MyPillow Guy Auctions Off Pieces Of Company As Revenues Plummet

MyPillow CEO Mike Lindell has put on a brave face all year, pretending that the company he started wasn't going down the drains. But now he's dropped the pretenses by auctioning off equipment from his company - everything from sewing machines to forklifts - in order to get some extra cash as his pillow empire crumbles. But he isn't just raising money to save his company - he currently faces hundreds of millions of dollars worth of defamation lawsuits that he'll have to pay for, as Farron Cousins explains.

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*This transcript was auto-generated. Please excuse any typos.

Well, folks, if you have ever dreamed about owning any portion of the MyPillow company, I have wonderful news for you. Things are apparently going so bad at Mike Lindell's Pillow Company that he is now being forced to auction off equipment, sewing machines, trucks, forklifts, whatever it is, everything must go because he has reportedly lost so much money that he's gotta do whatever it takes to get a couple bucks back, even if it means selling off the equipment that he needs to run the company in the first place. As I mentioned, we're talking about sewing machines, which, you know, you kind of need to make pillows, forklifts, which you need to move stuff around. The factory trucks, which you need to deliver things, computers, desks, chairs, whatever it is, you name the price. And Mike Lindell is now selling it because according to Lindell, it was a massive, massive cancellation.

We lost a hundred million from attacks by the box stores, the shopping networks, the shopping channels, all of them did cancel culture on us. He says, no, you did that on your own, bud. Like everything that's happening right now with your company is because of stupid decisions that you made as the c e o and owner of that company. You made bad decisions to interweave politics with pillows. This is all 100% on you because you're not the, you know, wonderful genius businessman that you thought you were. Now, here's the thing, Lindell also admitted, uh, to the Minneapolis Star Tribune that yes, the pending lawsuits against him are of course one of the reasons he needs to raise money. But let's remember just a few months ago, uh, when reports came out that his company was not doing well, they were losing money. Lindell swore up and down he is like, we're doing great.

We're making millions of dollars, everything's wonderful with the company. And now here we are in July, and he's having to literally sell off the pieces of his factory just so that he can keep going. And of course, probably so he can build up a nice little nest egg so that he's able to pay out those massive lawsuits when he eventually loses. Because at this point, it's pretty much obvious that he is going to lose those defamation lawsuits against him. He also, at one point said that he had spent 40 million of his own money trying to overturn the results of the 2020 election. He also has a big grand event come up in August where he had told us last month God had given him a plan to save America. But we don't get to know about it yet, because that's not, you know, you gotta wait till August for God's plan to be revealed, according to

Mike Lindell. So things aren't going well, not at all. And again, it's because of the decisions he made. You know, Mike Lindell back when he was just the MyPillow guy, I remember it clear as day, Donald Trump did his little press conference out there in the Rose Garden at the White House, and he brought up Mike Lindell, who was so excited. We were talking about businesses. I'm a business man, I get to do this. But it was at that point that Mike Lindell decided he was gonna go all in with Donald Trump. A man who even back then was already one of the most hated presidents of all time. He could have shown up, he could have done his little part at that little press conference and moved on and not really been involved in politics. He made the choice, and with every choice comes a consequence, good or bad. And when he saw the consequences of his actions, specifically with the attempts to overturn the 2020 election, not only did he not drop it and try to write the ship, he doubled down on it, right? That's like the Titanic hitting the iceberg. And then the captain saying, screw it, back it up. Hit it again. And that's exactly what Mike Lindell did. And that is why today on his little website called K Bid, he's now having to sell off some very vital pieces of his once very profitable company.