From Rags to Nouveau Riche: A review of The Queen of Versailles
The 2008 financial crisis was the worst since the infamous Great Depression of 1929, the one that ended both fortunes and lives. Florida billionaires David and Jackie Siegel found themselves impacted by the most recent as they began construction on their massive 90,000 square foot home. If completed, it would be the largest private residence in the United States. It is titled, appropriately enough, “ Versailles.” The ironies in this tale are just beginning.
Documentarian Lauren Greenfield was given free access to chronicle the lives of the Siegel’s at the apex of their wealth. She incidentally caught them at the near total collapse of it. In what could be the perfect storm for a film maker, Greenfields timing provides a fascinating view of the lives of the super rich, and it is not a particularly appealing one.
It all begins like a fable. It all turns out like the American Dream pumped on steroids.
David Siegel became a billionaire tycoon in the world of vacation timeshares. Offering luxurious suites to those that could least afford it, he amassed an enormous real-estate empire in the process. Just as his fortunes improved, so has the opulence of his lifestyle.
Dissatisfied with his current residence, and feeling squeezed by the possessions currently filling his current home, Siegel decided to construct a home that is in part inspired by the pleasure palace of King Louis XIV and a Vegas Hotel. It is peculiar mixture of high culture meeting American crassness.
Not unlike the gargantuan Xanadu of Citizen Kane, Siegel and his wife have collected assorted furnishings in mass, including five million dollars’ worth of marble, to create a home that includes every amenity possible. As both a monument to economic success, it is also a drain on the Siegel’s fortunes in that the cost is becoming more stratospheric with the passage of time. In addition, the Siegel’s building in Las Vegas is also placing considerable strain on his resources.
It becomes clear that the Siegels lose whatever shields they may have had and reveal far more of themselves then they may have wished. Subsequently they sued Director Greenfield.
What makes this documentary fascinating is the lack of awareness the Siegels have regarding what they are attempting with the home of their dreams, or even the toll it is taking on a family cracking at the seams from the stress.
David Siegel ultimately blames his circumstances on banks offering easy money. The blame game manages to take all responsibly away from the himself as he paints himself a victim. It never occurs to him that his own avarice could be the culprit. The assumption Siegel made, along with many others, is that cash will always flow freely. When unlimited spending meets deregulated banking, the results are inevitably catastrophic.
While neither Siegel comes off as aware that their own hunger for excess is the cause of their difficulty, they fail to see that their very consumption is wrecking the lives of their family. The children, who seem to be more warehoused than actually raised, are left to navigate the world on their own with little help, aside from a group of hired nannies.
Of the two Siegels, Jackie does seem to have degree of empathy for those suffering when the business winds up leaving hundreds without work. When a relative is in dire need of a home, Jackie Segel opens her own. Jackie does have that redeeming quality. Her husband, on the other hand, resembles every cliché possible regarding the cold hearted businessman more obsessed with money, things and beautiful young women than family or even love. His self-centeredness is as epic as his ultimate dream home. And it is all put painfully on open display.
Queen of Versailles makes its points not in mocking its subjects. It does not have to do that. The subjects of this film do an excellent job of revealing their vanity, entitlement and obliviousness to reality.
This documentary is not simply a cautionary tale, nor is it a condemnation. It is a well-crafted film that subtly states that a life of pleasure and self-indulgence on a grand scale can mean the loss of not only a sense of reality, but a sense of humanity as well.
