Michael James Lindell, popularly known as the My Pillow Guy, was born in the United States on June 28, 1961. He is a businessman, political activist, and conspiracy theorist. He is the company’s creator and CEO. My Pillow, Inc. manufactures pillows, bedding, and slippers.
Former U.S. President Donald Trump has Lindell’s vocal support and advice. Lindell had a crucial part in supporting and funding Trump’s efforts to reverse the outcome of the 2020 U.S. presidential election after he lost, spreading unfounded rumors of massive electoral fraud. Additionally, he has actively promoted the use of the poisonous plant extract oleandrin as a complementary medicine treatment for COVID-19.
How Much is Mike Lindell Net Worth in 2023?
Mike Lindell, an American novelist, business leader, and entrepreneur has a $50 million fortune. Mike Lindell became wealthy by founding and inventing My Pillow. He once served as a shining example of an incredibly uplifting tale of rehabilitation and American entrepreneurship.
In 2005, Mike, a college dropout, started My Pillow. According to his own admission, in 2008, he had a severe crack cocaine addiction and once slept straight for just 19 days. On January 16, 2009, he went out one last time before giving up alcohol, drugs, and crack.
My Pillow and Mike were terrific successes and recovery tales from 2009 to 2016. His advertisements were frequently seen on television, particularly on Fox News. Mike Lindell’s net worth peaked in 2016–2017 at $200–300 million.
Before Mike got into the conspiracy theory game and was hit with a $1.3 billion defamation lawsuit, his company made about $300 million in gross revenue annually. The goods were top sellers at retailers like Walmart, Bed Bath & Beyond, Kohls, HEB Stores, Wayfair, and the Canadian Shopping Channel.
My Pillow’s value in 2017 was estimated at $500 million using comparable company valuations. Mike claimed to have operated between $25 and $50 million of his own funds in interviews in 2022 and 2023 to demonstrate that Donald Trump’s victory in the 2020 election was stolen. He stated he was trying to establish and run his monthly social media program, Frank Social, for $1 million.
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Lost Revenue and Lost Fortune
In an interview between November 2020 and December 2021, Mike Lindell said he spent $25–$50 million of his own money attempting to show that Donald Trump’s election had been rigged. Many retail outlets removed Mike’s pillows from their shelves after his public rants over the election.
MyPillow’s sales decreased dramatically as a result of this action. Mike said that as of January 2023, My Pillow had lost over $100 million in yearly income due to these measures. In January 2022, the Minnesota Bank & Trust, one of Lindell’s personal banks, reportedly labeled him a “reputational risk.” He was no longer a client of the bank one month later.
Walmart, My Pillow’s largest distributor, removed all of the company’s items from its shelves in June 2022. Mike said in March 2023 that to keep My Pillow afloat in 2022, he was compelled to take out a $10 million loan. He further asserted that to “stay liquid,” he had been selling assets and taking out personal loans. According to him:
“I sold a building I had in Savage, Minnesota, in October. And I had to borrow $2 million too. I’ve spent it all fighting for this country.”