Mike Lindell, also known as the “My Pillow Guy,” has lived a life that is both interesting and eventful. In addition to his substantial success with MyPillow, he has established himself as a Donald Trump supporter and election denier.
Recently, the Supreme Court denied Lindell’s appeal regarding the seizure of his mobile phone by the FBI at a restaurant drive-through as part of a vote tampering investigation.
Lindell has been advocating for the notion that voting machines were manipulated in 2020 to steal the presidential elections from then-President Trump. He is also not unfamiliar with defamation cases.
Dominion Voting Systems and Smartmatic, manufacturers of voting machines, and Eric Coomer, a former employee of Dominion, had filed defamation lawsuits against him for asserting that the 2020 election was stolen from Trump.
In addition, a federal magistrate ordered Lindell to pay $5 million to Robert Zeidman, an engineer who participated in the “Prove Mike Wrong Challenge,” in response to his assertions regarding the 2020 election results. Given the numerous legal expenses and defamation cases that have accrued, what is the true value of the MyPillow founder?
What is the net worth of Mike Lindell?
According to Celebrity Net Worth, ike Lindell, an American entrepreneur, business executive, and author, has a net worth of $0. Mike Lindell’s net worth exceeded $100 million and may have reached as much as $200-300 million during his financial zenith.
Mike’s company, My Pillow, generated $110 million annually before his election-related controversy.
Mike has asserted that his organization is projected to generate only $5 million in revenue in 2023, representing a 95% decline. A significant portion of that decline was the result of his products being removed from retailers such as Walmart and Bed Bath & Beyond.
The overwhelming majority of Mike’s former fortune has been reportedly wiped away by the costs of attempting to prove the 2020 election was rigged, in addition to the legal expenses that have contributed to his problems.
Mike asserted in numerous interviews conducted in 2022 and 2023 that he had expended $25 to $50 million of his funds to demonstrate that the 2020 election was stolen from Donald Trump.
Additionally, he asserted that he was spending $1 million per month at one point to establish and sustain his social media application, Frank Social.
Michael’s attorneys in a defamation case filed a claim in October 2023 that he owes millions in unpaid legal expenses. Consequently, they requested to terminate his client status. Mike asserted that he had “lost everything” and was “out of money” in response.
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Mike Lindell Sources of Income
Mike Lindell’s primary source of income is his company, MyPillow, which he founded in 2005. MyPillow generates significant revenue through the sale of its pillows and other bedding products.
At his financial peak, Lindell’s net worth was estimated to be between $200-300 million, with MyPillow grossing $110 million per year. However, his net worth has declined significantly in recent years due to several factors:
- Political controversies: After Lindell began supporting former President Donald Trump and making unsubstantiated claims about the 2020 election, major retailers like Bed Bath & Beyond discontinued selling MyPillow products.
- Legal expenses: Lindell has spent millions of dollars on legal battles and attempts to prove the 2020 election was rigged, which has contributed to his declining net worth.
- Losses in poker and gambling: Lindell has reportedly spent around $3 million on poker over the last two years.
- Lavish gifts: Lindell has spent a considerable amount trying to foster relationships through expensive gifts.
Despite these setbacks, MyPillow remains a profitable company, generating $24 million in sales revenue and $10 million in profits each year.
Lindell owns an 8% equity stake in MyPillow, which is currently valued at $35 million. In addition to his business ventures, Lindell has also authored a book titled “What Are the Odds? From Crack Addict to CEO” in 2019.
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