Net Worth Ranker
What Is David Alan Siegel’s Net Worth?
David A. Siegel, an American entrepreneur renowned for his ventures in the timeshare industry, boasts a net worth of $500 million as of 2025. This substantial wealth primarily stems from his role as the founder, president, and CEO of Westgate Resorts, a Florida-based timeshare resort giant. Siegel’s entrepreneurial journey and financial experiences, including temporary setbacks during the 2008 real estate crisis, have been chronicled in the award-winning documentary “The Queen of Versailles.”
Early Life and Career Beginnings
Born on May 3, 1935, in Chicago, Illinois, David A. Siegel’s early life was marked by his family’s relocation to Miami when he was ten years old. His father, Sid Siegel, operated a grocery business that served as the family’s livelihood. David pursued higher education at the University of Miami, focusing on management and marketing, although he did not complete his degree. Siegel’s early entrepreneurial endeavors included co-founding Mystery Fun House, a popular Orlando attraction that entertained visitors from March 29, 1976, until its closure in 2001. In 2002, he also ventured into film production with the movie “Night Terror.”
Siegel’s career trajectory took a significant turn with the establishment of Westgate Resorts, Ltd., a timeshare company that achieved considerable success under his leadership. In addition to his role at Westgate, Siegel holds the position of CEO at Central Florida Investments, Inc., and Central Florida Investments Resorts Management, Inc. His investment company has diverse interests across various sectors, including travel services, transportation, retail, telecommunications, and construction.
Westgate Resorts and Financial Fluctuations
Westgate Resorts, the cornerstone of David A. Siegel’s wealth, has grown into one of the largest privately-held timeshare companies in the United States. The company operates numerous resorts across the country, offering vacation ownership opportunities to thousands of families. While Westgate Resorts has experienced significant growth and success, David A. Siegel’s financial fortunes have also been subject to fluctuations. During the peak period of 2004-2007, his estimated paper net worth reached approximately $1 billion. However, the 2008 financial crisis had a severe impact on his various business ventures, leading to financial challenges that were documented in “The Queen of Versailles.”
In 2012, Siegel made headlines when he sent an email to his employees, suggesting potential job losses if President Obama was re-elected. Although the email sparked controversy, Siegel did not follow through on the threat. In 2015, he participated in the ABC reality series “Celebrity Wife Swap,” where he exchanged lives with actor Jeremy London. These events contributed to Siegel’s public profile and offered insights into his personal life and beliefs.
“The Queen of Versailles” Documentary
David A. Siegel and his wife, Jackie Siegel, gained widespread attention as the subjects of Lauren Greenfield’s documentary, “The Queen of Versailles.” The film provides an intimate look into the couple’s lives as they embark on the construction of Versailles, a 90,000-square-foot mansion modeled after the Palace of Versailles in Windermere, Florida. The documentary also captures the financial challenges the family faced during the U.S. economic downturn, as they struggled to maintain their lifestyle and business empire. The Siegels’ efforts to sell various assets to mitigate debt and retain ownership of Westgate’s Las Vegas high-rise resort, the PH Towers Westgate, are chronicled in the film. The Siegels subsequently filed two lawsuits against the filmmakers, but both were unsuccessful.
Versailles Mansion: A Symbol of Ambition and Excess
The Versailles mansion, a sprawling estate in Windermere, Florida, has become synonymous with the Siegels’ ambition and penchant for luxury. Planning for the home began in 2004, when David A. Siegel’s timeshare business was thriving, and his estimated net worth was approaching billionaire status. Siegel envisioned Versailles as the largest single-family home in America, a testament to his success and aspirations. Construction commenced in 2006, with the aim of creating a palatial residence featuring 14 bedrooms, 32 bathrooms, 11 kitchens, a roller rink, an ice skating rink, a bowling alley, a 30-car garage, three levels, three indoor pools, two outdoor pools, two tennis courts, a baseball diamond, a fitness center with a 10,000-square-foot spa, and a two-story movie theater.
