A Florida billionaire has told his employees he could be forced to lay off some of them if U.S. President Barack Obama wins a second term, calling his administration a threat to their jobs.
David Siegel, the owner of Orlando-based Westgate Resorts, the largest privately held time-share company in the world, said in an email to the firm’s 7,000 employees this week that he did not want to influence how they voted.
But he warned that “if any new taxes are levied on me, or my company, as our current President plans, I will have no choice but to reduce the size of this company.”
“You see, I can longer support a system that penalizes the productive and gives to the unproductive,” he continued. “My motivation to work and to provide jobs will be destroyed, and with it, so will your opportunities.”
Siegel, an outspoken businessman known for his flamboyant lifestyle, and his wife were the subjects of a recent documentary called “The Queen of Versailles” which documented their efforts to build what would be the largest privately owned home in the United States - a $100 million, 90,000-square-foot mansion just outside of Orlando.
Siegel confirmed to Reuters on Wednesday that he sent the memo and said it appeared to have been leaked by an employee who did not agree with his politics.
“This was a private memo just addressed to my employees,” he said. “I care about their well-being. I just wanted them to know before they go to vote that if Obama gets re-elected, with the new taxes that he’s going to impose … the company most likely is going to have to downsize.”