Mattress Mack Net Worth 2023

Net Worth:	$310 Million
Name:	Mattress Mack
Salary:	$30 million +
Monthly Income:	$2.5 million +
Date of Birth:	February 11, 1951
Age:	72 Yrs
Profession:	Businessman
Nationality:	American

As of 2023, Mattress Mack net worth is  $310 million. James Franklin McIngvale, commonly known as Mattress Mack, is an American businessman and philanthropist. He is the owner of Gallery Furniture, a retail chain based in Houston, Texas.

Moreover, McIngvale has gained a reputation for his generous philanthropic efforts and his large sports bets, including his recent Super Bowl LVI wager.

Mattress Mack Net Worth

Mattress Mack, is one of the businessmen in the nation as of June 2022, As of 2023, Mattress Mack net worth is $310 million or more than a fortune from his furniture company. He is a Gallery Furniture Retail Chain owner. In addition, he has created films such as Sidekicks.

Despite his diminished value following Donald Trump’s presidential election, he has appeared in many commercials and recovered from the loss through his business. In addition, he places big wagers on major league sports, which increases his wealth.

Mattress Mack Net Worth in Previous Years

Mattress Mack Bio

Mattress Mack was born on 11th February 1951, He was born in Starkville, Mississippi. His father was George Critz Mclngvale and his mother, was Angela McIngvale.

Therefore, James Franklin McIngvale, when little was brought up by his family in Mississippi. He relocated to Texas and attended a university there after finishing high school and continued to pursue his education.

Also, he met and fell in love with his wife there, and they got married. James can enjoy his retirement and spend quality time with his four kids and six grandchildren.  However, James was always on the leading edge in terms of both intelligence and behaviour. Although he played high school football, business has always been the focus of his career.

Therefore, After graduating from bishop lynch high school in Dallas he attended north texas state university. Now, we know that at the University of North Texas, where he played football which was his favourite sport when he was younger.

He played football for the University of North Texas while he was a student in 1969, 1970, 1972, and 1973, respectively. So, when he graduated from college, Mack got a job at a store where his manager once did him a favour by firing him.

Career 

Mattress Mack’s career in business began in 1981 when he started Gallery Furniture from the back of his truck. Also, his capital of $5,000 now pales in comparison with the value of the Gallery Furniture retail chain. The business pulls in several hundreds of millions of dollars in revenue. However, the business almost didn’t make it. It ran into trouble by 1983 because of the oil industry crash.

Mattress Mack decided to make a commercial with his remaining $10,000. However, the commercial was a great success and bore the phrase, ‘Gallery Furniture saves you money!’ Mack had said the statement after multiple frustrating takes. Since then, it became the company’s tagline and Mack’s trademark.

However, we know Mark for his generosity and often place large bets on his beloved team, Houston Astros. Also, he is famous for refunding customers millions of dollars from purchases after losing bets. The biggest amount he had to refund customers was $20 million.

Mattress Mack Income

McIngvale has several sources of income, he also places bets on sports events some of which he has won and lost too. However, Jim is well-known for being an avid Astros supporter who doesn’t mind taking chances when it comes to sports betting.

When the Seattle Seahawks won the Super Bowl in 2014. However, the business offered a deal where customers could get a refund on any purchase over $6,000. Following the Seahawks’ victory, Mattress Mack was forced to refund customers for furniture over $7 million.

So, Jim launched a campaign that offered a return worth up to $3,000 on the sales price of every mattress set that had been purchased within that period beginning in January 2019. It came out that the liability for the company was $20 million.

Sports Refunds and Bets

However, the company ran a promotion for Super Bowl XLVIII in 2014 that offered a refund on any purchase above $6,000 if the Seattle Seahawks won. As the Seahawks won, Mack refunded a reported amount of $7 million of furniture purchases.

Therefore, Mack is a huge fan of the Houston Astros and we know him for making massive bets on the team. In 2017, after the Astros won the World Series, he refunded $10 million on customer purchases. So, during the start of the 2019 season, Mack carried out a promotion where customers would get a refund of any mattress for up to $3000 that season.

This created a liability worth $20 million as the Astros won the World Series. To decrease his potential losses, Mack started making bets that the Astros would win the series. By October 2019, the night of game 6, he had bet $13 million upon a series of bets. The Astros were beaten in the series, which cost Mack $13 million.

As it was mentioned earlier in the piece, before the Astros encountered the Braves in the 2021 World Series, Jim bet $3.45 million at a half dozen sportsbooks on the Astros to gain victory. If the Astros are successful, the payout would generate a profit of $35.6 million. Also, Jim reported his store refund promotion would cost him a bit more than $20 million. 

Charity

Mattress Mack allowed his stores to be utilised as shelters for people during the onslaught of Hurricane Harvey in August 2017. Then, in 2019, when the majority of Houston flooded amidst Tropical Storm Imelda, he yet again allowed Gallery Furniture stores to be utilised as shelters and locations for free meal services.

In 2021, during the Texas Power Crisis and Hurricane Ida, Mack allowed his stores to shelters and sources of meals and other emergency amenities, not only in Texas but also at his Louisiana locations.

Mattress Mack Assets

Home

 Mattress Mack is a successful businessman from the United States who is famous for his wealth. Mack owns several more items in addition to a sizable residence in Houston. He owns several properties, including those in Starkville, Los Angeles and Dallas 

Cars

Mattress Mack is one of the richest men in the US. He has accomplished several noteworthy feats and is a prosperous businessman. Mack is a car nut who has accumulated a sizable collection. He has a large collection of expensive automobiles, including Rolls Royces and Bentleys calamities in Houston and Texas. Mattress Mack is truly a legend and an idol for many. 

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