However, the 2008 financial crisis brought a halt to construction, leaving the unfinished Versailles as a symbol of dashed hopes and economic uncertainty. As the Siegels’ finances improved, construction resumed, with Jackie Siegel taking a more active role in the project. The Versailles house has been under construction for over 20 years, with an estimated cost exceeding $100 million. The project’s scale and opulence have drawn both admiration and criticism, making it a notable example of American extravagance in residential architecture.
NYC Penthouse and Real Estate Investments
In 2023, Jackie and David Siegel expanded their real estate portfolio with the purchase of an $8.7 million duplex in NYC’s Tribeca neighborhood. The unit, located at [Specific Address if available, otherwise omit], features [mention key features like square footage, number of rooms, views if known]. In January 2024, they listed this property for sale at $19.5 million, indicating a potential profit of $10.8 million. The sale reflects their ongoing investment strategies in high-end real estate markets. This investment showcases diversification outside of Westgate Resorts and their Florida-based assets.
Personal Life and Tragedies
David A. Siegel has a large family, with nine biological children and two adopted children. He has been married three times. His first marriage to Geraldine Florence Sanstrom lasted from 1961 to 1969. From 1970 to 1997, he was married to Bettie Tucker, and he remained the custodial parent of all the children from both marriages. He met his third wife, Jackie Siegel, in 1998, and they married in a Jewish ceremony in 2000.
In June 2015, the Siegels experienced a devastating tragedy when their 18-year-old daughter, Victoria Siegel, was found unresponsive at their home in Windermere. Her death was ruled a drug overdose, which prompted David A. Siegel to become a vocal advocate against drug abuse. He has since supported various initiatives aimed at preventing drug-related deaths and raising awareness about the dangers of substance abuse.
Legal Issues and Sexual Harassment Lawsuit
In 2008, David A. Siegel faced legal repercussions in a sexual harassment lawsuit brought by Dawn Myers, a former Westgate employee. After a trial in Florida, the jury initially awarded her $5.4 million, but a judge later reduced the award to $610,000. The reduced award included $103,622 in compensatory damages and $506,847 in punitive damages related to her battery claim under state law. The lawsuit brought attention to workplace conduct within Westgate Resorts and the legal challenges associated with sexual harassment claims.
Luxury Assets and Lifestyle
While specific details about David Siegel’s private jet or luxury car collection are not publicly available, it is reasonable to assume that, given his net worth, he likely possesses significant assets in these categories. Owners of similar net worth often have a private jet such as a Gulfstream G650, which is priced around $70 million, or a Bombardier Global 7500, which costs approximately $75 million. These jets offer long-range capabilities and luxurious amenities.
Regarding automobiles, high-net-worth individuals often own a collection of luxury vehicles, including brands like Rolls-Royce, Bentley, Ferrari, and Lamborghini. A Rolls-Royce Phantom can cost upwards of $500,000, while a Ferrari 488 Spider can be priced around $300,000. A Bentley Continental GT could cost $200,000 or more, and a Lamborghini Aventador could reach prices exceeding $400,000. The exact makes and models owned by Siegel are not publicly known but are expected to be commensurate with his financial status.
Real Estate Portfolio Beyond Versailles
While the Versailles mansion is the most well-known real estate holding of David and Jackie Siegel, their overall portfolio likely includes additional properties. It is common for high-net-worth individuals to invest in multiple properties for various purposes, such as rental income, vacation homes, or investment opportunities. Specific details about these additional properties are not publicly available. Additional details on properties can be obtained via local county and tax public records.
Community Involvement and Philanthropy
Details regarding David Siegel’s direct involvement in philanthropic activities and community initiatives are not readily available in the provided source material. Philanthropic endeavors of business leaders often include donations to charitable organizations, educational institutions, and community development projects. While the specific details are unknown, it is common for individuals with significant net worth to engage in charitable giving to support various causes and organizations.
