David Alan Siegel (born May 3, 1935) is an American businessman, founder, president, and CEO of Westgate Resorts Ltd, a Florida-based timeshare company. He also leads CFI Resorts Management Inc and Central Florida Investments Inc, with businesses in real estate, construction, hotels, travel, insurance, transportation, and retail.
Siegel and his wife Jackie were featured in the 2012 documentary “The Queen of Versailles” and the 2024 stage musical. He owned the Orlando Predators, Cocoa Beach Pier, and Las Vegas Hotel.
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Table of Contents
David Siegel Net Worth
David A. Siegel has a net worth of $500 million. In 2023, he and Jackie Siegel bought a duplex in NYC’s Tribeca for $8.7 million and listed it in 2024 for $19.5 million.
Known for their opulent mansion in Windermere, Florida, modeled after the Palace of Versailles, the project began in 2004, during the peak of David’s timeshare business empire.
The mansion, covering 90,000 square feet, began primary construction in 2006, becoming a symbol of American excess in residential architecture.
Early Life
David A. Siegel was born on May 3, 1935, in Chicago, Illinois, to Sadelle and Sid Siegel, a grocer who relocated the family and their business to Miami when David was ten. He graduated from Miami Senior High School and later studied management and marketing at the University of Miami, though he did not complete his degree.
Career
David A. Siegel co-founded Mystery Fun House, an Orlando attraction that operated from 1976 to 2001. He produced the 2002 film “Night Terror” and founded Westgate Resorts, Ltd., serving as its President and CEO.
He also leads Central Florida Investments, Inc. and CFI Resorts Management, Inc., with ventures in travel, transportation, retail, telecom, and construction. At his peak (2004-2007), his net worth reached $1 billion, but the 2008 financial crisis hit hard. In 2015, he appeared on ABC’s “Celebrity Wife Swap” with Jeremy London.
Personal Life
David A. Siegel has nine biological children and two adopted children. He married Geraldine Sanstrom (1961-1969), then Bettie Tucker (1970-1997), retaining custody of their children. In 2000, he married Jackie Siegel in a Jewish ceremony. Their daughter Victoria, 18, passed away in 2015.
In 2008, Siegel lost a sexual harassment lawsuit filed by Dawn Myers, a former Westgate employee. A jury awarded her $5.4 million, later reduced to $610,000, including $103,622 compensatory and $506,847 punitive damages.
What was the cause of death for Victoria Siegel?
Victoria Siegel, the Siegel family’s oldest daughter, tragically passed away on June 6, 2015, due to an accidental drug overdose. She was 18 years old at the time, and the overdose involved a combination of methadone and antidepressants. This heartbreaking loss led the Siegel family to focus on raising awareness about the ongoing opioid crisis.
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Conclusion
David Siegel’s journey in building a kingdom of wealth is a story of innovation, resilience, and adaptation. His contributions to the fields of computer science and finance, coupled with his entrepreneurial spirit, have not only amassed him a significant fortune but also positioned him as a thought leader in the intersection of technology and society.
FAQs about David Siegel’s Net Worth
- What are some of David Siegel’s contributions to computer science? Siegel’s work in computer science includes developing thermal and tactile sensors for robotic hands and contributions to artificial intelligence at MIT.
- What are Two Sigma Investments known for? Two Sigma is renowned for its scientific approach to investing, utilizing data science, artificial intelligence, and technological innovation in financial strategies.
- What is the focus of Siegel’s writings and speeches? Siegel frequently addresses the impact of machine learning and AI on society, the future of work, and the ethical implications of algorithms used by tech companies.
- How has Siegel’s personal tragedy influenced his advocacy work? The loss of his daughter to a drug overdose has motivated Siegel to actively advocate against drug abuse, reflecting his commitment to societal well-being.
- What role does Siegel play in promoting employee innovation at Two Sigma? Siegel encourages Two Sigma employees to engage in external engineering challenges and coding competitions, fostering a culture of innovation and continuous learning within the company.
