David Siegel, whose Westgate Resorts manages properties in Park City and 22 other locations nationwide, told his 7,000 employees he’ll have to lay some of them off, or close his company’s doors permanently if Obama wins the election, according to CNBC.
"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," Siegel wrote in an open email to his employees.
Siegel also owns the largest new home in America, “Versailles”, which went into foreclosure, according to CNBC.
After cutting back on expenses, Siegel was able to settle up with his lenders, pay off his home, establish a retirement fund and has enough leftover for his kids’ inheritances, Siegel told CNBC.
In the email, Siegel attributed his success to 42 years of working hard while living within his means.
Siegel closed the email by telling employees he may retire to the Caribbean if the president is reelected.