Houston business mogul Jim McIngvale, who owns Gallery Furniture, will be giving back more than $10 million in purchases made from when he announced in May that he would rebate fans who spent more than $3,000 on mattresses and beds if the Astros won the World Series.

McIngvale is known as "Mattress Mac" and admitted that he paid an insurance premium of between 10 and 20 percent of the total value of what he had to pay out in order to protect himself.

"I'm happy for this great city and for the Astros," McIngvale said.