Jim Mc Ingvale’s Net Worth: Mattress Mack, Career, Success, and Many More Updates You Need to Know!

Jim McIngvale's net worth

Houston, the Texas-based businessman James Franklin McIngvale, better known as “Mattress Mack,” was born on February 11, 1951. For his work with Gallery Furniture, he is well-known.
McIngvale was born in Starkville, Mississippi, on February 11, 1951. After completing his high school education at Bishop Lynch High School in Dallas, he went on to play football at North Texas State University, which is now known as the University of North Texas, in Denton. They have four children together.

In his sales pitches, McIngvale’s catchphrase “saves you money!” is almost always used as a closing line. One of Gallery Furniture’s earliest incidents served as the inspiration for his unique sales approach, which he developed over time. When McIngvale ran out of money, he invested the entire $10,000 he had left in a television commercial that was to air on two Houston stations. Ad-libbing a sales pitch in the middle of the commercial production, he quickly spoke because of the short amount of time he had. The ad was a huge success, and sales skyrocketed as a result.

It was in 1992 that Jim and his wife Linda were executive producers of Chuck Norris’ action-comedy film Sidekicks[3] in exchange for Norris appearing in several television commercials for Jim and Linda-owned Gallery Furniture.

The Net Worth of Jim Mc Ingvale

The sum of $300,000,000

How Much Money Does Jim Mc Ingvale Make?

Known as Mattress Mack, Jim McIngvale is an American businessman with a fortune of $300 million. His most well-known business venture is the Houston-based Gallery Furniture chain, which he owns and operates.

Sports bets on the Houston Astros, in particular, are well-known by Mattress Mack. If the Astros win, customers can get a refund on mattresses they just bought from him, thanks to a promotion he runs in his stores. When the promotion costs more than he can afford, he places large bets on the Astros.

Mattress Mack wagered $3.45 million on a half-dozen sportsbooks prior to the World Series in 2021, when his Astros faced the Braves. At stake was a record-setting $35.6 million profit, with about $22 million coming from the Caesars Sportsbook in Las Vegas. He calculated that promoting his mattress would cost him $22 million in marketing expenses.

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Changing My Name to Mack the Mattress

In February 1951, Jim McIngvale was born in Starkville, Mississippi.

It was in 1981 that Jim started Gallery Furniture out of his pickup truck. He had $5,000 in savings. During those early months and years, the business grew slowly but steadily, but as the oil industry began to falter, so did nearly every retail business in Texas.

Jim invested his last $10,000 in a series of local TV commercials in 1983. When he became frustrated while filming one of the commercials, he proceeded to take money from his pockets and proclaim, “Gallery Furniture saves you money!” Audiences loved the line, and it would go on to become his signature catchphrase.

Over time, the company’s focus shifted from low-cost, low-quality furniture to more upscale offerings.

Success

In today’s market, Gallery Furniture is one of the most successful independent furniture retailers in the United States. Sales-per-square-foot for its stores has been among the highest in the US at various points. It is estimated that the company makes $200 million in revenue each year, according to reports from 2005. Annual revenue was estimated to be around $150 million in 2015, according to an updated report.

Bets and Refunds on Sports

If the Seattle Seahawks won Super Bowl XLVIII in 2014, the company offered a refund on any purchase over $6,000 that was made. A reported $7 million in furniture purchases were returned to customers after the Seahawks won the Super Bowl.

As a Houston Astros fan, Jim has a reputation for placing large bets on the team. Jim launched a promotion at the start of the 2019 season that would refund any mattress set purchased for up to $3000. When the Astros won the World Series, this turned out to be a $20 million liability. Jim began placing bets on the Astros winning the series as a way to protect himself from possible losses. In total, Jim had wagered $12 million by the time of game 6 on October 29, 2019. As the Astros went down 0-2, he kept increasing the bet. Jim stands to gain $22 million from an Astros victory, more than enough to cover his refund losses.

On the Other Hand, One’s Political Views

Jim McIngvale was a Tea Party supporter in 2010. In the Houston Chronicle, he paid for Tea Party full-page ads. The North Houston Tea Party Patriots invited him and other local conservative radio hosts to speak at Sam Houston Race Park.
McIngvale supported conservative Bill King over Democrat Sylvester Turner in the 2015 Houston mayoral race. Turner was elected to the position of mayor.

Culberson’s reelection was endorsed by McIngvale in 2018 and he appeared in campaign commercials for the congressman. Lizzie Fletcher defeated Culberson in the general election.

In February 2020, McIngvale endorsed the reelection of Democrat Mayor Sylvester Turner after endorsing Bill King for mayor in 2015.

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Citations Are Needed

During the COVID-19 pandemic, Texas Governor Greg Abbott appointed McIngvale to the Strike Force to Open Texas – a group “tasked with finding safe and effective ways to slowly reopen the state” – in April of 2020.

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