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Jim McIngvale Net Worth, Biography, Wiki in 2017-2016

How rich is Jim "Mattress Mack" McIngvale?

Jim "Mattress Mack" McIngvale net worth:
$75 Million

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Jim McIngvale Net Worth, Biography, Wiki 2017-2016

Jim McIngvale was born on the 11th February 1951, in Starkville, Mississippi USA, and is a businessman, best known for his furniture retail chain called Gallery Furniture, which he established in 1981.

Have you ever wondered how rich Jim McIngvale is, as of mid-2016? According to authoritative sources, it has been estimated that Jim McIngvale’s net worth is as high as $75 million, an amount he has earned through 35 years of successful business. In addition to owning lucrative retail shops, McIngvale also published a book “Always Think Big” in 2006, which further improved his wealth.

Jim McIngvale Net Worth $75 Million

Jim McIngvale grew up in Texas and went to the Bishop Lynch High School in Dallas. He started his business in 1981 with $5,000 and his pickup truck, following the backing up of a potential investor who decided not to allow him money. The Gallery Furniture had a pretty good start, but with the crash of the oil business his sales dramatically declined, and McIngvale was forced to invest his last $10,000 in advertising on local TV stations in 1983.

With the catchphrase, ‘Gallery Furniture saves you money!’, that was well received among the Houston residents, McIngvale’s business started to bloom, and at the moment, the store has over $200 million in sales per year. In 2009, a fire took place in one of the stores around Houston, but luckily no one was hurt however the fire destroyed most of the warehouse. It was concluded that the fire was arson, and after few weeks, a suspect Robert Gillham was arrested, but since he was deemed mentally unfit to stand trial, the authorities released him.

Jim McIngvale is well-known for his distinct and unorthodox advertising. In 2014, a couple of weeks before the Super Bowl XLVIII between Seattle Seahawks and Denver Broncos, McIngvale offered all customers a special refund for purchases of more than $6,000 if the Seahawks won the game. After Seattle had destroyed Denver, he paid over $7 million in refunds and stated that he had customers for life with this kind of policy.

A similar offer occurred in 2014 for the celebration of his 63rd birthday; Jim offered a refund for the first 500 customers who buy the furniture for $6,300 or more in case the baseball team Houston Astros record 63 wins in a regular season. In this case, luckily for him, the Astros failed to do it, so McIngvale saved over $4 million.

Regarding his personal life, Jim McIngvale is living with his wife Linda in Houston – they have three children. He is a prominent philanthropist; in 2007, he organised a fundraising event at his shop to collect money for The Salvation Army, and many people gathered to give their contribution, including the former US President George H.W. Bush and former First Lady Barbara Bush; McIngvale donated $50,000 of his money to the cause. He also gave a reasonable amount of money to the University of Texas Health Science Center at Houston Medical School in 2014. McIngvale is a well-known Republican, and he supports the Tea Party movement and is also helping them with occasional donations.


More about Jim "Mattress Mack" McIngvale:

  • Filmography
  • Awards
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Actor

Actor

TitleYearStatusCharacter
Sidekicks1992Lauren's Brother

Producer

Producer

TitleYearStatusCharacter
Sidekicks1992executive producer

Self

Self

TitleYearStatusCharacter
WWF Raw2000TV SeriesHimself - Audience Member

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#Fact
1Release of his book, "Always Think Big" by Jim with Thomas Duening and John Ivancevich. [March 2002]
2His daughter, Laura, appeared in a commercial for their family business, "Gallery Furniture".
3Celebrating the 30th anniversary of the opening of "Gallery Furniture" in Houston, Texas [2011].
4His daughter, Laura Brown, gave birth to Jim's first grandchild, a girl named Sydney Ruth Brown.
5His daughter, Laura McIngvale Brown, and her husband, chef Phillip Brown, are partners with Vince Young of Young's "Vince Young Steakhouse".
6Originally from Dallas, he went to college at the University of Texas where he played football though he mostly rode the bench. He was a member of the 1969 Longhorn's national championship team.
7After college, he was involved in various unsuccessful endeavors and ended up almost 30 years old, broke, without a car and working in a convenience store. After getting fired, he decided it was time for an attitude change and got a job working for a furniture store on the other side of Dallas from where he lived. He learned the furniture business and developed better work habits. He decided to go into the furniture business for himself. His brother, who was living in Houston, found the perfect location for him -- the abandoned model home park which became the first location of Gallery Furniture. He and his new wife, Linda McIngvale moved to Houston.
8The cause of the fire at the Gallery Furniture warehouse was declared arson by ATF on May 28, 2009.
9He has a five-car garage for his Ferrari collection. He is one of the largest owners of thoroughbred racehorses in Kentucky. His goal is to win the Kentucky Derby. He got into horseracing because his daughter and sister-in-law both liked horses.
10The warehouse at the original location of Gallery Furniture in North Houston burned down on May 21, 2009, but the showroom was spared.
11Was a supporter of Mitt Romney's 2008 presidential campaign.
12Father of three children. His youngest daughter, Elizabeth McIngvale, is the founder of "Peace of Mind", a non-profit organization devoted to the research and cure of Obsessive Compulsive Disorder, having struggled with OCD, herself, for several years. His son is named James McIngvale, Jr. and his older daughter is named Laura McIngvale Brown.
13Opened his second Gallery Furniture store in the Galleria area of Houston, Texas in March, 2009.
14Friend of Steffi Graf and Andre Agassi through his Westside Tennis Club.
15Heavily involved in charity and sports in Houston, Texas.
16Owner of Westside Tennis Club in Houston, Texas.
17Owner of Gallery Furniture (which he opened in 1981) in Houston, Texas.


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