There is an article in today's Wall Street Journal titled "The Wild Ride of the 1%". It has a picture of David Siegel's (Westgate Resorts) wife standing on the stairs of their unfinished 90,000 square foot home called "Versailles" in Florida. The ballroom alone is 7,200 SF. The WSJ says they purchased 10 Segways to get around the house. The house is on the market for $75 Million as is, or $100 Million completed. Maybe they should convert it to timeshares.
The Siegel's had to lay off 14 of their 15 maids and their personal chef and pull their children out of private school. The WSJ quotes Siegel that Westgate is "highly profitable" and that demand is still strong. However, the WSJ says he laid off half of his 12,000 employee workforce.
In case you don't already feel sorry for the Siegel's, they apparently had to give up their Gulfstream to the bank and fly commercial like the rest of us. According to the WSJ, on a recent trip, one of their kids asked "[w]hat are all these strangers doing on our plane?"
The Siegel's had to lay off 14 of their 15 maids and their personal chef and pull their children out of private school. The WSJ quotes Siegel that Westgate is "highly profitable" and that demand is still strong. However, the WSJ says he laid off half of his 12,000 employee workforce.
In case you don't already feel sorry for the Siegel's, they apparently had to give up their Gulfstream to the bank and fly commercial like the rest of us. According to the WSJ, on a recent trip, one of their kids asked "[w]hat are all these strangers doing on our plane?"
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