Mike Lindell Net Worth: From Small Beginnings to MyPillow Magnate
Mike Lindell is an American entrepreneur, business executive, and author who has a net worth of $0. At his financial peak, Mike Lindell’s net worth easily topped $100 million and may have been as high as $200-300 million. Prior to his election controversies, Mike’s company, My Pillow, grossed $110 million per year. Mike has claimed that in 2023, his company is on pace to gross just $5 million, a 95% drop. Much of that drop occurred after his products were dropped from stores like Walmart and Bed Bath & Beyond.
Who Is Mike Lindell?
Mike Lindell, born in 1961 in Mankato, Minnesota, is an entrepreneur, inventor, and outspoken personality. While he’s best known for founding MyPillow in 2004, his journey wasn’t all smooth sailing. Once upon a time (cue dramatic music), Lindell battled severe addiction issues, which nearly derailed his life. But, through perseverance and faith, he turned things around, crediting his success to his sobriety and newfound religious beliefs. From there, MyPillow was born, and so was the beginning of his financial ascent—or, depending on your perspective, his rollercoaster.
Early Life
Mike Lindell’s rise was one of resilience and recovery. A college dropout, Lindell started My Pillow in 2005, selling the product at trade shows and fairs. He struggled with addiction to crack cocaine, which culminated in 2008 when he stayed awake for 19 days straight. Lindell turned his life around in January 2009, quitting drugs and alcohol, and by 2011, My Pillow became a booming business. His infomercials aired over 200 times a day, helped the company grow from five to 500 employees within just 40 days. By 2016, My Pillow was generating $280 million in revenue and selling in major retailers like Walmart, Kohls, and Wayfair.
The Pillowy Rise of MyPillow
MyPillow has been the cornerstone of Lindell’s wealth. Launched with just a dream (and possibly some lumpy prototypes), the company became wildly successful thanks to infomercials that could rival the energy of late-night workout ads. By 2017, Lindell claimed MyPillow had sold over 41 million pillows, generating hundreds of millions in revenue. But like any good entrepreneur, Lindell didn’t just stop at pillows. The MyPillow empire expanded to include mattresses, bed sheets, and even slippers. Talk about building a comfy little kingdom!
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Financial Troubles
Lindell’s decline became increasingly public as he invested heavily in his controversial causes. In early 2023, he admitted to selling assets and borrowing $10 million to keep My Pillow afloat. He also revealed that he sold a building in Minnesota for $2 million and was taking out personal loans to stay financially viable. In 2021, one of his personal banks even dropped him as a client, citing reputational risks. Adding to his challenges, Lindell’s involvement in spreading false claims about the 2020 election has led to a $1.3 billion defamation lawsuit from Dominion Voting Systems. In 2023, he also lost a $5 million legal challenge after refusing to pay cybersecurity expert Robert Zeidman, who successfully debunked Lindell’s election fraud data.
Controversies and Legal Challenges
Political Activism
Mike Lindell’s outspoken support for former President Donald Trump has drawn both praise and criticism. After the 2020 presidential election, Lindell became one of the most vocal proponents of election fraud claims, funding lawsuits and producing a documentary titled Absolute Proof.
Retailer Boycotts
Major retailers such as Walmart, Bed Bath & Beyond, and Kohl’s discontinued mike lindell net worth products, citing declining sales. Lindell has accused these companies of bowing to political pressure.
Personal Life
Mike married Karen Dickey on May 9, 1987, and they have four children: Lizzy, Heather, Darren, and Charlie. Lindell and Dickey divorced after two decades of marriage, and Mike wed Dallas Yocum on June 8, 2013. Lindell filed for divorce the following month after Yocum left him. In early 2021, the “Daily Mail” claimed that Mike began a nine-month relationship with actress Jane Krakowski in late 2019. Krakowski’s rep denied the allegation, stating, “Jane has never met Mr. Lindell.
FAQs
What is Mike Lindell’s net worth in 2024?
As of 2024, Mike Lindell’s estimated net worth is approximately $50 million to $60 million. His wealth primarily comes from his successful business ventures, especially his MyPillow company.
How did Mike Lindell make his fortune?
Mike Lindell made his fortune primarily through MyPillow, a company he founded in 2004. The business has grown significantly, becoming one of the leading pillow brands in the U.S. Lindell also invests in other businesses and has made headlines for his political activism.
Has Mike Lindell faced financial setbacks?
Yes, Mike Lindell has faced financial challenges, including a decline in business due to controversies surrounding his political views and legal battles. However, his wealth has remained substantial due to his continued success with MyPillow.
Does Mike Lindell own any other businesses? I
n addition to MyPillow, Lindell has made investments in various ventures, including a mattress company and a line of sleep-related products. He is also involved in conservative media and activism.
What is Mike Lindell’s income from MyPillow?
Mike Lindell’s income from MyPillow fluctuates, but his company has reported annual revenues in the range of $200 million to $300 million in recent years. His earnings are closely tied to the company’s success in sales, marketing, and product development.
Conclusion
Mike Lindell has built a substantial net worth, primarily through his success with MyPillow, which has made him a prominent figure in both business and politics. Despite facing financial setbacks and controversies, his wealth remains significant due to the ongoing success of his company and investments in various ventures. Lindell’s story is one of entrepreneurial persistence, though it has been marked by public challenges and political involvement.
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