Net Worth Ranker
What Is Mike Lindell’s Net Worth?
As of today, Mike Lindell’s net worth is estimated to be $0. This figure represents a significant decline from his peak net worth, which at one time, easily topped $100 million and may have even been as high as $200-300 million. The vast difference is attributed to legal expenses, business downturn, and personal spending related to his involvement in election controversies.
Early Career and Rise of My Pillow
Mike Lindell’s journey began with the launch of My Pillow in 2005. In the early years, Lindell sold his My Pillow product at trade shows, mall kiosks, and state fairs. By 2009, he had established My Pillow, Inc., which gained significant traction following its first infomercial in 2011. The 30-minute infomercial cost $500,000 to produce and was aired approximately 200 times per day. Lindell has said of the infomercial, “It became the number one infomercial in the world. In 40 days, we went from five employees to 500.” At its peak, My Pillow generated a reported $280 million in revenue per year. The company has sold over 50 million pillows and employs more than 1,600 people.
Before controversies surrounding Mike Lindell’s claims regarding the 2020 election, his company, My Pillow, grossed $110 million per year. His products were best-sellers at retail stores such as Walmart, Bed Bath & Beyond, Kohls, HEB Stores, Wayfair, and the Canadian Shopping Channel. Based on comparable company valuations, My Pillow was estimated to be worth around $500 million in 2017. However, Lindell’s vocal and controversial support of Donald Trump and propagation of false conspiracy theories have led to a significant decline in his company’s financial performance and the reduction of Mike Lindell’s net worth.
Financial Decline and Legal Battles
In December 2021, Mike Lindell claimed in an interview that he had spent between $25 million and $50 million of his own money from November 2020 to December 2021 attempting to prove that the 2020 election was stolen from Donald Trump. His actions and claims resulted in many retail stores pulling My Pillow products from their shelves, causing a significant drop in sales. Lindell claimed that these actions caused My Pillow to lose over $100 million in annual revenue.
Adding to his financial woes, in January 2022, one of Lindell’s personal banks, the Minnesota Bank & Trust, reportedly described him as a “reputational risk” and subsequently dropped him as a client a month later. In June 2022, Walmart, My Pillow’s largest distributor, removed all of the company’s products from its stores. By March 2023, Lindell claimed he had been forced to borrow $10 million in 2022 to keep My Pillow afloat. He further claimed to have been selling assets and borrowing money personally to “stay liquid.” According to Lindell, he sold a building he had in Savage, Minnesota, in October and borrowed $2 million. The funds were used “fighting for this country.”
Mike has claimed that in 2023, his company is on pace to gross just $5 million, a 95% drop compared to previous years. Much of that drop occurred after his products were dropped from stores like Walmart and Bed Bath & Beyond. Mike Lindell’s legal troubles further contributed to the erosion of Mike Lindell’s net worth. In October 2023, his attorneys in a defamation case filed a claim that he owes millions in unpaid legal fees, and therefore they requested to drop him as a client. In response, Lindell claimed to be “out of money” and that he had “lost everything. Every dime. All of it is gone.” In August 2021, Mike held a three-day “Cyber Symposium” to present “irrefutable evidence” of voter fraud, which he never produced. He launched the “Prove Mike Wrong Challenge,” offering a $5 million reward to anyone who could debunk his data related to the 2020 election. A cyber security expert named Robert Zeidman debunked the data, but Lindell refused to pay the reward, leading to a lawsuit. In April 2023, an arbitration panel confirmed Zeidman’s work and ordered Lindell to make the payment.
Assets and Investments
On social media, Mike Lindell was often seen aboard one of his private jets. In July 2021, it was reported that MyPillow sold a 1993 Dassault-Breguet Falcon 50 private jet. The 10-passenger plane can travel from Los Angeles to New York City in 5 hours at a top speed of 539 mph. Similar models sold for $1.5 million to $3.5 million, depending on age, miles, and condition. In an interview in March 2023, Lindell implied that he still owned at least one other private jet.
In August 2016, Mike Lindell paid $745,000 for a 5,400-square-foot mansion on 2.5 acres in Chaska, Minnesota. He listed the home for sale in September 2022 for $1.1 million and ultimately accepted $945,000 in December 2022.
Philanthropic Efforts and Personal Ventures
In 2012, Mike Lindell founded the Lindell Foundation, a non-profit organization that helped drug addicts obtain treatment. In 2019, he launched the Lindell Recovery Network to “help struggling addicts find hope, restoration, and the love of Jesus.” He published the book “What Are the Odds? From Crack Addict to CEO” in 2019.
In March 2021, Lindell announced that he was launching a social media platform called Vocl, which would be a cross between Twitter and YouTube. He later changed the name to Frank because of a dispute with a company that had established a website called Vocal. Lindell spent four years developing Frank, which launched in April 2021 with numerous technical difficulties. As of April 2022, Lindell had 308 followers on FrankSocial, more than any other user. Mike also claimed to be spending $1 million per month at one point trying to launch and maintain his social media app, Frank Social.
Impact of Political Views and Controversies
Lindell became a Trump supporter after meeting with the then-presidential candidate in August 2016. He attended the final presidential debate and Trump’s inauguration. In 2019, he met with Trump about the issue of opioid addiction and was present when the SUPPORT for Patients and Communities Act was signed.
During the COVID-19 pandemic, Lindell temporarily changed the focus of the My Pillow factories from bedding products to face masks at the Trump administration’s request. He appeared at a White House COVID-19 press conference and became the Minnesota campaign chair for Trump’s 2020 re-election campaign. Lindell promoted oleandrin, a toxic plant extract, as a COVID-19 cure and is a board member of Phoenix Biotechnology, a company that manufactures products containing oleandrin.
After Joe Biden defeated Trump in the 2020 election, Lindell sponsored a bus tour to challenge the election results and spoke at a few stops. He attended the rally that preceded the January 6th attack on the Capital but claims he was not present at the insurrection. He spread conspiracy theories that Antifa was behind the attack and that Smartmatic and Dominion voting machine companies rigged their machines to steal the election, resulting in Dominion filing a $1.3 billion defamation lawsuit against him. Lindell was permanently banned from Twitter in January 2021 due to these false claims.
In September 2021, Bonner County, Idaho, began a recount of ballots cast in the 2020 election after Lindell alleged that more than 40 Idaho counties had been hacked. The recount concluded that accuracy was within 0.1%, with no evidence of hacking, and Idaho billed Lindell for the cost of the recount. In 2021, he directed, produced, and starred in the documentary “Absolute Proof” to prove that Trump won the 2020 election. Fact-checkers criticized the documentary for including “debunked, unsubstantial claims,” and it was removed from YouTube and Vimeo shortly after it livestreamed on the One America News Network website.
Summary of Mike Lindell’s Net Worth Trajectory
Mike Lindell’s financial trajectory has experienced a dramatic shift. From a peak net worth estimated between $200 million and $300 million around 2016-2017, his net worth has dwindled to an estimated $0 today. The decline can be attributed to a combination of factors, including decreased revenue for My Pillow following his controversial political views and claims about the 2020 election, substantial legal expenses related to defamation lawsuits and election challenges, and personal spending on ventures such as the Frank Social media platform. While Mike Lindell’s net worth was once a reflection of his success as an entrepreneur and the growth of My Pillow, it now reflects the financial impact of his choices and actions in recent years.
