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. Further adding to his problems, Mike’s legal expenses and the costs of attempting to prove the 2020 election was rigged have apparently wiped away the vast majority of Mike’s former fortune. In various interviews in 2022 and 2023, Mike claimed to have spent $25 – $50 million of his personal money trying to prove the 2020 election was stolen from Donald Trump. He also claimed to be spending $1 million per month at one point trying to launch and maintain his social media app, Frank Social. In October 2023, Mike’s attorneys in a defamation case filed a claim that he owes millions in unpaid legal fees, and therefore they requested to drop him as a client. In response, Mike claimed to be “out of money” and that he had “lost everything. Every dime. All of it is gone.”
Mike Lindell Early Life
Mike Lindell was born Michael James Lindell on June 28, 1961, in Mankato, Minnesota. He grew up in Carver and Chaska, Minnesota, and he began gambling as a teenager. After graduating from high school, Mike enrolled at the University of Minnesota, but he dropped out a few months later.
Mike Lindell My Pillow Company
In the ’80s, Mike launched several small businesses in Minnesota, such as bars, restaurants, and a carpet cleaning business. In 2004, he invented the My Pillow pillow, and for the next few years, he sold the product at trade shows, mall kiosks, and state fairs. He established My Pillow, Inc. in 2009, and the company took off after its first infomercial in 2011. The 30-minute show cost $500,000 to produce, and it aired an average of 200 times per day. Lindell has said of the infomercial, “It became the number one infomercial in the world. In 40 days, we went from five employees to 500.”At its peak, the company generated a reported $280 million in revenue per year. As of this writing, the company has sold over 50 million pillows and employs more than 1,600 people. In 2017, My Pillow, Inc.’s accreditation was revoked by the Better Business Bureau due to customer complaints, and its rating was lowered to an F.
Mike Lindell Political and Media Influence
Mike Lindell’s political and media presence are as strong as his business identity. He has built his name as an outspoken conservative supporter, and his political involvement was even more highlighted following the 2020 U.S. presidential election. He openly supported claims of election fraud, making him a polarizing figure in the eyes of the media and public. This political stance brought his brand MyPillow into controversy, and several major retailers removed his products from their stores. This impacted his company and finances, but did not compromise his beliefs and standpoints. He established his own media network where his focus was on free speech and political narratives. This network makes him a powerful media voice, which acts as an alternative to traditional media platforms.
Mike Lindell 2020 & Conspiracy Theories
Lindell’s troubles began in 2020, when he became associated with conspiracy theories regarding Trump’s loss in presidential elections. Soon, MyPillow suffered a low rating, leading to retailers pulling out the products from their stores. By July 2023, MyPillow had resorted to auctioning off equipment and subleasing portions of their manufacturing space. Lindell became an avowed Trump fan after their meeting in 2016. “When I met with Donald Trump, it felt like a divine appointment, and when I walked out of that office, I decided I was going to go all in,” Lindell claimed. After Trump’s defeat in the 2020 election, Lindell endorsed conspiracy theories surrounding the poll outcome.
Read More: Kimberly Otis San Diego
Mike Lindell Donald Trump Support
Lindell became a Trump supporter after meeting with the then-presidential candidate in August 2016. Mike later said:
“When I met with Donald Trump, it felt like a divine appointment, and when I walked out of that office, I decided I was going to go all in.”
Lindell attended the final presidential debate as well as Trump’s inauguration, and he has spoken at Trump rallies and the 2019 Conservative Political Action Conference. In 2019, he met with Trump about the issue of opioid addiction, and he was in attendance when the then-president signed the SUPPORT for Patients and Communities Act, which dealt with opioid use disorder. During the beginning of the COVID-19 pandemic, Mike temporarily changed the focus of the My Pillow factories from bedding products to face masks at the Trump administration’s request. Around that time, Lindell appeared at a White House COVID-19 press conference, and he became the Minnesota campaign chair for Trump’s 2020 re-election campaign. During the pandemic, Mike has promoted oleandrin, a toxic plant extract, as a COVID-19 cure, and he is a board member of Phoenix Biotechnology, a company that manufactures products that contain oleandrin.
Mike Lindell Private Jets
On social media, Mike is often pictured or recorded aboard one of his private jets. In July 2021, it was reported widely that MyPillow sold a 1993 Dassault-Breguet Falcon 50 private jet. The 10-passenger plane can travel from LA to NYC in 5 hours at a top speed of 539 mph. Depending on age, miles, and condition, similar models sell for $1.5 – $3.5 million.
In an interview in March 2023, Mike implied that he still owned at least one other private jet.
Mike Lindell Real Estate Investments
Mike Lindell’s real estate investments are a significant part of his net worth. He owns a number of properties in Minnesota, including a large estate in Chaska. Lindell has also invested in commercial real estate, including a retail center in Bloomington.
Rental Income
Lindell’s rental properties generate a steady stream of income. He rents out both residential and commercial properties, which provides him with a reliable source of passive income.
Appreciation
Lindell’s real estate investments have also appreciated in value over time. This has increased his net worth and provides him with a potential source of future income if he decides to sell his properties.
Tax Benefits
Real estate investments can also provide tax benefits. Lindell can deduct mortgage interest and property taxes from his income, which reduces his tax liability.
Mike Lindell 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. She is not and has never been in any relationship with him, romantic or otherwise.” Lindell also denied it and filed a lawsuit against the publication.
FAQs
What is Mike Lindell’s net worth?
Mike Lindell claims to have lost his entire fortune due to financial and legal challenges, including business losses and legal expenses. At his peak, his net worth was estimated to be between $100 million and $300 million.
How did Mike Lindell make his fortune?
Mike Lindell founded MyPillow in 2004, which became a successful bedding company known for its pillows. The company achieved significant revenue growth, reportedly generating as much as $280 million annually at its peak.
Why has MyPillow’s revenue dropped?
MyPillow’s revenue declined significantly after major retailers like Walmart and Bed Bath & Beyond stopped carrying its products. This was attributed to controversy surrounding Mike Lindell’s political and conspiracy-related statements following the 2020 U.S. presidential election.
How much money has Mike Lindell spent on election-related claims?
Mike Lindell has claimed to have spent between $25 million and $50 million of his personal funds to support claims of election fraud related to the 2020 presidential election.
Conclusion
Mike Lindell’s story is a complex blend of entrepreneurial success, personal challenges, and political controversies. As the founder of MyPillow, he achieved significant financial success, with his company generating hundreds of millions in annual revenue and becoming a household name. However, his outspoken political views and involvement in election-related conspiracy theories have led to a significant downturn in his business, financial struggles, and legal battles.
Read Next: Verifiedzine
