The CEO and founder of My Pillow, Inc., Mike Lindell has achieved fame over the years. The 62-year-old businessman enjoys a lavish lifestyle with his private jets and huge mansion in Minnesota. So, it’s natural to feel intrigued to know Mike Lindell net worth and how he has built a fortune.
In this article, we will dive deep into the chief executive officer’s income sources and assets as well as the reasons behind a decline in his net worth.
Table of Contents
Who is Mike Lindell?
Michael James Lindell, popularly known as My Pillow Guy, is a renowned American businessman. His most successful business venture is My Pillow, a company that specializes in manufacturing pillows and bedding.
Another thing worth mentioning about Lindell is that he is a dedicated supporter of Donald Trump. His alliance with the former president of the US has caused Mike Lindell net worth to drop by 50%.
Mike Lindell: a brief biography
| Full Name | Michael James Lindell |
| Profession | American businessman, conspiracy theorist, political activist |
| Age | 62 |
| DOB | June 28, 1961 |
| Place of Birth | Minnesota’s Mankato |
| Relationship Status | Divorced |
| Spouses | Karen Dickey and Dallas Yocum |
| Children | 4 (Heather Lueth, Charlie Lindell, Darren Lindell, and Lizzy Meyers) |
| Religion | Christianity |
| Net Worth | $40 million |
| Website | michaeljlindell.com |
Assets
Mike Lindell net worth 2023 is $40 million and the chief source of his revenue is My Pillow. In the past few decades, he has built many assets like mansions and extravagant vehicles. Have a look at the wealth Mike has accumulated throughout his career.
| Mike Lindell net worth 2023 | $40 million |
| Net worth of My Pillow | $390 million |
| Salary | $1 million |
| Income per year | $7 million |
| Properties (residential) | 12 |
| Number of vehicles | 10 |
| Luxury watches | At least 15 |
| Alimony to ex-wife | $610,000 |
Houses
Lindel has always been a fan of opulence and therefore, has several luxurious mansions. The primary residence of the main is a huge house in Minnesota, covering an area of 21,000 sq. feet. The house is all about architectural excellence as it imitates the architectural style of Napolean Bonaparte. He paid $40 million for this massive estate and today, its price is at least $58 million.
Cars
Lindell likes to travel in premium automobiles and that explains why his car collection is astounding. It includes a range of exotic models such as Lincoln Navigator, Bentley Flying Spur, Lexus ES, BMW X8, Ferrari Portofino, Mercedes-Benz C-Class, Audi A6, and Range Rover Velar.
Mike Lindell net worth
| Net Worth of Mike in 2023 | $40 Million |
| Mike Lindell Net Worth 2022 | $50 Million |
| Net Worth of Mike in 2015 | $72 Million |
| Net Worth of Mike in 2010 | $51 Million |
| Mike Lindel Net Worth in 2005 | $22 Million |
So, it is clear from this timeline that his net worth increased steadily at the beginning of his entrepreneurship. However, due to his involvement in political matters, his business suffered tremendously. When he made bold allegations that the Presidential Election was unfair, it angered many people who stopped buying products from his company.
Mike Lindell net worth drop
When Mike Lindell became Trump’s supporter, his company made a huge profit. When it came to purchasing bedding and pillows, Trump loyalists relied only on My Pillows. His net worth soared to $70 million at that time. However, there has been a drop in his wealth, and here’s why:
Mike met Donald Trump for the first time in 2016 and since then, he has been a die-hard fan of Trump. Being a staunch Republican, he voiced his political opinions on social networking sites and TV.
However, things went out of his hands when he made contentious statements about the outcome of the Presidential Elections of 2020. Major retailers like Bed Bath & Beyond chose to cut business ties with Mike. So, after 2020, Lindell’s net worth started declining and now it is nearly $40 million.
Another factor that led to the decrease in Lindell’s wealth was his many legal settlements. After his bold remarks about the Election, the court ordered him to pay $20 million to multiple individuals and entities.
Lindell has experienced financial setbacks because of his love for gambling and poker. In the past 2 years, he has spent $3 million only on poker. He also has a habit of giving expensive gifts to people to earn their friendship. For instance, Joe Rogan received a watch worth $50k from Mike. He kept the present but Mike couldn’t win the person’s favor.
Rudy Giuliani, Tucker Carlson, and Jeanine Pirro are some others whom Lindell pampered with costly gifts. These spendings are bound to have an impact on his net worth.
Early life
Mike Lindell was born in June of 1961 in the peaceful neighborhood of Mankato in Minnesota. The initial years of his childhood were spent in Minnesota’s Carver and Chaska. As a mischievous teenager, Lindell started taking an interest in gambling.
After completing schooling, Lindell enrolled himself at the University of Minnesota. However, he could not acquire a degree as he dropped out within a few months. In his 20s, Mike became a cocaine addict, and his unreasonable obsession with gambling continued.
Naturally, he started incurring debts and his personal life suffered. Scroll down to find out what happened next and how he achieved sobriety.
Mike Lindell wife
Mike tied the knot two times, but none of his marital relationships could stand the test of time. The reason behind the collapse of his first marriage was his callous lifestyle in the 1980s and 1990s. Karen Dickey, his wife, filed for divorce when she was fed up with Mike’s gambling habits and drug addiction.
