Have you ever wondered how much the net worth of Mattress Mack is? If you want to get that information, you have to read this entire article. Here we will discuss the net worth of Mattress Mack and other information related to him.
Net Worth of Mattress Mack
James Franklin Mclngvale, also known as Mattress Mack, is an American businessman and author who has a net worth of $300 million. He is the operator and owner of Houston’s largest furniture store, Gallery Furniture. At this time, this furniture store earns $30 million annually. Based on the research, Mattress Mack started his Gallery Furniture store with $5000 cash in Houston. Before this entrepreneurship, he worked at a stationery store. However, his boss sacked him from work.
Here is Mattress Mack’s yearly, monthly, weekly, daily, and hourly income or salary:
- Yearly Income: $10 million
- Monthly Income: $833k
- Weekly Income: $208k
- Daily Income: $30k
- Hourly Income: $1240
Mattress Mack launched Gallery Furniture from his pickup truck in the year of 1981. His business grew slowly but surely. Two years later, in 1983, Mattress Mack took his last $10,000 and then invested in a series of local television commercial spots. During the filming of one of those places, Mattress Mack got frustrated while cameras were rolling, and proceeded to pull out money from his pockets while declaring “Gallery Furniture saves you money”. That line was a hit with the audiences and would become his trademark catch phrase. In its early days, the company focused on low-end and inexpensive furniture, however overtime branched out into higher-end lines.
How does Mattress Mack make money?
Mattress Mack is the owner of Houston’s largest furniture store named Gallery Furniture. He founded it in 1981 with only $5000 cash and a pickup. This company currently has 210 employees. Over 90 percent of Mattress Mack’s worth came through Gallery Furniture. According to reports released in 2005, the Gallery furniture generates $200 million in revenue per year. On other hand, an updated report in 2015 pegged annual revenue at around $150 million. Gallery Furniture is one of the most-successful independent furniture retailers in the country. Its headquarters is located in Houston, Texas.
Also, Mattress Mack invested in the Super Bowl. Mattress Mack won $3.46 million on Super Bowl bet although he has got a lot of losses. He has lost lots of super bowl bets. However, he loves to take risks. In the year of 2019, Mattress Mack bet $10.9 million on the Astros. Unfortunately, it went in vain. Again, Mattress Mack bet $3.3 million and won $7.7 million. When Astros lost to the Washington Nationals in Game 7, he lost $18.9 million in total. Nonetheless, Mattress Mack has made quite well through Super Bowl bets.
Sports Refunds and Bets
In the year of 2014, the company ran a promotion for Super Bowl (XLVIII) offering a refund on any purchase over $6,000 if the Seattle Seahawks won. Once the Seahawks ended up winning, Mattress ended up refunding an estimated $7 million of furniture purchases. Need to know that Mattress Mack is a massive fan of the Houston Astros, and he is popular for making very large bets on the team. In 2019 he put out a promotion that would refund any mattress-set purchased for up to $3000. This ended up being a $20 million liability once the Astros ended up making the World Series. To protect his potential losses, Mattress Mack began placing bets that Astros would win the series. On October 29, 2019, he had wagered $12 million over a series of bets. Mattress Mack kept upping the bet as the Astros fell behind 0-2. An Astros win would be worth $22 million to Mattress Mack which should more than cover his refund losses.
Early Life of Mattress Mack
Mattress Mack was born in Starkville (Mississippi) on 11 February 1951. His parents are Angela Mclngvale and George Mclngvale. Mattress Mack grew up in this Mississippi state. Talking about education, Mattress graduated from Bishop Lynch High School in Dallas. Later, Mattress Mack took higher education from the University of North Texas. Here, he played football. Since his childhood, he has been fond of football that made him interested in super bowl bets.
Career of Mattress Mack
Before beginning an entrepreneurship career, Mattress worked in a Stationary Store. Then, he shifted to a furniture store in the town. While working in the furniture store, Mattress Mack gathered business ideas and trades of the industry. After getting business ideas, he launched his Gallery Furniture store with a pickup and $5000 cash. His brother helped him in selecting the store location. Behind Gallery Furniture’s success, his hard work and unbroken commitment should be highlighted. In the year of 2009, Mattress Mack opened a branch to expand their ventures for their store. Now, Gallery Furniture is the largest retailer store in Houston having annual revenue of $30 million. The furniture store is operated by 210 employees.
We get information that Mattress Mack has grossed well through super bowl bets. Formerly, he lost lots of super bowl bets, however he never gave up his hope. Mattress Mack was polite in the policy of his business. Mack has won prestigious civilian awards. Receiving 5,115 daily points, he won the Points of Lights Award from President George Bush.
Where is Mattress Mack House Located?
Mattress Mack’s house is located in Pine Lake Trail, in Houston. Mattress Mack and his wife, Linda Mclngvale, are living in the house with their three children.
Does Mattress Mack have a son?
Yes, Mattress has a son named James Mclngvale. He and Linda Mclngvale married in 1981. They have a son and two daughters.
Who Owns Club Westside?
Linda Mclngvale is the operating member of Gallery Furniture. Also, she is the owner of the health and fitness club, Club Westside, which is located in Houston (Texas).
What is Elizabeth Mclngvale Net Worth?
Elizabeth Mclngvale is the daughter of Mattress and Linda Mclngvale. She is the writer of the Peace of Mind book. As an American activist, she owns a net worth of $7 million.