David Siegel Net Worth 2022 – Salary, Income, Wives

David Siegel Net Worth

David Siegel has an estimated net worth of $500 million. David Alan Siegel is the founder and current CEO and president of Westgate Resorts Ltd, a Florida-based timeshare resort company.

He is also the President and Chief Executive Officer of CFI Resorts Management Inc. and Central Florida Investments Inc. Real estate, construction, hotel and apartment management, travel services, insurance, transportation, and retail are among his other endeavors.

Siegel was born in Illinois but reared in Florida. He attended Miami Senior High School before going on to study business and management at the University of Miami. He did, however, eventually drop out of school. Siegel founded CFI in his family garage in 1970.

In 1982, he launched the Westgate line of resorts with the opening of Westgate Vacation Villas, a 16-unit complex. Since then, the organization has established branches in 28 other states around the country. ‘The Queen of Versailles,’ an award-winning documentary film, was filmed about Siegel, his wife Jackie, and their Versailles home in 2012.

He previously owned the Orlando Predators, an arena football franchise.

To calculate the net worth of David Siegel, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets.

All debts, such as personal loans and mortgages, are included in total liabilities. 

Name: David Siegel
Net Worth: $500 Million
Monthly Salary: $1 Million
Annual Income: $20 Million
Source of Wealth: Businessman

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Early Life

David A. Siegel was born on May 3, 1935, in Chicago, Illinois, USA, to Sadelle and Sidney “Sid” Siegel. His father was a grocery store owner. Sid Siegel moved his family and business to Miami in 1945.

David grew up in Florida with his brother Barry, where he attended Miami Senior High School. After graduating from high school in 1953, he enrolled at the University of Miami to pursue a degree in marketing and management. He eventually dropped out and began working.

Career

David A. Siegel founded CFI, a real estate development corporation, in his family garage in 1970. Twelve years later, the Westgate family of resorts was established with the establishment of Westgate Vacation Villas, a 16-unit complex. Westgate Lakes Resort & Spa first opened its doors in 1996. Westgate Towers was built a year later.

In 1999, Siegel opened Westgate Town Center and Westgate Smoky Mountain Resort & Spa; in 2001, Westgate Flamingo Bay; in 2002, Westgate Blue Tree Resort, Westgate Park City Resort & Spa, and Westgate River Ranch; and in 2003, Westgate Palace and Westgate Historic Williamsburg. Westgate Resorts currently has approximately 13,500 villas spread throughout 28 full-service resorts.

The Orlando Business Journal recognized Siegel CEO of the Year in 2014. Westgate Smoky Mountain Resort suffered extensive fire damage in 2016 and was forced to close for an extended length of time.

In June 2018, Siegel purchased the old Hilton New York Grand Central, located in Midtown Manhattan’s East Side’s historic Tudor City neighborhood, and renamed it Westgate New York Grand Central.

Siegel and several others founded the Orlando-based attraction Mystery Fun House, which opened on March 28, 1976. It remained open until 2001. The MFH was used in the production of Siegel’s 2002 film ‘Night Terror.’

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Controversies & Scandals

David A. Siegel, a lifelong Republican, was an ardent supporter of George W. Bush during the 2000 US elections and aggressively campaigned for him. Whenever he uncovered a bad item about Bush’s Democratic opponent, Al Gore, he distributed it to his 8000 employees with their paychecks.

If an employee supported Bush, the employer assisted him or her in registering to vote. Bush was elected with 527 votes in Florida. Siegel claims that he persuaded 1,000 of his employees to vote who would not have otherwise.

During the 2012 US elections, Siegel sparked outrage and public debate when he invited his staff to vote for Republican candidate Mitt Romney in a mass email. He wrote that if they did not, he could have to take serious actions, such as reducing the company’s employees. He raised the company’s minimum wage to $10 per hour in 2015.

Siegel was sentenced to pay $610,000 to former Westgate employee Dawn Myers in 2008 after a jury found him guilty in Myers’ sexual harassment complaint. The Eleventh Circuit Court of Appeals dismissed an appeal and cross-appeal, upholding the trial court’s decision.

The Queen of Versailles

The documentary ‘The Queen of Versailles,’ about David, his current wife Jackie, and their Versailles house, a 90,000-square-foot (8,400-square-metre) residential construction project in Florida, was released in 2012. The film portrays Siegel and his family in an unfavourable light, prompting the hotel magnate to sue the creators in vain.

Personal Life & Wives

David A. Siegel is a devout Jew. In his life, he has been married three times. Geraldine Florence Sanstrom, to whom he was married from 1961 to 1968, was his first wife. Steven, Valerie, and Richard are their three children.

He tied the knot with Bettie Irene Tucker in 1970. Susan “Stacey” Siegel is their daughter’s name. Siegel relocated to Orlando around this time. Tucker and he split up in 1997. He was the only guardian of his children.

Jacqueline “Jackie” Mallery, his third and current wife met in 1998. They married in a Jewish ceremony in 2000. Jackie, on the other hand, is not Jewish.

Victoria (born in 1996), David (1997), Daniel (2001), Debbie (2002), Drew (2004), and the twins Jacqueline and Jordan were their seven children (2007). They also have a daughter named Jonquil Peed. Victoria, their daughter, died of a heroin overdose in 2015.

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David Siegel Quotes

I have enough money for the rest of my life and enough to leave a good inheritance for our kids.

David A. Siegel

 

I haven’t bought a yacht or an island or even a palm tree.

David A. Siegel

 

Business is at the heart of America and always has been.

David A. Siegel

 

I was making so much money I didn’t care. I didn’t know what to do with the money.

David A. Siegel

 

Lots of small business men have been contacting me to say they wish they had the nerve to say what I said.

David A. Siegel

 

I wanted to let my employees know what will come if they make the wrong choice. They need to worry if Obama gets reelected.

David A. Siegel

 

The campaign commercials don’t tell you anything.

David A. Siegel

 

The United States is like a big company, and we need a CEO to run it.

David A. Siegel

 

I’m not optimistic.

David A. Siegel

 

I doubt if there will ever be another Republican president in my lifetime.

David A. Siegel

 

The combination of Obamacare and taxes would be a disaster.

David A. Siegel

 

I can’t tell anyone to vote.

David A. Siegel 

View our larger collection of the best David Siegel quotes. 

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