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Thursday, June 20, 2024

What is Mike Lindell Net Worth

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Let me tell you about Mike Lindell, an American entrepreneur, business executive, and author. He used to have a net worth of $0, but at his peak, it reached a staggering $100-300 million. However, things took a turn for the worse. His company, My Pillow, used to generate $110 million annually. But after some controversies and his products getting dropped from major stores like Walmart, Bed Bath & Beyond, his company’s revenue plummeted by 95% to just $5 million. Legal expenses and his quest to prove the 2020 election was rigged wiped out most of his fortune. He claimed to have spent $25 – $50 million trying to prove his point. On top of that, he was spending $1 million per month to launch and maintain his social media app, Frank Social. It’s been a tough road for Mike, as his attorneys recently filed a claim stating he owes millions in unpaid legal fees. He even said, “I’m out of money. I’ve lost everything. Every dime. All of it is gone.”

Back in the day, Mike was an inspiring example of recovery and entrepreneurship. He started My Pillow in 2005 after dropping out of college. In 2008, he battled addiction to crack cocaine but managed to turn his life around. From 2009 to 2016, My Pillow and Mike’s success story continued. His commercials were everywhere, especially on Fox News. His net worth peaked at $200-300 million, and his company raked in over $100 million in revenue annually. But things changed when he became a controversial figure, known for supporting Donald Trump and spreading false conspiracy theories. Many stores stopped selling My Pillow products, including Walmart. In 2022, Mike suffered a major blow when Walmart dropped his products. He even ran for Chair of the Republican National Committee but lost in January 2023, receiving only four votes out of 167.

Quite a journey, right?

Early Life & Mike Lindell Net Worth

Hey, did you know that Mike Lindell, born as Michael James Lindell on June 28, 1961, in Mankato, Minnesota, had quite a journey? Growing up in Carver and Chaska, Minnesota, he got into gambling at a young age. Though he started at the University of Minnesota, he dropped out after just a few months.

In his twenties, Lindell battled addiction to cocaine, and later on, in the ’90s, he even started using crack. Unfortunately, his drug abuse and gambling debts took a toll on his personal life, leading to the end of his first marriage and the foreclosure of his home. It got so bad that his crack dealers even staged an intervention in 2008! Can you believe it? They refused to sell to him anymore. One of them even tried to babysit him until he finally fell asleep.

But you know what? Lindell turned his life around with the help of prayer. In 2009, he managed to get sober and leave his addiction behind. It’s quite the journey, isn’t it?

Mike Lindell Net Worth

In the ’80s, Mike actually started a bunch of small businesses in Minnesota – you know, bars, restaurants, and even a carpet cleaning business. But then in 2004, he came up with this brilliant idea – the My Pillow pillow. He started selling it at trade shows, mall kiosks, and state fairs. And let me tell you, things really took off when he aired his first infomercial in 2011. Can you believe it cost $500,000 to produce?! But hey, it was totally worth it because that infomercial became the number one in the whole world! In just 40 days, the company went from having only five employees to a whopping 500!At its peak, this company was raking in a reported $280 million in revenue every year. I mean, that’s some serious dough! And get this, they’ve sold over 50 million pillows and now employ more than 1,600 people. But hey, it hasn’t always been smooth sailing for them. In 2017, the Better Business Bureau actually revoked My Pillow, Inc.’s accreditation due to customer complaints. Ouch! They went from being top-notch to an F rating. Not great, right?Then, in 2020, Mike made a pretty big move and appointed his own son, Darren, as the CEO. But things started to go south. By 2021, a lot of retailers stopped selling My Pillow products. Mike thinks it’s because of his claims about the 2020 election, but the official word from Bed Bath & Beyond is that they just weren’t performing well. Talk about a bummer!But Mike didn’t let that get him down. Nope! In March 2021, he announced that he was launching a social media platform called Vocl – like a mix of Twitter and YouTube. But then he had a little dispute with another company called Vocal, so he changed the name to Frank. Clever, right? Well, here’s the thing – Frank had a pretty rough start with lots of technical difficulties. But hey, as of April 2022, Mike already had 308 followers on FrankSocial. That’s more than anyone else! Go, Mike!