Before their separation, Mike and Karen were happy in the initial years. They had four children, namely, Heather Lueth, Charlie Lindell, Darren Lindell, and Lizzy Meyers.
After Karen left Mike, he remained unmarried for two decades, but then he found love again. He met Dallas Yocum and the two tied the knot in June 2013. Unfortunately, he could not enjoy a fulfilling conjugal life with Dallas.
A month later, the couple understood that they weren’t compatible and they parted ways. As they had a detailed prenuptial agreement, the divorce happened smoothly. Presently, he is a single man living on his own and has no plans of marrying a third time.
Dating rumors
In January 2021, there was an article published by Daily Mail, a leading newspaper agency. The report stated that Lindel started dating Jane Krakowski at the end of 2019. The actress denied having anything to do with the businessman.
Lindell decided to sue the newspaper and made Charles Harder his attorney. However, the court dismissed the case as it failed to find any defamatory statement made by Daily Mail. It is evident from this incident that Mike will not entertain fake news about his love life.
Career
Lindell, who never had any interest in doing a 9-5 job, always knew he’d be a businessman. In the 1980s, he started multiple small businesses such as lunch wagons, carpet cleaning, restaurants, and bars in Carver County. None of these business ventures were as successful as My Pillow.
My Pillow
After repeated failures, Mike launched My Pillow, the business that took him from rags to riches. But why did he decide to design pillows all of a sudden? Well, there’s a funny story behind it.
In an interview, Lindell mentioned how he always had disturbed sleep because of the pillows. When he was 16, he spent 70 dollars on a pillow. So, he often imagined how wonderful it’ll be to have a pillow that could maintain its shape. One night, he woke up at 2 am and came up with the idea of offering people the most comfortable pillows.
Lindell’s aim was to design a pillow that could hold its original shape. For days, he cut up foam, tested configurations, and learned how to sew. After making many pillows with the help of his son, Lindell was confident that the pillows were great. He contacted a Bed, Bath and Beyond store, but they showed no interest in buying his special pillows.
It was then that a relative gave Mike the suggestion that he could sell them on his own at a mall. With $15,000, he succeeded in setting up a kiosk during the holiday season. Despite his charming personality, he could not sell more than 80 pillows.
However, one of Mike’s buyers was a person who used to run a home show in the town of Minneapolis. He liked the pillow so much that he invited Mike to attend his upcoming show. All of his remaining pillows were sold during that event and it was the first time, Mike was thrilled with the response of his customers.
By 2011, My Pillows became a well-known brand Mike was happily savoring the fruits of his hard work. He even started getting media attention and that worked in his favor by increasing the sales. A local newspaper published an article on Mike and his company and he fondly remembers this day.
Lindell was in Vegas on some business and his phone began to ring. He got so many orders that day that he ended up selling more pillows in one day than has sold in the past six months. He felt nice that his company was getting so much exposure and that’s when Lindell thought of making an infomercial.
Infomercials
Lindell got offers from various platforms to narrate his success story and he was gladly doing print ads. So, he understood that an infomercial would prove beneficial for him. The people loved it so much that the number of employees at My Pillow soared from 5 to 500.
Over the next few years, Mike spent nearly a hundred million only on infomercials. The outcome was that 30 million products were sold. While earlier the revenue was $100,000, later it was $300 million per year.
Philanthropic initiatives
After the establishment of My Pillow, Lindell made significant donations to Union Gospel Mission and Salvation Army. He is also the founder of a non-profit organization named the Lindell Foundation. The organization helps former addicts lead a normal life by overcoming their drug addiction.
In 2019, the Lindell Recovery Program was launched by Mike. It connects people who are struggling to stop taking drugs with people who have recovered from drug addiction. Presently, the foundation does more than providing treatment to addicts. It supports veterans and cancer patients as well.
Wrapping Up
The journey of Mike Lindell’s life from a crack addict and gambler to a multimillionaire is no less interesting than a Hollywood movie. After having a rocky start, he had the inner strength to quit cocaine and launch a global business.
Although Mike Lindell net worth is not the same as before, it’s still $40 million. The man has witnessed many ups and downs and he is capable of achieving greatness again.
Frequently Asked Questions
1. Who is Mike Lindell?
Michael James Lindell is a businessman who rose to fame after his company ‘My Pillow’ became a well-known brand. So, the other name of this American entrepreneur is My Pillow Guy. His television appearances and donations to political causes made him a known face.
2. What is the net worth of Mike Lindell?
Mike Lindell net worth Forbes is $40 million as of now.
3. Does My Pillow Guy have a wife?
The CEO of My Pillow married two times but is currently single. While he has four children from his first marriage, his second marriage lasted only a month.
4. What are the charitable works of Mike Lindell?
Lindell deserves credit for making generous donations to various organizations. His non-profit organization’s aim is to support addicts in receiving essential services and proper treatment.
5. Is Mike Lindell fond of luxury vehicles?
Mike Lindell is totally a car geek and his collection of vehicles proves the fact. Audi A6, Lincoln Navigator, Bentley Flying Spur, and Range Rover Velar are some of the best cars he owns.