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This story was originally business insider.
Jim McKingvale was born in Starkville, Mississippi in 1951. His father, George Meingvale, was a business owner. His mother, Angela McKingvale, was a stay-at-home mom.
A store in Starkville, Mississippi, but not where George Meingvale worked. HUM Images/Universal Images Group (via Getty Images, BI)) Source: Houston Intown Magazine
McKingvale attended high school in Dallas, Texas, and attended the University of North Texas for three years, where he played football before dropping out in 1973.
Campus of the University of North Texas. University of North Texas Image Gallery Source: LinkedIn, University of North Texas Via BI
After graduating from college, Meingvale worked at a convenience store. He was eventually fired, but he took it as an opportunity to reinvent himself.
Not the convenience store where McKingvale worked, but a convenience store. Gado/Getty Images (via BI) Source: Kou 11, gallery furniture
McKingvale then got a job at a furniture store in Dallas, Texas. In this role, he learned all about running a furniture business and developed a passion for the industry.
A furniture store, although not the store where McKingvale worked. Jeffrey Greenberg/UCG/Universal Images Group, Getty Images, via BI Source: LinkedIn
In 1981, McKingvale moved to Houston, Texas with his newlywed wife, Linda, and $5,000 in savings for the rest of his life, and opened a furniture store called Gallery Furniture in an abandoned model house park next to the highway. They slept there for weeks to prevent inventory theft and worked late into the night collecting furniture.
Jim McKingvale in a furniture store. Matthew Stockman/Getty Images via BI Source: gallery furniture
Gallery Furniture’s sales surged in its first year as Americans moved to Houston to work in Houston’s burgeoning auto, oil and steel industries and needed to buy furniture for their new homes.
An oil storage facility in Houston, Texas. via Mark Felix/AFP, Getty Images, BI
By 1983, however, sales of gallery furniture had declined significantly. That has forced Mr. McKingvale to rethink his advertising tactics, such as billboards nailed to utility poles and door-to-door leaflets.
A man puts a flyer in the door. Al Drago/CQ roll call via Getty Images, BI Source: gallery furniture
McKingvale decided to spend the remaining $10,000 on television commercials that will air on two Houston stations. He didn’t like how the commercial turned out, so he stood in front of the camera and made an impromptu pitch. He spoke quickly and energetically, ending his pitch by exclaiming, “Gallery furniture saves money!”
Old TV model. Via In Pictures Ltd./Corbis, Getty Images, BI Source: Kou 11, gallery furniture
The ad was a success, and furniture sales soared. The slogan “Let’s save money” became famous among Houstonians who saw him on television.
Advertisement for a furniture store in Texas. Via RJ Sangosti/The Denver Post, Getty Images, BI Source: Kou 11, gallery furniture
Throughout the early 1980s, Mack appeared in numerous commercials wearing a mattress costume. From there, the nickname “Mattress Mac” was born.
During this time, he shifted from selling only valuable furniture to selling high-end furniture to attract new customers. He attributes the increase in sales to a customer-centric business approach that promises same-day furniture delivery.
As McKingbale rose to fame and fortune, he and his wife became executive producers of the 1992 film Sidekicks, starring Chuck Norris and Jonathan Brandis. Next, Norris appeared in several commercials for Gallery Furniture.
Jim McKingvale (left) and actor Chuck Norris (right). Matthew Stockman/Getty Images via BI Source: los angeles times
In 1988, McKingvale and his wife, Linda, moved into a 6,840-square-foot mansion in the Northgate Forest neighborhood, a private residential golf community north of Houston. It included seven bedrooms, Swarovski crystal chandeliers, and an Olympic-sized pool and spa. In 2008, the McKinvales sold the home for $815,000.
In 1991, Gallery Furniture made sales of $30 million. By 1998, sales had reached his $100 million. McKingvale said sales surged as he adopted W. Edward Deming’s management style, which focused on improving manufacturing processes rather than cutting costs, into his business.
McKingbale documented the lessons he learned from building a $100 million business in a book titled Always Think Big, co-authored with Thomas Duning and John Ivansevish. This book was published in 2002.
Written by Always Think Big, Jim McKinvale, Thomas Duning, and John Ivansevich.Amazon
Seven years after the book was published, McKingvale opened a second gallery furniture store in West Houston, a scaled-down version of the original store.
Steve Francis of the Orlando Magic basketball team signs autographs for fans at Gallery Furniture. Chris Graythen/NBAE via Getty Images via BI Source: gallery furniture
However, in late May 2009, a fire destroyed a gallery furniture warehouse, and investigators said arson was the cause. The store lost millions of dollars worth of new furniture and racked up $10 million in damages.
