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What is Mat Ishbia’s Net Worth?
Mat Ishbia, the CEO and chairman of United Wholesale Mortgage (UWM), has an estimated net worth of $10.1 billion. Ishbia’s wealth primarily stems from his role at UWM, which he has led to become the largest wholesale mortgage lender in the country. The company’s success, particularly its public listing in 2020, significantly boosted Ishbia’s net worth.
In fact, his fortune has grown considerably over the past few years. In 2023, his net worth was estimated at $5.4 billion, meaning it has nearly doubled in just one year.
Beyond his mortgage business, Ishbia has diversified his portfolio through sports team ownership. In 2023, he led a group that acquired majority stakes in the NBA’s Phoenix Suns and WNBA’s Phoenix Mercury for $4 billion.
Here’s the breakdown of Mat Ishbia’s net worth:
Name: | Mat Ishbia |
Net Worth: | $10.1 Billion |
Date of Birth: | 1980 |
Profession: | Businessperson |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Early Life and Education
Mat Ishbia was born in 1980 and raised in a Jewish family in Birmingham, Michigan. His father, Jeff Ishbia, was an attorney who founded United Wholesale Mortgage in 1986 as a side business. Mat’s mother worked as a teacher in Pontiac, Michigan. From an early age, Mat developed a passion for basketball and excelled at the sport in high school.
Ishbia went on to attend Michigan State University, where he walked on to the men’s basketball team as a point guard from 1999 to 2002. Though he saw limited playing time, Ishbia was part of the 2000 national championship team under legendary coach Tom Izzo.
He credits his time with the Spartans as formative in developing his work ethic and leadership skills. Ishbia graduated from Michigan State in 2003 with a degree in business administration from the Eli Broad College of Business.
Career
After graduating, Ishbia joined his father’s company, United Wholesale Mortgage (UWM), as its 12th employee in 2003. He quickly rose through the ranks, becoming president in 2013 and CEO in 2015. Under Ishbia’s leadership, UWM grew exponentially to become the largest wholesale mortgage lender in the United States.
A pivotal moment in Ishbia’s career came in January 2021 when he took UWM public through a special purpose acquisition company (SPAC) merger. This deal, valued at $16 billion, was the largest SPAC transaction at the time and instantly catapulted Ishbia into billionaire status. His 71% stake in the newly public company was valued at over $11 billion.
Ishbia has continued to expand his business interests beyond mortgages. In 2023, he led a group that purchased majority ownership of the NBA’s Phoenix Suns and WNBA’s Phoenix Mercury for $4 billion, further diversifying his portfolio and increasing his net worth.
Philanthropy
Mat Ishbia has demonstrated a strong commitment to philanthropy, particularly in supporting his alma mater and cancer research. His most significant contribution came in February 2021 when he donated $32 million to Michigan State University, the largest single cash commitment in the institution’s history from an individual.
Ishbia’s generosity extends beyond Michigan State. In March 2021, he donated $1 million to the V Foundation for Cancer Research, supporting Dick Vitale’s efforts to raise awareness for pediatric cancer research. Later that year, he pledged an additional $14 million to Michigan State University, which was reportedly intended to help retain head football coach Mel Tucker.
Ishbia’s philanthropic efforts also focus on creating opportunities for youth and supporting his local community. In 2021, he purchased Ultimate Soccer in Pontiac, MI, and committed $10 million to enhance it as a free space for local youth sports and recreation, renaming it the UWM Sports Complex.
He also donated $500,000 to help fund The Flint Sports Complex at Sylvester Broome Empowerment Village, aiming to develop leadership skills through sports and teamwork for kids in Flint, Michigan.
Personal Life
Mat Ishbia is currently divorced and has three children. Ishbia was previously married to Emily Ishbia, a fashion model and blogger, whom he met while studying at Michigan State University. They married in 2014 and were together for nearly eight years before their divorce.
Despite his immense wealth, Ishbia maintains a relatively low profile in his personal life. He resides in Bloomfield Hills, Michigan.
Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.
With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.
