David A. Siegel, the American entrepreneur and founder of Westgate Resorts, had an estimated net worth of $500 million at the time of his death in April 2025. Best known for building one of the largest privately owned timeshare empires in the world, Siegel was a controversial and fascinating figure in American business history.
From his early beginnings in real estate to starring in the widely viewed documentary The Queen of Versailles, Siegel’s story is a modern-day epic of ambition, opulence, risk-taking, and resilience. In this in-depth guide, we break down David Siegel’s net worth, how he built his fortune, the challenges he faced during the 2008 financial crash, and the personal legacy he leaves behind.
Early Life and Education
David Alan Siegel was born on May 3, 1935, in Chicago, Illinois, to Sadelle and Sid Siegel. In the mid-1940s, the family relocated to Miami, Florida, where Siegel’s father operated a small grocery business.
Siegel graduated from Miami Senior High School and briefly attended the University of Miami, studying marketing and management. Though he did not graduate, his keen interest in business and real estate laid the foundation for his future as a high-powered entrepreneur.
The Genesis of a Business Empire
Entry into Real Estate
In the 1970s, David Siegel began his career in real estate and quickly found success in residential development and sales. By the mid-1980s, he shifted his focus to the timeshare industry, seeing immense potential in vacation ownership models that targeted middle-class families looking for affordable, resort-style vacations.
Founding Westgate Resorts
In 1982, Siegel founded Westgate Resorts, starting with a single property near Walt Disney World in Orlando. Under his leadership, Westgate evolved into one of the largest privately-owned timeshare companies in the United States. The company’s innovative marketing strategies—such as free tours, discounted vacations, and hard-sell tactics—helped it expand rapidly.
By the early 2000s, Westgate operated over 25 resorts nationwide, from Las Vegas to Park City and Gatlinburg, Tennessee. Siegel’s business model emphasized aggressive sales, leveraging credit options for buyers and a high-volume pipeline of customers.
Diversification and Business Expansion
In addition to Westgate Resorts, Siegel controlled several other companies under the umbrella of Central Florida Investments Inc., including:
- Hotel and resort management firms
- Travel services companies
- Retail outlets
- Construction and real estate development businesses
- Telecommunications services
These diversified holdings contributed significantly to David Siegel’s net worth, which peaked at an estimated $1 billion during the real estate boom of the mid-2000s.
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The Financial Crisis and Its Aftermath
The 2008 global financial crisis severely impacted the hospitality and timeshare industries. As credit dried up and consumers cut back on discretionary spending, Westgate Resorts struggled to maintain its revenue streams.
At one point, the company was forced to lay off over 1,000 employees, halt construction on several properties, and even sell off its stake in high-profile assets like the PH Towers Westgate in Las Vegas.
Siegel himself admitted in interviews that the crisis brought him to the brink of financial ruin, although he managed to recover over time. By 2013, business had begun to stabilize, and construction on previously halted projects, such as the Versailles mansion, resumed.
The Queen of Versailles Documentary
David Siegel and his wife Jackie Siegel became household names following the release of the 2012 documentary “The Queen of Versailles,” directed by Lauren Greenfield. The film chronicles the couple’s attempt to build “Versailles”—a 90,000-square-foot mansion in Windermere, Florida, inspired by France’s Palace of Versailles.
The documentary follows their opulent lifestyle, massive construction project, and the devastating impact of the 2008 recession on their finances. It also explores themes of wealth, consumerism, and ambition in America.
Siegel initially sued the filmmakers for defamation, claiming misrepresentation, but lost both lawsuits. Ironically, the film enhanced his public profile and introduced Westgate Resorts to an even wider audience.
Versailles Mansion: A Symbol of Excess and Determination
Features of the Mansion
Siegel’s Versailles mansion became an icon of American luxury—both praised and criticized for its sheer scale and extravagance. Still under construction over two decades later, the mansion includes:
- 14 bedrooms
- 32 bathrooms
- 11 kitchens
- 3 indoor pools
- 2 outdoor pools
- A bowling alley and roller rink
- A baseball field
- A 30-car garage
- A 10,000 sq ft fitness center with spa
- A two-story movie theater
Construction halted during the financial crisis but resumed years later, with Jackie Siegel taking the lead. As of 2025, the home remains unfinished, but it stands as a monument to Siegel’s vision and ambition.