Shortly after the fire, McKingvale’s Greater North Side Estate, where his business estate is located, sued McKingvale for refusing to pay $48,000 in taxes between 2005 and 2007. McKingvale said the borough had not properly maintained the area and called its fiscal policy “unrepresentative taxation.”
McKingvale continued to grow the business. By 2015, he opened his third gallery furniture store in Fort Bend County. This is the largest of his three stores. The 165,000-square-foot store wasn’t just about furniture. There were monkeys and birds in cages, and pufferfish and sharks in saltwater tanks. McKingvale said he wants customers to have an unforgettable shopping experience.
McKingvale’s third gallery furniture store showcased exotic animals such as blowfish.Brent Durand/Getty Images via BI
In addition to his business accomplishments, McKingvale is known for his contributions to the Houston community. When Hurricane Harvey hit Texas in 2017, McKingvale opened the Gallery Furniture store as a shelter for 800 victims who fled their homes to avoid flooding.
A family seeks refuge in a gallery furniture store after Hurricane Harvey hits Texas. Bredan Smialowski/AFP via Getty Images, BI
Two years later McKingvale entered the sports betting business. In 2017, he signed a deal to give customers free mattresses if the Houston Astros beat the Los Angeles Dodgers in the MLB World Series. He lost $10 million worth of mattresses when the Astros won. He said he likes these big bets because “stability is boring to death.”
Houston Astros owner Jim Crane lifts the trophy after the Astros beat the Dodgers in the 2017 World Series. Rob Tlingari/MLB (via Getty Images)
As time went on, McKinvale continued to make millions of dollars in sports betting. During the 2019 World Series, McKingvale traveled around the country on a private jet, betting on the Astros’ victory at gambling venues in three different states. McKinvale lost at least $11.6 million in bets when the Houston Astros lost to the Washington Nationals. He also bets on Houston sports teams that will compete in the NFL playoffs, the Kentucky Derby and the Super Bowl.
McKingvale signs a used basketball during the 2019 NBA playoffs between the Houston Rockets and the Golden State Warriors. Bill Baptiste/NBAE via Getty Images Source: ABC13, legal sports betting
But in June 2019, McKinvale was rushed to hospital after suffering a stroke that left his face and arms paralyzed. “Work is the cure,” he reportedly said, but doctors advised him to work less until he recovered.
But McKingvale’s bet didn’t stop his philanthropy. When Tropical Storm Imelda flooded Houston in 2019, he again opened Gallery Furniture to evacuees and raised $106,000 for the victims. McKingvale also distributed thousands of free masks to Houstonians in early 2020, when the COVID-19 pandemic created a mask shortage. In 2021, he provided shelter to those affected by the Texas power crisis.
A man takes refuge in Gallery Furniture after a winter storm hits power outages in early 2021 in Houston. Go Nakamura/Getty Images Source: Kou 11, ABC13, Washington Post
Despite McKingbale losing more than $10 million in bets since 2020, the furniture kingpin won $75 million after the Astros defeated the Philadelphia Phillies in the 2022 World Series championship, making it the biggest prize in sports betting history.
Jim McKingvale and others celebrate the Houston Astros’ 2022 World Series victory during the parade. Troy Taormina/USA TODAY Sports via Reuters Source: action network, CBSsports, insider
Most of the prize money will be donated to promotions at the Gallery Furniture store, where anyone who spends $3,000 or more on mattresses will get a refund.
At Mr. Jim McClungvale’s shop “Gallery Furniture”. Go Nakamura/Getty Images Source: yahoo sports
The 71-year-old McKinvale’s net worth isn’t clear — he’s not listed in the Bloomberg or Forbes wealth indexes.
Jim McKingvale and wife Linda McKingvale at the 2018 UNICEF Celebration in Houston.Bob Levy/Getty Images
In a statement released after winning the Astros bet, McKingvale said the past 41 years had been “the best years” of his life, dedicating the victory to the Houston community and saying, “I would do anything for this city.”
Mr. McKingbale’s shop “Gallery Furniture”. Marc Felix for The Washington Post (via Getty Images) Source: Facebook page of gallery furniture
McKingvale hasn’t had much luck since his big win. In January, he lost $1.5 million betting on Texas Christian University’s Horned Frogs in the college football playoff national championship and $2 million betting on the Dallas Cowboys in a playoff loss to the San Francisco 49ers.
Jim McKingvale shakes hands with a woman who gave her a free mattress after the Houston Astros won the World Series. Credit: AP via BI Source: sports illustrated
Two months later, he lost another $4 million as the University of Houston men’s basketball team lost in the NCAA Tournament.
Houston Astros players and Jim McKingvale at the victory parade. AP source via BI: sports illustrated