Mike Lindell, an American entrepreneur, business executive, and outspoken political figure, is best known for founding MyPillow, a company that revolutionized the pillow industry with its unique product. His journey from struggling with addiction to achieving significant business success has been widely covered, painting a picture of resilience and ambition. At the height of his career, Mike Lindell net worth was estimated between $200 million and $300 million, showcasing his rise to financial prominence.
However, Lindell’s financial narrative has taken a dramatic turn in recent years. His involvement in controversial political activities, particularly his fervent support for former President Donald Trump and promotion of unfounded claims about the 2020 presidential election, has had a profound impact on his financial status. This shift has led to significant declines in both his company’s revenue and his personal wealth.
As of 2024, Mike Lindell net worth is reported to be effectively zero. This dramatic drop from his peak wealth is attributed to a series of events including the substantial legal costs associated with his attempts to overturn the 2020 election, the loss of major retail partners, and mounting financial pressures from ongoing lawsuits and personal expenditures.
Early Life and Background
Mike Lindell was born Michael James Lindell on June 28, 1961, in Mankato, Minnesota, and raised in Carver and Chaska, Minnesota. His early years were marred by challenges. Lindell struggled with a gambling addiction as a teenager and dropped out of the University of Minnesota after attending for only a few months. His battle with addiction would continue throughout much of his early life.
By his twenties, Lindell was addicted to cocaine and later escalated to using crack cocaine in the 1990s. His addiction and the associated debts led to the foreclosure of his home, and his first marriage ended in divorce. According to Lindell, an intervention in 2008 from his drug dealers, who refused to sell to him after he had stayed awake for 19 days straight, helped him find the strength to turn his life around. By 2009, through the power of prayer, Lindell claims to have quit his addictions to alcohol, cocaine, and crack cocaine.
| Category | Fact |
| Net Worth | $1 million – $5 million (approximate) |
| Source of Wealth | Racing, Endorsements |
| Nationality | British |
| Occupation | Professional Racing Driver |
| Age | 32 (as of 2024) |
| Residence | United Kingdom |
| Known For | Winner of GT Academy, competed in 24 Hours of Le Mans |
| Racing Series | GT World Challenge, Super GT, Formula 3 |
| Teams | Nissan, Kondo Racing, Carlin |
Career Beginnings and the Founding of MyPillow
Before starting MyPillow, Lindell ventured into various businesses, including running bars, restaurants, and a carpet-cleaning service in Minnesota. In 2004, Lindell developed the concept for the MyPillow pillow, a uniquely designed pillow aimed at providing better sleep quality. He founded MyPillow, Inc. in 2009, and the company gained massive popularity following its first infomercial in 2011.
The infomercial, which reportedly cost $500,000 to produce, became a huge hit, running an average of 200 times per day. Lindell has said that the commercial was the number-one infomercial globally, and within 40 days of its release, MyPillow grew from five employees to 500. At its peak, MyPillow generated a reported $280 million annually, selling more than 50 million pillows and employing over 1,600 people.
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Height of Success
Mike Lindell’s entrepreneurial journey, coupled with his personal story of overcoming addiction, made him a popular and inspirational figure. By 2016, MyPillow was in over 500 stores, including major retailers like Walmart, Bed Bath & Beyond, Kohl’s, and Wayfair. Lindell became a frequent guest on television shows and enjoyed a net worth estimated to be between $200 million and $300 million at the height of his success. The company’s valuation was estimated at around $500 million in 2017.
Political Involvement and Controversy
Mike Lindell’s prominence extended into politics after he became an outspoken supporter of Donald Trump during the 2016 U.S. presidential election. He attended the 2016 Republican National Convention, the 2017 presidential inauguration, and Trump rallies. In the aftermath of the 2020 U.S. election, Lindell became a vocal advocate for baseless conspiracy theories claiming the election had been rigged. He made unsubstantiated claims of widespread voter fraud involving Smartmatic and Dominion Voting Systems, which led to a $1.3 billion defamation lawsuit against him by Dominion.
Lindell’s involvement in these controversies led to a drastic decline in MyPillow’s business. Major retailers, including Walmart, severed ties with his company, leading to significant revenue losses. He also poured millions of dollars into efforts to prove election fraud and to launch his own social media platform, Frank Social, which failed to gain significant traction.
Financial Decline and Legal Troubles
By 2022, Mike Lindell’s fortune had dwindled significantly. He claimed to have spent $25 to $50 million of his own money on election fraud investigations and another $1 million per month to maintain his social media venture. The financial strain continued in 2023 when Lindell revealed that he was essentially “out of money.” His company, MyPillow, saw a 95% drop in sales, from a high of $100 million annually to just $5 million.