Lost Revenue and Lost Fortune

So, in December 2021, Mike Lindell goes on an interview and claims he spent a whopping $25 – $50 million of his own money between November 2020 and December 2021, all in an attempt to prove that the election was stolen from Donald Trump. Can you believe that?

And let me tell you, his rantings about the election didn’t go unnoticed. It caused many retail stores to pull his pillows off their shelves, and you won’t believe what happened next. MyPillow’s sales dropped significantly. I mean, talk about consequences, right?

Then, in January 2023, Mike comes out and says that these actions caused My Pillow to lose over $100 million in annual revenue. Ouch!

But that’s not all. In January 2022, one of Lindell’s personal banks called him a “reputational risk.” And guess what? A month later, they drop him as a client. Talk about a blow to the ego.

And as if things couldn’t get worse, in June 2022, Walmart, My Pillow’s biggest distributor, decides to pull all of their products from their stores. Can you imagine the impact that had?

Fast forward to March 2023, and Mike claims he had to borrow $10 million in 2022 just to keep My Pillow afloat. He even goes on to say that he’s been selling assets and borrowing money personally to “stay liquid.” I mean, he sold a building he had in Minnesota and had to borrow $2 million too. Can you believe the lengths he’s going to?

All I can say is, it’s been quite a rollercoaster ride for Mike Lindell and his My Pillow empire.

Private Jets

You know Mike Lindell Net Worth, what’s interesting? On social media, Mike is always showing off, taking pictures and videos on one of his private jets. Can you believe it? Just last month, there were reports that MyPillow actually sold one of their private jets, a 1993 Dassault-Breguet Falcon 50. This 10-passenger plane can fly from LA to NYC in just 5 hours, reaching a top speed of 539 mph! I mean, that’s pretty impressive, right? Similar models go for anywhere between $1.5 to $3.5 million, depending on their age, mileage, and condition. But get this, in an interview earlier this year, Mike hinted that he still owns at least one more private jet. Can you imagine having that kind of luxury? Crazy, right?

Personal Life

Once upon a time, in the year of 1987, Mike and Karen Dickey joined hands in matrimony. From their union, four wonderful children named Lizzy, Heather, Darren, and Charlie, came into the world. However, after two decades, their love story came to an end, and Mike found happiness once again with Dallas Yocum, whom he married on June 8, 2013. Unfortunately, their marital bliss was short-lived, as Yocum left him just a month later, leading Mike to file for divorce.

But wait, the plot thickens! In late 2019, rumors began to swirl that Mike had embarked on a nine-month romance with none other than actress Jane Krakowski. However, both Mike and Jane vehemently denied these claims, asserting that they had never even crossed paths. In fact, Mike took it a step further and filed a lawsuit against the publication that spread the rumor, making it crystal clear that he was not about to let his name be tarnished.

Now, fast forward to early 2021, where things took an unexpected turn. Mike, fearing for his safety, revealed during an appearance on “The Domenick Nati Show” that he had been living in undisclosed locations. He confessed, “I haven’t been back to Minnesota, and anybody out there that is looking for me, I haven’t been back there in two months. I can’t go back there.” The suspense builds as we wonder what could have possibly happened to make Mike go into hiding.

But fear not, dear readers, for there is light amidst the darkness. In 2012, Mike founded the Lindell Foundation, a noble non-profit organization dedicated to helping drug addicts find the treatment they so desperately need. And in 2019, he launched the Lindell Recovery Network, a beacon of hope for struggling addicts, offering them solace, restoration, and the love of Jesus.

To add another twist to this captivating tale, Mike authored a book in 2019 titled “What Are the Odds? From Crack Addict to CEO.” A true testament to the resilience of the human spirit, this book chronicles his remarkable journey from the depths of addiction to the heights of success.

And so, dear readers, the story of Mike Lindell continues to unfold. As we eagerly await the next chapter, we are reminded that life is full of unexpected twists and turns, and that even in the face of adversity, hope and redemption are never far away.

