MyPillow CEO Mike Lindell has claimed that his company has been severely impacted after American Express slashed its credit line. Lindell revealed on the “War Room” podcast that American Express reduced MyPillow’s credit line from $1 million to just $100,000 without any explanation or reason. The sudden reduction is causing significant harm to the company, which has been a client of American Express for 15 years. This is not the first time Lindell has faced credit troubles, as a Minnesota bank terminated his account due to his reputation being considered a risk.
Lindell’s unwavering support for former President Donald Trump and his groundless election fraud claims has had a detrimental effect on his pillow business. In July, he even had to auction off equipment from his pillow factory after losing over $100 million in retail sales. Additionally, Lindell is currently facing a billion-dollar defamation lawsuit from Dominion Voting Systems and another from Smartmatic over his claims about their involvement in the 2020 election. Representatives for MyPillow and American Express have not yet responded to requests for comment.
In conclusion, the sudden reduction in MyPillow’s credit line by American Express has left the company crippled, according to CEO Mike Lindell. This setback comes after a Minnesota bank terminated Lindell’s account, citing a risk to their reputation. Lindell’s support for Trump’s unfounded election fraud claims has greatly impacted his pillow business, leading to the auctioning off of equipment and significant financial losses. He is also facing billion-dollar lawsuits from Dominion Voting Systems and Smartmatic. The repercussions of these credit and legal troubles are posing major challenges for MyPillow.