David Siegel
2016 THE RICHEST PERSON IN AMERICA’S 50 LARGEST CITIES NET WORTH — as of 1/20/16
$940 M
Orlando’s timeshare king, David Siegel, is back on his way to becoming a billionaire — a feat that seemed nearly impossible during the 2008 financial crisis, when bankers were coming after his over-leveraged Westgate timeshare properties. For a brief time, he also had to stop building the gilded, 90,000 square foot mansion (known as Orlando’s Versailles) for his family. Siegel put it on the market for a while, but it didn’t sell. Now he is building again, and the project is on schedule to finish in 2017. As for the company, Westgate says it is worth more than the $900 million Forbes currently estimates. Analysts say Siegel’s antics would make it hard for investors to trust the company if were publicly traded. Siegel, his former-beauty queen wife and their large family had their past financial troubles chronicled in the documentary, “The Queen of Versailles,” which came out in 2012.
Source:forbes