This article mentions Mike Lindell’s net worth and how he has managed himself financially.
As the one who co-founded MyPillow, although he has lost and made money in different outlets and controversies. Let us look into the particulars of his financial situation.
What Is Mike Lindell’s Net Worth?
American businessman and author Mike Lindell once achieved astonishing wealth figures, reaching a net worth of over $300 million.
In the present day, however, Lindell has seen his fortunes improve as his net worth began to decline drastically.
Mainly because of the courtroom wars and his famous controversy regarding election allegations.
Lindell’s brand MyPillow registered an annual turnover of $110 million and was branching into retail outlets such as Walmart and Bed Bath & Beyond.
However, by 2023, revenue was reported at only $5 million, and all the retail stores STOPPED selling MyPillow products.
Lindell now asserts that he has lost everything, having spent tens of millions of dollars pursuing his election claims and supporting his social media app, Frank Social.
Mike Lindell Overview
| Aspect | Details |
|---|---|
| Full Name | Mike Lindell |
| Occupation | Entrepreneur, Business Executive, Author |
| Company | MyPillow |
| Peak Net Worth | $200 – $300 million |
| Current Net Worth | $0 |
| Annual Revenue at Peak | $110 million |
| Current Revenue (2023) | $5 million |
| Retail Partners (Past) | Walmart, Bed Bath & Beyond, Kohl’s, HEB, Wayfair, Canadian Shopping Channel |
| Major Financial Setbacks | Lawsuits, product withdrawals, legal fees, failed social media venture |
| Legal Expenses | $25 – $50 million (for election claims and legal battles) |
| Social Media App | Frank Social |
| Significant Event | Major retailers stopped carrying MyPillow products in June 2022 |
Early Life
Mike Lindell, whose birth name is Michael James Lindell, was born on June 28, 1961, in Mankato, Minnesota, and raised in Carver and Chaska.
After college, he began gambling as a teenager and went to the University of Minnesota for college before eventually dropping out.
In his 20s, Lindell developed a devastating crack and cocaine addiction that took darkness on him both personally and financially.
It was in 2008 when his drug dealers staged an intervention that proved to be a watershed moment, as it was in 2009, that Lindell attributes his sobriety to God.
My Pillow
In the 1980s, Lindell began experimenting with different businesses, such as owning bars and restaurants and carpet cleaning across Minnesota.
In 2004, he invented a pillow named MyPillow, which he sold at trade fairs.
By 2009, Lindell had created MyPillow, Inc., and its popularity had exploded after it had released two infomercials in 2011.
At its peak, the firm acquired annual revenues of $280 million and sold 50 million pillows.
Nevertheless, MyPillow encountered problems dealing with its retailers and a lowered rating from the BBB.
In 2021, Lindell set up and launched a social media platform called Frank, which became problematic due to technical issues.
Lost Revenue and Lost Fortune
As per the news from December 2021, It was revealed by Mike Lindell that he has provided up to $25 – $50 million of his own money,
That was between November 2020 and December 2021, to contest the 2020 election.
Many retailers dropped the sale of MyPillow because of his controversial assertions, and as a result, the company recorded a revenue loss of more than 100 million dollars by January 2023.
Meanwhile, Minnesota Bank & Trust considered him a “Reputation risk” and terminated the relationship in early 2022. By the end of March 2023, Lindell had to borrow $10 million and sell some properties to keep My Pillow running.
Personal Life
Mike Lindell’s wife from 1987 to 2006 was Karen Dickey, with whom he had children Lizzy, Heather, Darren, and Charlie.
After twenty years of marriage, the two parted ways, and a new marital union with Dallas Yocum followed on June 8, 2013. One month later, they were divorced.
In January 2021, Lindell dated actress Jane Krakowski, which was denied by both. Lindell also mentioned being in hiding for security purposes and later coming back to Texas.
He started the Lindell Foundation in 2012 and the Lindell Recovery Network in 2019 and self-published his story, “What Are the Odds? From Crack Addict to CEO,” in 2015.
Conclusion
In conclusion, this well captures Mike Lindell’s worth and the history of his rather interesting and quite versatile activities.
Starting with the founder of MyPillow, Lindell moved to the media and politics and made money.
The wealth of Lindell indicates his business intellect and flexibility. In the sense that he remains ambitious,
That is, he will earn more money. His worth will depend on his talent and the changes in his pursuits and scope.