Who Is Robert Siegfried? The Accountant Behind the University of Delaware’s $71.5M Donation

Robert L. Siegfried Jr., a successful businessman and proud University of Delaware graduate, has pledged a massive $71.5 million donation to his alma mater. This gift, one of the largest in the university’s history, will help build Siegfried Hall and launch the Siegfried Institute for Leadership and Free Enterprise.

But many are asking: How did an accountant become wealthy enough to make such a huge donation?

Humble Beginnings

Siegfried, now 66, was raised in Claymont, Delaware, the same town where President Joe Biden’s family once lived. His father was a machinist at DuPont, earning just $3.10 an hour. From a young age, Siegfried learned the value of hard work and discipline.

He studied economics at the University of Delaware, later adding accounting to his degree to find a job. After graduating, he joined Arthur Young & Co., which later became part of Ernst & Young.

Building His Own Firm

In 1988, Siegfried left his job to start his own firm — now known as The Siegfried Group and Siegfried Advisory. He started small, borrowing $50,000 and working long hours. By 1994, his company made $2 million in revenue.

Siegfried focused on “talent delivery services”— supplying skilled accountants to big firms like DuPont, especially during major projects and audits. This model became very popular after the Sarbanes-Oxley Act increased demand for external audit help in the early 2000s.

By 2007, his company’s revenue topped $80 million. Despite setbacks during the 2008 financial crisis and COVID-19 pandemic, the business bounced back. By 2020, it made over $300 million annually.

Strategy and Growth

Siegfried expanded the firm across the U.S., opening 19 offices and offering services like IPO prep and forward-looking financial advice. Unlike traditional accountants, Siegfried’s firm branded itself as advisors, not just number crunchers.

He gained business wisdom from top names like Jim Davis (Allegis Group and Baltimore Ravens co-owner) and Byron Trott, Warren Buffett’s trusted banker.

In 2021, Citizens Financial estimated his business was worth $750 million. A few years later, it was valued at $1.2 billion. Siegfried and his wife owned 60% of the company, making their share worth around $720 million.

Giving Back to Delaware

Inspired to leave a legacy, Siegfried chose to give back to the University of Delaware. His $71.5 million gift will help build new business classrooms, create leadership programs, and fund scholarships.

He said his economics background helped him think long-term: “Accounting is about the past; economics is about the future.”

Now, with over 1,400 employees and a business valued in the billions, Siegfried has become an example of how hard work, vision, and strategy can lead to extraordinary success.

Robert Siegfried Quick Profile

• Name: Robert L. Siegfried Jr.

• Age: 66

• Hometown: Claymont, Delaware

• Education: University of Delaware (Economics & Accounting)

• Company: The Siegfried Group & Siegfried Advisory

• Family: Married to Kathleen Siegfried, 3 children

• Donation: $71.5M to University of Delaware