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Real Estate Investments
Outside of Florida, Siegel’s real estate portfolio included high-value properties such as:
- A duplex penthouse in Tribeca, New York, purchased for $8.7 million in 2023 and listed for $19.5 million in early 2024
- Several luxury vacation properties tied to Westgate’s resort locations
These investments, combined with his business interests, formed a substantial portion of David Siegel’s net worth and post-crisis recovery strategy.
Controversies and Legal Issues
David Siegel was no stranger to public controversy:
1. Political Email Scandal (2012)
During the 2012 presidential election, Siegel emailed his employees warning that an Obama re-election could force him to lay off workers. The incident drew media criticism but had no legal consequences, and Siegel later stated he had no intention of acting on the threat.
2. Sexual Harassment Lawsuit (2008)
A former Westgate Resorts employee, Dawn Myers, sued Siegel for sexual harassment. After a Florida trial, she was initially awarded $5.4 million, though the judge later reduced the sum to $610,000. The case damaged Siegel’s reputation but did not significantly impact his business.
Personal Life and Tragedy
David Siegel had 11 children—nine biological and two adopted—from three marriages.
His third and final wife, Jackie Siegel, became a public figure in her own right following The Queen of Versailles. The couple were often featured in media outlets for their lavish lifestyle and philanthropic work.
Tragedy Strikes
In June 2015, their 18-year-old daughter Victoria Siegel tragically died of a drug overdose. Her death led to a dramatic shift in the Siegels’ priorities.
They launched the Victoria’s Voice Foundation, dedicated to fighting teen drug addiction and increasing awareness of opioid abuse.
Advocacy Work
Since its founding, the Victoria’s Voice Foundation has:
- Played a role in the Comprehensive Addiction and Recovery Act of 2016
- Helped establish National Naloxone Awareness Day
- Published “Victoria’s Voice”, a book based on Victoria’s diary
Through these efforts, the Siegels have reportedly reached over 1 million families with educational and support programs.
Death and Legacy
Passing and Tributes
David Siegel died on April 5, 2025, at the age of 89, at his Florida home. Though no official cause of death was released, reports suggested he had been battling cancer.
Following his death, tributes from business leaders, public officials, and former employees highlighted:
- His role in pioneering the modern timeshare industry
- His philanthropic work in addiction awareness
- His unique impact on American business culture
Westgate Resorts Today
As of 2025, Westgate Resorts continues to operate successfully, now led by members of Siegel’s executive team and family. The company still owns and manages over two dozen resort properties, maintaining its position as a leader in the vacation ownership space.
Net Worth Breakdown
At the time of his death, David Siegel’s net worth was approximately $500 million. Here’s a breakdown of how his wealth was structured:
| Asset/Source | Estimated Value |
|---|---|
| Westgate Resorts Equity | $250 million |
| Real Estate (Versailles, NYC) | $100 million |
| Other Investments & Holdings | $80 million |
| Personal Assets (cars, art, etc.) | $20 million |
| Cash and Liquid Assets | $50 million |
| Total Estimated Net Worth | $500 million |
Conclusion
David Siegel’s net worth of $500 million at the time of his death underscores a career marked by innovation, extravagance, and resilience. From humble beginnings in Miami to becoming the face of one of America’s largest timeshare empires, Siegel left behind more than just wealth—he left a powerful, controversial legacy in both business and philanthropy.
While critics questioned his lifestyle and business practices, few can deny the impact he had on the vacation ownership industry, or the awareness he brought to addiction prevention through the Victoria’s Voice Foundation.
As his family and company carry on his vision, David Siegel remains a defining figure in American entrepreneurial history.
FAQs
What was David Siegel’s net worth?
At the time of his death in 2025, David Siegel’s net worth was estimated at $500 million.
Who owns Westgate Resorts now?
Westgate Resorts remains a privately held company, managed by Siegel’s successors and executive team, including members of his family.
Is the Versailles mansion complete?
As of 2025, the Versailles mansion remains partially completed, though major progress has been made under the direction of Jackie Siegel.
What caused David Siegel’s death?
No official cause of death was confirmed, but reports suggest he had been battling cancer in the months leading to his passing.
What is the Victoria’s Voice Foundation?
Founded after the tragic death of his daughter, the Victoria’s Voice Foundation is focused on teen drug prevention and opioid awareness across the U.S.
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