David Siegel Net Worth 2022: How Did He Become Billionaire?

David Alan Siegel is an American businessman who founded Westgate Resorts Ltd, a Florida-based timeshare company where he serves as president and chief executive officer. He has nine biological children and two adopted children.

He is the CEO of CFI Resorts Management Inc. and Central Florida Investments Inc. and his other businesses include real estate, construction, hotel, and flat management, travel services, insurance, transportation, and retail.

Do you wish to learn David Siegel Net Worth 2022? If that’s the case, you’re in the correct place. Let’s analyze David Siegel’s life and fortune in detail to learn about his success.

David Siegel Early Life: Where Was He Raised?

David A. Siegel was born on May 3, 1935, in Chicago. He currently resides in Florida. His parents, Sadelle and grocer Sid Siegel uprooted the family and their grocery store to Miami when David was 10 years old. Siegel completed his high school education at Miami Senior in 1935, and he went on to earn a business and marketing degree from the University of Miami. He never completed high school.

David Siegel Personal Life: With Whom He Married?

David Siegel Personal Life: With Whom He Married?

Siegel is a proud father of eleven kids, nine of whom are his own and two she adopted. They tied the knot in 1961, and his wife Geraldine Florence Swanstrom stayed by his side until 1969. Siegel and Betty Tucker wed in 1970 and stayed together until their divorce in 1997.

It was always he who had primary custody of the kids. He wed Jackie Siegel in a Jewish ceremony in 2000 after meeting her in 1998. Victoria Siegel, the 18-year-old daughter of the Siegels, was found comatose in the family’s Windermere home in June 2015. She was rushed to the hospital, but sadly she was pronounced dead there. Her death was officially judged a drug overdose, which has made David a vocal opponent of substance misuse.

An ex-Westgate employee named Dawn Myers successfully sued David Siegel for sexual harassment in 2008, and Siegel was found at fault in the case. Her trial in Florida ended with a jury awarding her $5.4 million, but the court ultimately only granted her $610,000. Myers was awarded $506,847 in punitive damages for her allegation of battery under state law, in addition to the $103,622 in compensatory damages.

David Siegel Career: How He Become Rich?

Professional Life Siegel co-founded the Mystery Fun House in Orlando, Florida on March 29, 1976. It was open to the public until 2001. In 2002, he also produced the film Night Terror. He is currently the President and Chief Executive Officer of Westgate Resorts, Ltd., the highly successful timeshare firm he created.

He is the chief executive officer of both Westgate and Central Florida Investments (CFI) Resorts Management (CFIRM). His company has holdings in a variety of industries, including those related to travel, transportation, retail, telecommunications, and building and construction.

When the economic downturn of 2008 hit, Siegel’s net worth plummeted from over a billion dollars. When he infamously promised to terminate his whole staff through email if President Obama was re-elected in 2012, he shot to fame. This threat was not followed through on by him. In 2015, he and actor Jeremy London swapped spouses on the ABC reality show “Celebrity Wife Swap.”

The Queen of Versailles

The documentary “The Queen of Versailles,” directed by Lauren Greenfield, focuses on Siegel and his wife Jackie. The family’s efforts to construct the Versailles house are documented on film, as they aim to become the largest and most expensive single-family home in the United States. The documentary also follows the Siegels as they try to sell off a number of high-value personal possessions and stave off bankruptcy as the U.S. economy collapses. In the film, Siegel struggles but ultimately fails to keep his Las Vegas high-rise resort, the PH Towers Westgate, in his family’s possession.

Before 2008, the couple constructed a mansion inspired by Versailles, France, and it was widely thought to be the largest private residence in the United States. The house is 90,000 square feet and cost over $50 million to build and another $25 million to furnish. In spite of hoping to get between $100 and $150 million for the property, the Siegels had a hard time selling it.

The construction of Versailles continues till September of 2020. Once completed, Versailles will have 14 bedrooms, 32 bathrooms, 11 kitchens, a movie theatre, a roller rink, a bowling alley, a 30-car garage, three levels, and two elevators — including one that is gold — and a slew of other amenities. More than $30 million is expected to be spent on the site.

After filing two lawsuits against the documentary’s creators, the Siegels ultimately prevailed in neither.

David Siegel Net Worth 2022: How Much Wealthy Is He?

David Siegel Net Worth in 2022 is around $500 million dollar.

Entrepreneurial American billionaire David. A. Siegel is a name to know. Westgate Resorts, founded by Siegel in Florida, is an industry leader in the timeshare industry.

He currently holds the position of president and CEO of the company. The documentary “The Queen of Versailles,” chronicles Siegel’s brief financial pressures in the wake of the 2008 real estate bubble collapse, while he and his wife Jackie were planning to build one of the largest and most expensive residences in US history, in Florida, received an award. Towards the end of the post, you’ll find a lot more information on the documentary and the home itself.

David Siegel has not disclosed all of his assets, but his estimated net worth indicates that he has at least some houses, automobiles, and stocks. Therefore, we are unable to put a precise value on his possessions. The fact that David Siegel has amassed a great deal of wealth suggests that he earns more than the typical worker.

However, for reasons of discretion, he has not shared details on how much he earns with the general public. As a result, we are unable to provide a reliable salary projection for him.

Investments, a business, and a salary are all possible ways for David Siegel to bring in money. His annual income varies widely as it is affected by a wide range of economic variables. No matter how hard we look, we just can’t seem to come up with any concrete evidence of his financial standing.