Billionaire David Siegel's Unfinished 'Versailles' Mansion in Florida to Resume Construction

Just when we thought America's "Versailles" would remain a sad, abandoned skeleton of a mansion forever, billionaire David Siegel has announced that he will resume construction on his unfinished "passion project" after all, Curbed reported. Construction of the mansion, which was slated to be America's biggest private home, had previously stalled when the global financial crisis hit.

A documentary based on the project, called "The Queen of Versailles," followed the construction of the home and the decision to sell it -- unfinished -- after Siegel found himself suddenly wracked with debt. However, despite several million-dollar price cuts, the Versailles mansion never sold. Now Siegel tells "The Today Show" that work on the mega-mansion is "back on track." When it will be completed is unclear, but Siegel's wife, Jackie (the "Queen of Versailles" herself), seems pretty keen to finish it already.

If the Versailles mansion is completed, the 90,000-square-foot home will feature 10 kitchens, 30 bathrooms, a 7,200-square-foot ballroom big enough for 500 people, a roller skating rink, bowling alley, 30-car garage, three pools and two tennis courts. Needless to say, we'll be keeping an eye on this one. Stay tuned.

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Reader Comments (9)

by dasphx - February 27th 2013 @ 11:33AM

obviously WAY more $$$ than common sense....absolutely ridiculous!

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by Robert - February 27th 2013 @ 1:06PM

He'll need Blackwater to secure it when TSHTF. Wealth transfer can't last forever

by thomas31093 - March 2nd 2013 @ 7:58PM

Just goes to show you can have money and no taste. That house is rediculous.

by Alicia - March 3rd 2013 @ 5:18PM

I saw this documentary and clearly the financial crisis taught him nothing. His lifestyle was financed by credit, not money in the bank. He admitted to having nothing saved. Not even college funds for his 8 kids with recent wife Jacquie because they didn't think the kids would need to go to college to "be" anything because they already had so much money.

This Versailles mansion is obscene as a single family home. He should turn it into an event center and rent the rooms for meetings, parties, events; maybe make office space out of some of it. Or invite in a gallery to take some space....but as a home for one family? That's a tremendous waste of money. But after seeing the documentary, wasting money seems to be what this family does best.

by HAP - March 15th 2013 @ 5:44PM

You obviously didn't see the movie or know what your talking about. He had EVERYTHING he owned payed for in cash but like a true businessman, or idiot depending on where you fall, invested all he had in PH WESTMORE. That obviously didn't work out so well but like anything in business if there were no risk there wouldn't be a reward. He might have gotten burned and it was a seriously humbling lesson for a man like that but who cares he's finishing his American Dream. America is about picking yourself up from your bootstraps and that is exactly what David has done. I'm sure he will be less caviler than he originally was but good for him. I'd love to congratulate him on making it all happen again. Some people ask why, others ask why not?

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by pw - March 24th 2013 @ 5:18AM

Too bad he is such a jerk to his own family

by Cigi - April 30th 2013 @ 3:10PM

I watched this thing twice and came away with the conclusion that he is nothing but a CON artist and his wife is a big-busted, blond bimbo! Their kids are being raised to be waited on and can't even clean up dog poop and pee on the floor...disgusting. He and she are a couple of superficial dingdongs with a big case of the "me's". As for his enterprises, he overleveraged his holdings and thought the free money from the bank was going to flow forever. It is great to see the Bankers CON one of their own kind!

by kim - May 3rd 2013 @ 12:42AM

He is a FUCKING SHYSTER who will end up in HELL.

by Eva - May 6th 2013 @ 9:59PM

I watched it and I think it should be turned into a fabulous glitzy bed and breakfast for paying customers. I would love to spend the night there and be willing to pay Disney prices while I'm there. Leave the dogs at the other house because that was gross! I think the wife has ruined the whole family with her high end spending habits and easy going attitude. She has no real values to teach them while he buys a candy bar in remembrance of his mom. She buys another bike while the entire car garage is filled with bikes! Who knows how many family pets died because nobody was in charge of caring for the family pets. Even with all of those house keepers there.

9 Comments / 1 Pages