Mat Ishbia | |
|---|---|
 Ishbia in 2020 | |
| Born | Mathew Randall Ishbia (1980-01-06)January 6, 1980 (age 45) |
| Education | Michigan State University |
| Known for | CEO and chairman ofUnited Wholesale Mortgage Majority owner of thePhoenix Suns of theNBA and thePhoenix Mercury of theWNBA |
| Family | Justin Ishbia (brother) |
| Basketball career | |
| Personal information | |
| Listed height | 5 ft 10 in (1.78 m) |
| Listed weight | 175 lb (79 kg) |
| Career information | |
| High school | Seaholm (Birmingham, Michigan) |
| College | Michigan State (1999–2002) |
| Position | Point guard |
| Number | 11 |
| Career highlights and awards | |
Mathew Randall Ishbia (born January 6, 1980)[1][2] is an American billionaire businessman who is CEO and chairman of mortgage lenderUnited Wholesale Mortgage. He is the majority owner of thePhoenix Suns of theNBA andPhoenix Mercury of theWNBA alongside his older brother,Justin.[3]
Ishbia was raised in aJewish family inBirmingham, Michigan.[4] He played basketball as a walk-on point guard forMichigan State from 1999 to 2002 and was a member of the team that won thenational championship in 2000.[5][6][7]
In 2013, Ishbia became the CEO ofUnited Wholesale Mortgage (UWM), an American mortgage lender founded by his father in 1986.[4] In 2015, under his leadership, the company became the leading wholesale mortgage lender in the United States.[8][9] In 2019, Ishbia published his debut book titled "Running the Corporate Offense: Lessons in Effective Leadership from the Bench to the Board Room."
He became a billionaire in 2021 when UWM became a publicly traded company.[4] In 2021, Ishbia announced that UWM would no longer do business with any broker doing business with competitorsRocket Mortgage and Fairway Independent Mortgage, leading to a lawsuit filed by brokers a month later.[10][11]
In December 2022, Ishbia's bid was accepted to purchase theNBA'sPhoenix Suns andWNBA'sPhoenix Mercury basketball teams for $4 billion, pending league approval.[12] The NBA approved the sale on February 6, 2023.[13]Cleveland Cavaliers ownerDan Gilbert, who is also the CEO of Rocket Mortgage, abstained from voting.[14]
During Game 4 of the Suns 2023 playoff series against theDenver Nuggets, Ishbia was involved in an altercation with Nuggets playerNikola Jokić. During the game, Suns playerJosh Okogie crashed into the seats while trying to save a loose ball. He landed in a group of fans on the baseline that included Ishbia, who grabbed the basketball. Jokić tried to take the ball away from Ishbia, resulting in the ball flying backward into the crowd and Ishbia being knocked backward by Jokić's elbow. Jokić was then assessed atechnical foul and was fined $25,000 the next day.[15][16]
Forbes lists his net worth as of May 2024 at US$10.1 billion.[2] When theArizona Coyotes of theNHL suspended operations in the Phoenix area and relocated their assets toSalt Lake City, Ishbia announced his interest in reviving an NHL franchise in the Phoenix area.[17]
On February 4, 2021, Ishbia donated $32 million toMichigan State University, the largest one-time commitment from an individual.[18] $20 million of the donation was earmarked for a newTom Izzo Basketball Building.[19] A month later, on March 12, Ishbia donated $1 million tothe V Foundation for Cancer Research.[20] In November 2021, Ishbia agreed to donate an additional $14 million to Michigan State University. He disclosed the donation was to retain head football coachMel Tucker which was later confirmed through a legal battle to obtain donation records originally denied by MSU through aFOIA.[19]
Ishbia is divorced[2] and has three children.[21]
Ishbia, 42, who will also acquire the WNBA's Phoenix Mercury in the deal, grew up in a Jewish family in Birmingham, Michigan, a suburb of Detroit.
