American businessman Mattress Mack is the owner of the Gallery Furniture Retail Chain. He is worked on movies like “Sidekicks” and has been in several commercials. Recently he was in the news because he gambled away $4.7 million on a football game and lost. Always Think Big is a book he co-wrote with two people. Moreover, he is a staunch advocate of the tea party movement.
Mattress Mack Net Worth
Mattress Mack, aka American businessman Jim McIngvale, is worth an estimated $300 million. For the most part, people know him as the man who runs the Gallery Furniture stores in the Houston area. Also well-known is Mattress Mack’s penchant for placing massive wagers on sporting events, most notably those involving the Houston Astros.
Many of his wagers involve refunds for previously purchased mattresses at his stores in the event that the Astros come out on top. To offset the expense of the advertisement, he places big bets on the Astros.
|Net Worth||$300 Million|
|Date Of Birth||February 1, 1951|
|Income||$25 Million (Annual)|
Mattress Mack Early Life
Mack Mattress was born to two white parents in Mississippi, USA, on February 1, 1951. After graduating from Bishop Lynch High School in Dallas, he attended what is now the University of North Texas to play football. His childhood passion was football, and he even joined the collegiate squad later in life.
Mattress Mack Personal Life
Together, Mack Mattress and his wife Linda Mclngvale have raised four kids. Moreover, he is the proud grandfather of six young ones. Football is his number one pastime. In addition, he is a staunch supporter of the Democratic Party and has worked on behalf of several candidates affiliated with that party. He recently made headlines after losing an estimated $4.7 million on a football bet.
Mattress Mack Career
In pursuit of his goal of creating a business empire, Mack Mattress opened the first store in what would eventually become the Gallery Furniture Retail Chain. He has a playful, one-of-a-kind approach to sales, and his proposals are well-received. Apart from acting, he has produced movies like Sidekicks and appeared in several commercials.
Also, along with two others, he wrote the book Always Think Big. After assisting those affected by Hurricane Ida by delivering donations and food, he became active in a few charitable endeavors.
Mattress Mack Being Mattress Mack
A native of the Magnolia State, Jim McIngvale entered the world in February of 1951 in Starkville. In 1981, with $5,000 in savings, Jim started Gallery Furniture out of the back of his pickup truck. It took a while for the company to pick up steam, but once it did, it took off like a rocket. However, when the oil industry crashed, so did pretty much every retail firm in Texas.
Using his remaining ten thousand dollars, Jim bought many commercial spots on local television in 1983. While the cameras were rolling on the set of one of these commercials, he lost his cool and started pulling cash from his pockets, exclaiming, “Gallery Furniture saves you money!” He would later use the line as his signature catchphrase because it was so well received by the public.
The business initially produced just mass-market, budget-friendly pieces of furniture, but it has since expanded into more exclusive collections.
Mattress Mack Success
These days, Gallery Furniture ranks high among the nation’s most successful independently owned furniture stores. Sales per square foot at its stores have often been the greatest of any US retailer. In 2005, the company’s financials were reported to have shown that it brought in $200 million annually in sales. According to a report from 2015, annual sales are close to $150 million.
Mattress Mack Philanthropy
Jim opened his businesses to those seeking refuge from Hurricane Harvey in August 2017. After Tropical Storm Imelda inundated most of Houston in 2019, he again gave permission for Gallery Furniture stores to be used as shelters and as places to distribute free meals. During the 2021 Texas Power Crisis and Hurricane Ida, Jim again opened his stores throughout Texas and Louisiana to serve as shelters, providing food and other necessities to those in need.
Mattress Mack Taking Bets and Refunds on Sports
The company sponsored a promotion for Super Bowl XLVIII in 2014 wherein customers who spent more than $6,000 were eligible for a refund if the Seattle Seahawks came out on top. Mattress Mack refunded customers an estimated $7 million after the Seahawks’ victory. Jim is known for his big wagers on the Houston Astros, as he is a massive supporter of the team. After the 2017 Astros World Series victory, he reimbursed $10 million to happy customers.
Early in the 2019 season, Jim advertised a return of up to $3,000 on the purchase of a mattress set. When the Astros won the World Series, this became a $20 million hole in their finances. Jim started betting on the Astros to win the series to offset any losses he would incur should Houston lose. Over the course of multiple wagers, Jim had spent $13 million by the night of game six on October 29, 2019.
Jim lost $13 million because the Astros lost the series. As we indicated previously in the post, Mattress Mack put down $3.45 million at six different sportsbooks on the 2021 World Series matchup between the Astros and the Braves.
The Astros will earn $35.6 million from the payoff if they win. It would be a win-win-win situation for everyone involved if the Astros won, as Mack projected that his store return program would cost him a little more than $20 million.
Before the World Series began, a number of sportsbooks promised to pay him out on his wagers at a reduced value. Mack turned down every opportunity.
Mattress Mack Super Bowl 2022 Bets
It was reported in early February 2022 that Mattress Mack had used the Caesars Sports Book app to make the highest mobile wager ever, $4.5 million, on the Cincinnati Bengals to defeat the Los Angeles Rams in Super Bowl LVI. Because of the app’s per-wage limits, he had to load the bet in increments of $20,000.
If the Bengals won when he made the wager, he would collect $7.7 million. In addition, refunds would be issued to anyone who spent more than $3,000 on a living room set or mattress. Mattress Mack invested an additional $5 million in the Bengals on February 11.
The previous record for the most extraordinary legal sports wager ever placed had just been broken. If the Bengals are victorious, he will get $16.2 million (the total of both wagers).