General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsPrediction: Hysterical zealot Mike Lindell will flush all his vast wealth down the toilet
as he chases the white whale of election fraud.
And he will be ruined and in debt just like he was 10 years ago.
Irish_Dem
(45,640 posts)His wealth, family, friends, etc are going to take major hits.
He has gone crazy.
demtenjeep
(31,997 posts)or arm
liberaltrucker
(9,129 posts)nt
Srkdqltr
(6,129 posts)Squinch
(50,774 posts)FakeNoose
(32,356 posts)... like the Goya guy got. Too late now Mikey!
Stinky The Clown
(67,697 posts)cwydro
(51,308 posts)Something weird about him even more than his love for the tangeranus.
ProfessorGAC
(64,425 posts)The commonly reported $300 million is taken from his Wikipedia page.
There are VERY few Wiki pages that list the person's net worth.
There is suspicion that number was added by Mikey, himself.
The financials of the company don't support sufficient net income for him to have built a $300 million fortune in 12 or 13 years.
I suspect this is a flailing attempt to cement his brand with the radical right, because debt service is greater than risk assessments deduced. (Sound familiar?)
With revenues falling, debt service oppressive and the brand toxic, he's grifting.
And he doesn't fear the lawsuit, because he just emptied the piggy bank on his dumbass documentary. Remember, he welcomed the lawsuit. Sound like a guy with nothing to lose.
TexasBushwhacker
(20,044 posts)He started with MyPillow, which seems to be a love it or hate it product, but he has an "F" rating with the Better Business Bureau because he doesn't always honor his "buy one, get one free" offers, or his return policy.
Now he has MyPillow Sheets and MyPillow Towels. The sheets are 100% Egyptian cotton, 400 thread count - nothing really exceptional. $100 for queen size (regular price is $200) The instructions say to iron them on low. Iron my sheets?
He backs both sheets and towels with a 10 year warranty. Who expects sheets or towels to last 10 years?
He invented MyPillow in 2004. He become sober and born again in 2009. That's right. He invented MyPillow while he was still a crackhead.
I find it interesting that Mr. Christian Mike Lindell had his second wife sign a prenuptial agreement. She left him after 6 weeks.
BTW, my Trumpvangelical wife of the boss just ordered $250 worth of stuff from his website because he's a "patriot".
ProfessorGAC
(64,425 posts)That company was incorporated in 2008. So, for the first 5 years, he was a "company" selling pillows at a mall kiosk. Not "titan of industry" stuff.
The value of the company is $150 million with a D/E of 4.8. That puts equity at under $26 million.
Revenues are $152 million in the prior 12 months as of Dec 1 last year. They claim 1,500 employees. So, margins before SG&A likely don't exceed 20%. That's $30 million before advertising, debt service ($4.5-5 million) and administrative overhead.
It's very unlikely that even at current revenues, the after tax profit is $10 million. Even if he gets it all, there isn't time to accumulate $300 million in net worth in 13 years, because 13 years ago revenues were much lower.
The comparison to T%+$p is apt, primarily because they both lie about how much they're worth.