In October 2023, Lindell’s attorneys in the Dominion defamation case filed to withdraw, citing millions of dollars in unpaid legal fees. This added to his growing list of financial difficulties, including the selling of personal assets, borrowing money, and the selling of one of his private jets to keep MyPillow afloat.
Personal Life
Mike Lindell has had two marriages. He married his first wife, Karen Dickey, on May 9, 1987, and the couple had four children: Lizzy, Heather, Darren, and Charlie. After two decades of marriage, Lindell and Dickey divorced. Lindell remarried in June 2013 to Dallas Yocum, but the marriage lasted just one month before they divorced.
In early 2021, rumors circulated that Lindell had been in a romantic relationship with actress Jane Krakowski. Both Krakowski and Lindell denied the allegations, and Lindell filed a lawsuit against the publication that reported the claims.
Philanthropy and Advocacy
Lindell’s personal battle with addiction inspired him to help others. In 2012, he founded the Lindell Foundation, which focuses on helping drug addicts obtain treatment. In 2019, he launched the Lindell Recovery Network, an initiative aimed at providing hope and recovery resources to people struggling with addiction.
Lindell also authored a memoir titled What Are the Odds? From Crack Addict to CEO in 2019, chronicling his journey from addiction to becoming a successful businessman.
Mike Lindell Net Worth in 2024
As of 2024, Mike Lindell net worth is estimated to be $0, following his financial struggles stemming from legal issues, loss of business partnerships, and his investment in election-related conspiracy theories. He once had a personal fortune valued between $200 million and $300 million, but much of that wealth has been wiped out due to his legal battles, failed social media ventures, and the collapse of his business empire.
Final Thoughts
Mike Lindell’s story is one of remarkable highs and extreme lows. From building a pillow empire and inspiring millions with his story of recovery to facing legal challenges and losing much of his fortune, Lindell’s journey has been anything but ordinary. While he continues to be a polarizing figure, his legacy as a businessman, political activist, and advocate for addiction recovery remains noteworthy in the public eye.
Conclusion
Mike Lindell’s story is a tale of incredible highs and devastating lows. Rising from a difficult background of addiction, Lindell became an inspiring figure of recovery and entrepreneurship, building MyPillow into a multimillion-dollar business. However, his foray into politics, particularly his support for Donald Trump and promotion of baseless conspiracy theories about the 2020 U.S. presidential election, drastically altered his fortunes. As of 2024, Mike Lindell net worth has plummeted to zero, with his company, MyPillow, facing significant financial struggles.
Despite his downfall, Lindell remains a prominent figure due to his political activism, legal battles, and controversial efforts to challenge the 2020 election. His journey from a crack addict to a millionaire, only to lose it all, serves as a cautionary tale about the risks of intertwining business success with personal political agendas. While Mike Lindell’s future remains uncertain, his legacy as a once-successful entrepreneur who gambled everything on his beliefs will be remembered.
FAQs About Mike Lindell Net Worth
- What is Mike Lindell net worth as of 2024?
- As of 2024, Mike Lindell net worth is reported to be $0. At his peak, his net worth ranged between $200 million and $300 million, but he has lost most of his fortune due to legal expenses, business losses, and efforts to prove the 2020 election was stolen.
- How did Mike Lindell lose his fortune?
- Mike Lindell’s financial downfall was primarily caused by his involvement in spreading conspiracy theories about the 2020 U.S. presidential election. He spent millions on legal fees, efforts to overturn the election, and maintaining his social media platform, Frank Social. Additionally, major retailers like Walmart and Bed Bath & Beyond stopped selling his MyPillow products, resulting in significant revenue loss.
- Was Mike Lindell a successful businessman before his financial troubles?
- Yes, Mike Lindell was a highly successful entrepreneur. His company, MyPillow, once grossed over $100 million annually and sold more than 50 million pillows worldwide. At its peak, MyPillow was a major player in the retail market, and Lindell’s net worth was estimated at $200-300 million.
- What caused MyPillow’s decline in revenue?
- The decline in revenue was largely due to major retailers dropping MyPillow products after Lindell’s public endorsement of false claims related to the 2020 election. Many stores saw his controversial political stance as a liability, which led to a significant drop in sales.
- What is Mike Lindell known for besides MyPillow?
- Besides MyPillow, Mike Lindell is widely known for his strong support of former U.S. President Donald Trump and for spreading conspiracy theories related to the 2020 election. He has also authored a memoir, “What Are the Odds? From Crack Addict to CEO,” in which he details his journey from addiction to becoming a successful business owner.