Founder and CEO of My Pillow, Mike Lindell, has been ordered to pay $5 million to a software developer named Robert Zeidman. Lindell had openly spoken about conspiracy theories during the 2020 presidential election 🗳️, and Zeidman has now proven his claims to be incorrect in a contest called “Prove Mike Wrong Mike Lindell Net Worth, Family, Political Controversies, and Social Media Presence 🤷♂️.
💰 Mike Lindell Net Worth: A Rollercoaster Ride
- 1 💰 Mike Lindell Net Worth: A Rollercoaster Ride
- 1.1 📉 Financial Decline
- 1.2 💸 Legal Expenses and Election Controversy
- 1.3 Mike Lindell net worth breakdown?
- 1.4 🤝 Defamation Case
- 1.5 🌟 Rise and Fall
- 1.6 🛍️ Retail Success
- 1.7 🔥 Controversial Path
- 1.8 🗳️ Political Aspirations
- 1.9 🌟 Early Life
- 1.10 🚬 Battle with Addiction
- 1.11 Mike Lindell’s net worth timeline?
- 2 ❌ Better Business Bureau Accreditation Revocation
- 3 🏡 Minnesota Mansion
Mike Lindell, the American entrepreneur, business executive, and author, has seen a dramatic fluctuation in his net worth over the years. At the peak of his financial success, his net worth soared to potentially $200-300 million. However, as of the latest information, Mike Lindell net worth is reported to be $0 Read More.
|Category||💼 Richest Business › CEOs|
|Net Worth||💰 $0|
|Date of Birth||📅 Jun 28, 1961 (62 years old)|
|Place of Birth||🏞️ Mankato, Minnesota, U.S.|
|Profession||👔 Founder and CEO of My Pillow|
📉 Financial Decline
In recent times, Mike Lindell has faced significant financial challenges. He mentioned that his company, My Pillow, which once grossed an impressive $110 million annually, is now on track to generate just $5 million in 2023—a staggering 95% drop in revenue. A major contributing factor to this decline was the removal of My Pillow products from major retailers like Walmart and Bed Bath & Beyond.
|Net Worth||💰 $40 Million|
|My Pillow Net Worth||💼 $390 Million|
|Annual Income||💵 $7 Million|
|Salary||💼 $1 Million|
|House Properties||🏠 12|
|Luxury Watches||⌚ 15+|
💸 Legal Expenses and Election Controversy
Mike Lindell’s financial troubles were exacerbated by substantial legal expenses incurred while attempting to prove his claims of election fraud in the 2020 election. He stated that he spent between $25 million and $50 million of his personal funds in pursuit of these claims. Additionally, he invested heavily in his social media app, Frank Social, with reported monthly costs reaching $1 million.
Mike Lindell net worth breakdown?
|Asset or Income Source||💰 Contribution to Net Worth|
|Minnesota mansion sale||🏠 $945k|
|Book proceeds||📚 Unknown|
|8% equity in MyPillow||💼 ~$35 million|
|Election interference campaigns||💼 -$25-50 million|
|Frank Social program||💻 -$1 million per month|
|Proceeds from sale of other MyPillow equity||💼 Unknown|
|Unpaid legal fees||💼 -$2 million|
|Total Net Worth||💰 ~$30+ million|
🤝 Defamation Case
In October 2023, Mike Lindell faced further financial challenges when his attorneys in a defamation case claimed that he owed millions in unpaid legal fees. They subsequently requested to drop him as a client. Mike stated that he was “out of money” in response to these claims.
🌟 Rise and Fall
Mike Lindell’s journey has been marked by both success and controversy. He started My Pillow in 2005, transforming from a college dropout to a thriving entrepreneur. In 2008, he overcame a severe addiction to crack cocaine and turned his life around. Between 2009 and 2016, My Pillow and Mike himself were symbols of recovery and achievement. His commercials were ubiquitous, and his net worth reached an estimated $200-300 million.
🛍️ Retail Success
During his peak, My Pillow’s products were best-sellers at major retailers like Walmart, Bed Bath & Beyond, Kohls, HEB Stores, Wayfair, and the Canadian Shopping Channel. In 2017, the company’s value was estimated to be around $500 million based on comparable company valuations.
🔥 Controversial Path
In recent years, Mike Lindell became known more for his vocal and controversial support of Donald Trump and the propagation of false conspiracy theories related to the 2020 presidential election. His involvement in attempts to overturn the election and financial support of such efforts led to many retailers discontinuing My Pillow products, including Walmart.
🗳️ Political Aspirations
In November 2022, Mike Lindell announced his candidacy for Chair of the Republican National Committee. However, his bid was unsuccessful, receiving only four out of 167 votes cast on January 27, 2023.
🌟 Early Life
Mike Lindell, also known as Michael James Lindell, was born on June 28, 1961, in Mankato, Minnesota. He spent his formative years in Carver and Chaska, Minnesota, and during his teenage years, he developed an interest in gambling. After completing high school, Mike briefly attended the University of Minnesota but decided to drop out just a few months later.
