Lately, Mike Lindell became the center of discussion after he started asking questions about electronic voting machines. In support of Donald Trump, he quoted many false certitudes about the votes that Donald Trump got in a recent election. But on the other hand, his company gets the advantage of this as it gets increased by a little margin.
Although, in a recent interview held with Insider, Lindell stated, “MyPillow is actually facing a financial crisis, and our company is expected to lose $65 million in pillow revenue this year alone.” So, now the question arises: what is the financial condition of My Pillow? And how is it doing financially? To know the answer to all the queries, just have a look at this article. Here you go!
What is the current status of MyPillow?
CEO and founder of MyPillow Mike Lindell say that he is to lose $65 million in pillow revenue this year because of his views over the claim that the U.S.election of 2020 was rigged is being criticized by retailers. Lindell told Insiders in an interview that being served with a slander lawsuit from Dominion Voting Systems seeking $1.3 billion in loss is proof that he wasn’t pushing election- fraud assertions just for the sake of the money.
“I lost 20 retailers, and it’s cost me $65 million this year that I won’t get back, OK?” Lindell told Insider. “There’s your story. Print it right. Don’t try and twist this.” After this loss, it continued and stuck with Mike Lindell. The 121- page legal action alleges that the pillow tycoon has used fraud theories to increase his sales for his company by using codes like discounts and exchanging costly advertisements with like-minded media platforms.
“Lindell—a talented salesman and former professional card counter – sells the lie to this day because the lie sells pillows,” Tom Clare, the defamation attorney representing Dominion Voting Systems, wrote in the lawsuit.
A federal judge ordered the company to pay some of Smartmatic’s fees and court costs because of the charges that were enforced against the well-known company MyPillow. He couldn’t pay his debt, which led him into deep trouble, and now facing a financial crisis.
Also read: The 6 things you should know about the My Pillow guy, Mike Lindell
Is MyPillow facing financial trouble?
Mike Lindell, founder, lead investor, and CEO of the company MyPillow has made his business successful with his continuous hard work, perseverance, and patience. With the passage of time, Mike Lindell broadened his all the way and up to date his company has sold nearly $100 million worth of pillows along with this MyPillow has gained huge revenue of $280 million a year.
Lindell burned the midnight oil and expanded into beds, pet beds, and linen. In an interview with CNBC, Mike said that “I look back now, and I go, ‘The only way that we were able to do that was divine intervention.” MyPillow is a renowned company in America and is also doing well as a company. It is a famous brand that is making good profits with great customer satisfaction but it is currently facing financial issues because of allegations made against it.
MyPillow is one of the most well-known pillow manufacturing companies in America. It is an American-based company which is located in Chaska, Minnesota. Mike Lindell is the CEO and founder of the company. He founded this company in the year 2009, and after some years, he patented his company as MyPillow, an open-cell, and poly-foam pillow design.
In the early days, when he had established his company and was not successful, he used to sew the pillows himself, and with the help of his family’s support, Mike could sell handmade pillows. After some years, he sold his products through a different platform titled Lindell’s Night Moves Minnesota, LLC.
Mike Lindell did this from 2004 to 2009, and then, in the same year of 2009, they started selling their products through MyPillow, Inc. To date, MyPillow has sold nearly 41 million pillows, which is a huge success in itself, and most of its sales come from TV commercials. As his business was not too successful in the beginning but with his continuous efforts and hard work, he organized nearly about 1500 employees in his company.
Mike made his company touch the high sky with his continuous efforts and perseverance and achieved great heights in his business. At present, the net worth of MyPillow company is approximately $170 million, which is a huge amount in itself.
About Mike Lindell
Mike Lindell (Michael James Lindell) was born on 28th June 1961 and is an American businessman, political activist, and far-right conspiracy theorist. He is known by another name ‘My Pillow Guy’ and is also the founder and CEO of My Pillow, a pillow, bedding, and slipper manufacturing company. Lindell is a well-known supporter and advisor of the former president of the U.S. Donald Trump and a bosom friend.
He was one of the supporters who supported and financed Trump’s attempt to overturn the result of the presidential election of 2020. Mike also spread false theories about global election deceit in that election. He has also participated enthusiastically in promoting the toxic plant extract oleandrin as a substitute medicine cure for COVID-19.
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