James Franklin McIngvale, better known as Mattress Mack, is returning with his bets on the Astros World Series. He has made some whooping investments that have sparked people’s interest in Mattress Mack Net Worth.
Meanwhile, this article will discuss Mattress Mack’s finances, including his assets, the Gallery Furniture business, the gambling scene, and much more.
So, if you are a Gallery Furniture business chain fan, this article has got you covered.
Mattress Mack Net Worth at a Glance
Everyone knows about the huge success of the Gallery Furniture chain, but less is known about its revenue. So, this section has all the precise figures that directly impact the Net Worth of Mattress Mack.
In addition, the furniture business is not the only source of his wealthy possessions. Mattress Mack’s gambling stint has also brought him a good share of fortune.
In that reference, Let’s talk some numbers here!
|Full Name||James Franklin McIngvale|
|Net Worth||$300 million|
|Annual Salary||$30 million|
|Monthly Salary||$2.5 million|
|Sources of Income||Business in Home furnishing, Sports gambling|
|Income from Bets||$75 million|
|Furniture Sales||$150 million|
Mattress Mack Net Worth & Estimated Salaries
As of 2023, Mattress Mack’s net worth is $300 million, primarily part of his large bets.
If we talk about Mattress Mack’s annual salary, it is around $30 million. Since he is not much into furniture, this amount mostly reflects his gambling investments.
Following that, he earns a monthly salary of $2.5 million, almost equal to his single bet price.
Revenue From Gallery Furniture
Mattress Mack makes an annual revenue of $150 million from Gallery Furniture.
The Gallery furniture has a major role to play in McIngvale’s life, as he started his hustle from there only. In fact, the credit for the name ‘Mattress Mack’ also goes to it after he started wearing mattresses for the TV commercials.
Mack started Gallery Furniture from a pickup truck in 1981 with just $5,000 in lifetime savings. Initially, the business was too slow, but as it progressed over the years, Gallery Furniture became a trademark.
Reflecting on its present status, Gallery Furniture is one of the most successful independent furniture retailers.
Mattress Mack has clubbed his betting ideas into his business. He frequently runs special offers in his stores, promising customers a refund on their mattress purchases if the Astros win.
To cover the cost of these refunds, the gambler places big bets on the Astros.
How much did Mattress Mack bet on the Super Bowl?
Mattress Mack bet $200,000 on the Dallas Cowboys for the 2023 NFC championship in the Super Bowl. If the sports gambler had been lucky, he would have made $1.45 million, but the best went all wasted.
However, this is just a substantial amount of McIngvale’s income, so it doesn’t make much difference.
McIngvale started betting on various sports in 2014 when his company came up with a promotion for the Super Bowl. He offered a refund on purchases over $6,000 if the Seattle Seahawks won.
And after the team won, he refunded almost $7 million. This is what motivated Mattress Mack to come into the gambling scene.
Following his betting success, Mack has come a long way by creating history.
In 2022, his bet on the Astros Series awarded him $75 million in payouts. This is the highest total payout in sports betting history.
Jim MacIngvale: Assets and Car Collection
Jim MacIngvale has a massive amount of real estate properties that include his house in Houston and other neighboring areas.
MacIngvale has various estates in Starkville, Dallas, Los Angeles, and other places.
As part of his huge net worth, Mattress Mack has an impressive car collection that includes Jaguar, Ferrari, Bentley, Rolls Royce, and many more.
Net Worth Hike Over the years
It is very well known that the Gallery Furniture chain has made an impressive impact on the business arena. All the credit goes to Mattress Mack, but the actual growth in his net worth began after he started placing bets on sports.
The businessman’s net worth has grown significantly over the years, thus making him a multi-millionaire.
|Year||Net Worth (Million)|
Jim MacIngvale: Personal Life & Career Beginnings
McIngvale was born and brought up in Mississippi and then went on to start his business in Texas.
Mattress Mack started Gallery Furniture in 1981 and invested $10,000 for its first TV commercial. From here, the business gained momentum, and Mattress Mack became a household name for emerging entrepreneurs.
Mattress Mack today lives in Houston with his wife Linda and is one of Northgate’s most recognizable residents.
During crises and disasters, he has provided free meals to people and also offered them shelter at the North Motorway Location. As he has a massive net worth, he doesn’t miss the chance to return it to the people who have helped him earn it.
|Name||James Franklin McIngvale|
|Year of Birth||February 11, 1951|
|Place of Birth||Starkville, U.S.|
The Final Verdict: Mattress Mack Net Worth
As a successful businessman, Mattress Mack is worth $300 million as of 2023.
Although James spends a considerable amount of his wealth on gambling, he is still among the millionaires in the world. He recently made $75 million off $10 million in bets on the Astros, creating history.
And as he has too much investment in gambling right now, he would likely break his own records. Even at the age of 72, his net worth adds up almost daily. For now, it’s $300 million, and even if it makes a slight change, I will keep you updated here.
FAQs: Mattress Mack Net Worth
Mattress Mack, the founder of Houston-based Gallery Furniture, is worth $300 million as of now. Starting with just a pickup truck, his business has grown tremendously over the years and has brought him immense fortune.
Mattress Mack has made millions through bets on the Kentucky Derby. However, recently, he lost around $1.2 million on one bet that he was very confident about.
Mattress Mack is a renowned businessman who has ventured into various fields and thus has made good fortune. His sources of income are furniture sales, gambling, and property dealings.
Jim MacIngvale, also known as Mattress Mack, is the CEO of Gallery Furniture. He is well known for operating the whole retail chain of Gallery Furniture, based in Houston, Texas.
As per recent data, Gallery Furniture’s annual revenue is around $150 million. Also, talking about the revenue per employee, it is approximately $315,066.