🚬 Battle with Addiction
In his twenties, Lindell fell into the grip of cocaine addiction, and in the 1990s, he turned to using crack cocaine. His struggles with substance abuse and mounting gambling debts took a toll on his personal life, leading to the end of his first marriage and the foreclosure of his home. The severity of his drug addiction became evident when, in 2008, his crack dealers organized an intervention. According to Lindell, “They were three of the biggest dealers in the cities. They said I had been awake for 19 days straight. They refused to sell to me again. One of them tried babysitting me until I fell asleep.” It was during this challenging period that Mike Lindell found solace in prayer, helping him achieve sobriety in 2009.
🛌 My Pillow
In the 1980s, Mike ventured into several small businesses in Minnesota, including bars, restaurants, and a carpet cleaning enterprise. However, in 2004, he conceived the idea for the My Pillow pillow. Over the subsequent years, he promoted and sold the product at trade shows, mall kiosks, and state fairs. In 2009, he formally established My Pillow, Inc. The turning point for the company came in 2011 with the airing of its first infomercial, which cost $500,000 to produce and was broadcast approximately 200 times a day. Lindell described it as follows: “It became the number one infomercial in the world. In 40 days, we went from five employees to 500 Mike Lindell Net Worth, Family, Political Controversies, and Social Media Presence.
Mike Lindell’s net worth timeline?
|Year||💰 Net Worth|
|2023||💰 $40 Million|
|2015||💰 $72 Million|
|2010||💰 $51 Million|
|2005||💰 $22 Million|
|2000||💰 $6 Million|
📊 Peak Success
During its peak, My Pillow, Inc. reportedly achieved an annual revenue of $280 million. As of the latest available information, the company has sold over 50 million pillows and employs a workforce of more than 1,600 individuals.
❌ Better Business Bureau Accreditation Revocation
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.
👨👦 Leadership Change
In 2020, Mike appointed his son, Darren Lindell, as the CEO of the company. However, by 2021, many retailers had discontinued My Pillow products. While Lindell believed this was due to his claims of voter fraud in the 2020 election, a Bed Bath & Beyond spokesperson cited the decision as part of discontinuing “underperforming items and brands.”
📱 FrankSocial and Technical Challenges
In March 2021, Lindell announced the launch of a social media platform named Vocl, later renamed Frank. The platform aimed to blend features of Twitter and YouTube. Despite technical difficulties, FrankSocial was launched in April 2021, with Lindell having the most followers among users as of April 2022, at 308 followers.
💸 Lost Revenue and Financial Struggles
In December 2021, Mike Lindell disclosed that he had spent between $25 million and $50 million of his personal funds from November 2020 to December 2021 in an attempt to substantiate claims of election fraud. The fallout from his public statements about the election resulted in many retail stores removing My Pillow products from their shelves. This had a substantial negative impact on My Pillow’s sales, with Lindell estimating a loss of over $100 million in annual revenue by January 2023 Mike Lindell Net Worth, Family, Political Controversies, and Social Media Presence.
🏦 Banking Challenges
In January 2022, one of Lindell’s personal banks, the Minnesota Bank & Trust, labeled him a “reputational risk” and subsequently terminated its banking relationship with him.
🛒 Walmart’s Discontinuation
In June 2022, Walmart, the largest distributor of My Pillow products, ceased selling the company’s products in its stores.
💰 Financial Strain and Borrowing
By March 2023, Lindell admitted to having borrowed $10 million in 2022 to sustain My Pillow’s operations. He also revealed that he had been selling assets and personally borrowing money in an effort to maintain liquidity, stating, “I sold a building I had in Savage, in Minnesota, in October. And I had to borrow $2 million too. I’ve spent it all fighting for this country.
✈️ Private Jets
Mike Lindell is frequently seen on social media traveling aboard one of his private jets.
In July 2021, reports emerged that MyPillow had sold a 1993 Dassault-Breguet Falcon 50 private jet. This 10-passenger aircraft boasts the ability to cover the distance from LA to NYC in just 5 hours, reaching a top speed of 539 mph. Similar models, depending on factors like age, mileage, and condition, typically sell for anywhere between $1.5 million and $3.5 million.
In a March 2023 interview, Mike hinted that he still owned at least one other private jet.
💰 Mike Lindell Net Worth
📸 Personal Life: Mike Lindell tied the knot with Karen Dickey on May 9, 1987, and together, they welcomed four children: Lizzy, Heather, Darren, and Charlie. After two decades of marriage, Lindell and Dickey went their separate ways. Subsequently, Mike married Dallas Yocum on June 8, 2013, but their union was short-lived, as Yocum left him the following month.
In early 2021, the “Daily Mail” reported that Mike had been in a nine-month relationship with actress Jane Krakowski, starting in late 2019. However, Krakowski’s representative vehemently denied the claim, asserting that she had never met Mr. Lindell and had no romantic involvement with him. Lindell also contested the allegations and filed a lawsuit against the publication Mike Lindell Net Worth, Family, Political Controversies, and Social Media Presence.
