I recently watched the 2012 documentary The Queen of Versailles which details the quest of David and Jacqueline Siegel to built the largest house in the United States. My thoughts on the film:
1. I’ll be honest: I’m disappointed more of the movie isn’t about the house. And, I hope the house is completed just to see what an 85,000 square foot house looks like.
2. The film ends up being a lot more about what happens when a wealthy person/family suddenly sees that money disappears. This is an interesting story in itself. How do they adjust? How much of their behavior really changes? Even if they say they can readjust to a lower income, which is closer to what they grew up with, it appears this is is a really hard process. This reminds me of recent research suggesting people feel losses more strongly compared to equal gains.
3. Jackie is a somewhat sympathetic character but David Siegel is the one to watch here. His mood gets darker and darker as his financial prospects dim. I felt sorry for him; he freely admits at several points that he can’t separate his family and work and it shows in how he lives. Is this what trying to hold on to money looks like? If so, it doesn’t look attractive at all.
4. The film does address at various points who is responsible for the situation the Siegels are in: banks who made money easily available or people who got addicted to this easy money? But, the film doesn’t go far enough in trying to resolve this. It would be interesting to see banks or financial institutions interviewed on this particular case, or even more broadly, to get their side. We see the personal fallout of the problem as the Siegel family tries to recover but the film only hints at the bigger picture.
While this is an interesting story, I wonder: if the outlandishly large house was not involved, how different is this from a number of reality shows or films about wealthy people? In the end, I do think the family is pretty honest about the changes they are experiencing and perhaps it is this authenticity that sets this documentary apart.
(Note: critics like the film. On RottenTomatoes, 98 out of 103 reviews were fresh.)