Minnesota Mansion

Back in August 2016, Mike bought this amazing mansion in Chaska, Minnesota. It’s a spacious 5,400 square foot house sitting on 2.5 beautiful acres of land. Fast forward to September 2022, Mike decided to put it up for sale at $1.1 million. After a few months, in December 2022, he ended up selling it for $945,000. Quite a journey!

Donald Trump Support

Mike Lindell Net Worth even attended the final presidential debate and Trump’s inauguration. He’s spoken at Trump rallies and the 2019 Conservative Political Action Conference too. In 2019, Lindell met with Trump to discuss opioid addiction and was there when the SUPPORT for Patients and Communities Act was signed. During the COVID-19 pandemic, at the request of the Trump administration, Mike temporarily shifted focus at My Pillow factories to produce face masks instead of bedding products. He even appeared at a White House COVID-19 press conference and served as the Minnesota campaign chair for Trump’s 2020 re-election campaign. However, it’s worth noting that during the pandemic, Mike has promoted oleandrin, a toxic plant extract, as a COVID-19 cure, and he’s also a board member of Phoenix Biotechnology, a company that manufactures products containing oleandrin.

Election Conspiracies

After Joe Biden defeated Trump in the 2020 election, Lindell got involved in sponsoring a bus for a two-week tour to challenge the election results. He even spoke at a few stops on the tour. Mike attended the rally before the January 6th attack on the Capitol, but he claims he wasn’t there during the insurrection. However, he did spread conspiracy theories suggesting that Antifa might have been behind the attack, possibly “dressed as Trump people.”

Mike has also been promoting conspiracy theories about Smartmatic and Dominion voting machine companies colluding with foreign powers to manipulate their machines and steal the election. As a result, Dominion filed a $1.3 billion defamation lawsuit against him. In January 2021, these false claims led to Lindell being permanently banned from Twitter.

In September 2021, Bonner County, Idaho, conducted a recount of ballots from the 2020 election after Lindell alleged that over 40 Idaho counties had been hacked. The recount concluded that the accuracy was within 0.1% and found no evidence of hacking. Idaho’s Chief Deputy Secretary of State, Chad Houck, announced that the state would be billing Mike for the cost of the recount.

In 2021, he also directed, produced, and starred in the documentary “Absolute Proof” in an attempt to prove that Trump won the 2020 election. However, fact-checkers criticized the documentary for including “debunked, unsubstantial claims,” and it was removed from YouTube and Vimeo shortly after livestreaming on the One America News Network website.

$5 Million Challenge Lawsuit

In August 2021, Mike Lindell Net Worth decided to host this three-day event called the “Cyber Symposium” where he claimed he would present “irrefutable evidence” of voter fraud. But guess what? He never actually provided any evidence! As part of the symposium, he even launched this “Prove Mike Wrong Challenge” and promised a whopping $5 million reward to anyone who could debunk his data related to the 2020 election. Can you believe it? Well, surprise surprise, a cyber security expert named Robert Zeidman took up the challenge and completely debunked the data, proving that it had absolutely nothing to do with the November 2020 election. You’d think Mike Lindell Net Worth would just admit defeat, right? Nope! When it was time to pay the reward, he straight-up refused! And that’s when Zeidman had enough and filed a lawsuit. It wasn’t until April 2023 when an arbitration panel finally confirmed Zeidman’s work and ordered Lindell to cough up the cash. The panel’s findings were crystal clear: Lindell’s failure to honor the contract was a total breach, and Zeidman was more than entitled to recover that $5 million prize.

Sara Jackson
Sara Jacksonhttps://www.magzica.com
Introducing Sara Jakson, an accomplished author with a passion for celebrity journalism. With her keen eye for detail and captivating writing style, Sara has become renowned for her insightful articles on the lives of the rich and famous. Her ability to uncover the hidden stories behind the glitz and glamour has made her a trusted voice in the industry. Get ready to dive into the fascinating world of celebrities as Sara Jakson takes you on an unforgettable literary journey.

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