In March 2021, during an appearance on “The Domenick Nati Show,” Mike revealed that he had been living in undisclosed locations due to concerns about his safety. He stated, “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.” On January 17, 2023, during the swearing-in of Dan Patrick as Lieutenant Governor of Texas, it was disclosed that Lindell had relocated to Texas several years earlier.
In 2012, Mike founded the non-profit organization known as the Lindell Foundation, which aimed to assist individuals struggling with drug addiction in obtaining treatment. Subsequently, in 2019, he launched the Lindell Recovery Network, a project designed to “help struggling addicts find hope, restoration, and the love of Jesus.”
In 2019, Mike authored the book “What Are the Odds? From Crack Addict to CEO.”
🏡 Minnesota Mansion
In August 2016, Mike purchased a 5,400 square foot mansion on 2.5 acres of land in Chaska, Minnesota, for $745,000. However, in September 2022, he listed the property for sale at $1.1 million. Ultimately, in December 2022, Lindell accepted an offer of $945,000 for the residence.
Donald Trump Support
Lindell became a fervent supporter of Donald Trump after their meeting in August 2016. In his own words, “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.” Mike attended numerous events related to Trump, including the final presidential debate, Trump’s inauguration, Trump rallies, and the 2019 Conservative Political Action Conference.
In 2019, he engaged with Trump on the issue of opioid addiction and was present when the then-president signed the SUPPORT for Patients and Communities Act, focusing on opioid use disorder. During the early stages of the COVID-19 pandemic, Lindell shifted the production focus of My Pillow factories from bedding products to face masks, at the request of the Trump administration. Around that time, he appeared at a White House COVID-19 press conference and served as the Minnesota campaign chair for Trump’s 2020 re-election campaign. During the pandemic, Mike also promoted oleandrin, a toxic plant extract, as a potential cure for COVID-19, and he became a board member of Phoenix Biotechnology, a company producing oleandrin-containing products.
🗳️ Election Conspiracies
Following Joe Biden’s victory over Trump in the 2020 election, Lindell was actively involved in supporting efforts to challenge the election results. He sponsored a bus tour aimed at challenging the election results, with Lindell himself speaking at several stops on the tour. While Mike attended the rally preceding the January 6th attack on the U.S. Capitol, he maintained that he was not present at the insurrection. Nevertheless, he propagated conspiracy theories suggesting that Antifa was behind the attack, potentially “dressed as Trump people.
Mike also advanced unfounded conspiracy theories involving Smartmatic and Dominion voting machine companies collaborating with foreign entities to manipulate their machines and influence the election outcome. In response, Dominion filed a $1.3 billion defamation lawsuit against Lindell. Consequently, in January 2021, these false claims resulted in Lindell’s permanent ban from Twitter.
In September 2021, Bonner County, Idaho, initiated a recount of ballots cast in the 2020 election following Lindell’s claims of hacking in more than 40 Idaho counties. The recount ultimately found a margin of accuracy within 0.1%, with no evidence of hacking. Idaho’s Chief Deputy Secretary of State, Chad Houck, announced that Mike would be billed for the recount’s cost.
In 2021, Mike directed, produced, and appeared in the documentary “Absolute Proof” in an attempt to substantiate the claim that Trump had 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 being livestreamed on the One America News Network website.
💸 $5 Million Challenge Lawsuit
In August 2021, Mike conducted a three-day “Cyber Symposium” to present “irrefutable evidence” of voter fraud, which he ultimately failed to produce Mike Lindell Net Worth, Family, Political Controversies, and Social Media Presence.
As part of the symposium, he launched the “Prove Mike Wrong Challenge,” offering a $5 million reward to anyone who could disprove his data concerning the 2020 election. A cybersecurity expert named Robert Zeidman accepted the challenge and conclusively debunked the data. However, Lindell subsequently refused to honor the $5 million reward, leading Zeidman to file a lawsuit. In April 2023, an arbitration panel affirmed Zeidman’s work and ordered Lindell to fulfill the payment, stating Mike Lindell Net Worth, Family, Political Controversies, and Social Media Presence.
Despite recent statements suggesting otherwise, Mike Lindell insisted on Thursday that his business, MyPillow, is not on the verge of going out of business. Lindell owes much of his fame and capital to the founding of the company, which sells a special pillow filled with interlocking pieces of shredded foam Mike Lindell Net Worth, Family, Political Controversies, and Social Media Presence.
Personal life: Mike Lindell has been married twice. His first marriage ended in divorce after approximately 20 years, and he has children from this marriage. He married Dallas Yocum in June 2013 and filed for divorce in mid-July 2013 after she left him.
🛏️ Many customers have purchased it with the hope of addressing sleep-related issues, such as insomnia, neck pain, or snoring. Among the 18 individuals we surveyed, half reported significant improvement, 17 percent experienced some relief, while 33 percent didn’t find it effective. Only one-third of the respondents expressed an intention to repurchase a My Pillow Mike Lindell Net Worth, Family, Political Controversies, and Social Media Presence.