Mattress Mack: His Net Worth As A Successful Businessman

Jim McIngvale, better known as “Mattress Mack,” is a businessman from Houston, Texas. He was born on February 11, 1951. He is most known for being the owner and operator of the Gallery Furniture retail business.

Mattress Mack Jim McIngvale
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What You Should Know About Mattress Mack

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Jim McIngvale was born in Starkville, Mississippi. He played football at North Texas State University, now the University of North Texas, in Denton after graduating from Bishop Lynch High School in Dallas. He and his wife are the parents of four children.

Mattress Mack is also renowned for placing enormous wagers on sporting events, especially on the Houston Astros. If the Astros win, he often runs discounts at his stores where clients may get their money back on newly purchased mattresses. To offset the cost of the campaign, he places hefty bets on the Astros.

Mattress Mack, for example, spent $3.45 million over a half-dozen sports books leading up to the World Series in 2021, when his Astros faced the Braves. Winning the bet would result in a record-breaking profit of $35.6 million, with almost $22 million coming from the Caesars SportsBook in Las Vegas. He projected that it would cost $22 million to cover his mattress marketing.

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How He Became Mattress Mack

In 1981, Jim started Gallery Furniture with $5,000 in his savings and a pickup truck. During those early months and years, the business developed slowly but steadily, but when the oil industry crashed, so did nearly every retail firm in Texas.

Jim invested his final $10,000 in a series of local television commercial spots in 1983. He became irritated during the production of one of those advertisements and began to remove money from his pockets while proclaiming, “Gallery Furniture saves you money!” The line was a big hit with the crowds, and it became his distinctive catchphrase. The company began by focusing on low-cost, low-end furniture, but over time expanded into higher-end categories.

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Mattress Mack’s Success

Gallery Furniture has grown to become one of the country’s most successful independent furniture businesses. Its stores have had the highest sales per square foot of any retailer in the United States at various times. The corporation makes $200 million in annual revenue, according to reports from 2005. Annual revenue was estimated to be around $150 million in 2015 by an updated report.

As A Philanthropist

During Hurricane Harvey in August 2017, Jim permitted his stores to be utilized as shelters for people. When Tropical Storm Imelda inundated most of Houston in 2019, he enabled Gallery Furniture outlets to be used as shelters and venues for free meal offerings once again.

During the Texas Power Crisis and Hurricane Ida in 2021, Jim opened his stores to serve as shelters, food distribution centers, and other emergency services, not only in Texas but also in Louisiana.

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Sports Refund And Bets

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For Super Bowl XLVIII in 2014, the company launched a deal giving a refund on any transaction over $6,000 if the Seattle Seahawks won. Mattress Mack ended up refunding an estimated $7 million in furniture purchases after the Seahawks won.

Jim is a die-hard Houston Astros fan who is known for placing huge bets on the team. He returned $10 million in consumer purchases after the Astros won the World Series in 2017.

Jim advertised a promotion at the start of the 2019 season that would refund every mattress set purchased for up to $3000 that season. When the Astros won the World Series, this turned out to be a $20 million liability. To protect himself from potential losses, Jim began betting for the Astros to win the series. Jim has wagered $13 million over a series of bets by October 29, 2019, the night of game 6. The Astros eventually lost the series, which cost Jim $13 million.

As previously mentioned in this piece, he bet $3.45 million on the Astros to win the 2021 World Series against the Braves at a half-dozen sports bookies. The payoff would provide a $35.6 million profit if the Astros are successful. Meanwhile, he projected that his store return promotion would cost him just over $20 million, making it a true win-win-win situation if the Astros win. Several sports books actually offered to pay him less for his wagers before the World Series began. he turned down every offer.

2022 Super Bowl Bet

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Mattress Mack a.k.a Jim McIngvale bet $4.5 million on the Cincinnati Bengals to win Super Bowl LVI against the Los Angeles Rams in early February 2022. He placed the wager via the Caesars SportsBook app, which at the time was the highest mobile wager ever made. Because of the app’s per-wage limits, he had to load the bet in $20,000 increments. If the Bengals won, he would collect $7.7 million at the moment he placed the wager. Additionally, everyone who purchased $3,000 in mattress sets or living room furnishings would receive a refund.

Mattress Mack doubled down on his bet on the Bengals on February 11, betting another $5 million on the team. This was the largest single legal sports bet ever placed. If the Bengals win both bets, he will win $16.2 million in total.

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Mattress Mack’s Net Worth

Mattress Mack is an American businessman with a net worth of $300 million. He is most known for being the owner and operator of the Gallery Furniture chain in Houston.

His Political View

Jim McIngvale supported the Tea Party movement in 2010. He paid for full-page ads in the Houston Chronicle promoting the Tea Party. At Sam Houston Race Park, he was a featured speaker with numerous local conservative radio hosts for The North Houston Tea Party Patriots. McIngvale backed conservative Bill King over Sylvester Turner in the 2015 Houston mayor’s race. Turner came out on top in the election.

He endorsed Republican U.S. Representative John Culberson‘s reelection in 2018 and appeared in advertisements supporting him. Lizzie Fletcher defeated Culberson in the election. After supporting Bill King for mayor in 2015, McIngvale supports Democrat Sylvester Turner for reelection in February 2020.

Governor Greg Abbott appointed Jim McIngvale to the Strike Force to Open Texas in April 2020, a committee “tasked with identifying safe and effective means to gradually reopen the state” in the wake of the COVID-19 outbreak.

Who Is Mattress Mack’s Wife?

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Linda McIngvale is well recognized for her role as a celebrity companion. She is the wife of James Franklin McIngvale, also known as Mattress Mack, a well-known financial expert. Linda is also a free woman who has filled in as a maker. Side Kicks (1992) and Good Morning America (1975) are two of her notable works in the entertainment industry.

Linda McIngvale is also the founder and director of the Westside Tennis and Fitness Club. The primary goal of forming a group is to help those who are suffering from an emotional health disorder such as OCD. Linda has been a tremendous support to both her daughter Elizabeth and her significant other, James. Linda is the mother of three children. At this point, every one of them is an adult.

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Who Is Elizabeth McIngvale?

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Peace of Mind, a non-profit organization for people with obsessive-compulsive disorder, was founded by Elizabeth McIngvale (born in 1987). (OCD). She was diagnosed with OCD at the age of 12 and became the International OCD Foundation‘s national spokeswoman at the age of 18. She is the daughter of local businessman Jim McIngvale and his wife Linda and lives in Houston, Texas.

McIngvale’s OCD was once thought to be too severe to be treated by professionals. She had to repeat mundane things 42 times, had religious symbolic obsessions, and washed her hands over 100 times per day. For her OCD, she underwent exposure to response prevention (ERP) treatment and is now able to successfully control her condition.

She graduated from Loyola University Chicago with a bachelor’s degree in 2009 and a master’s degree in 2010. In 2014, she received her Ph.D. from the Graduate College of Social Work at the University of Houston. She is now a Baylor College of Medicine assistant professor. She sits on a number of non-profit organizations and is a national advocate and speaker for mental illness. Dr. McIngvale also established and manages the OCD Challenge, a free self-care website for OCD.

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Conclusion

Mattress Mack is a well-known and well-received figure in the United States. Throughout his career, he has achieved enormous success and recognition. Mack is a very humble person, despite his success and reputation. He has aided many people in difficult situations. During the severe disasters in Houston and Texas, Mack has supplied food and shelter to thousands. For many people, Mattress Mack is a legend and an icon.

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