Mat Ishbia’s basketball journey began with a deep connection to the game, though his prospects on the court were limited. As a walk-on point guard at Michigan State University, he mostly occupied the bench during the team’s 2000 national title run. Reflecting on that time, Ishbia described himself as “the hardest working guy to be the worst player on that team,” with coaching as a backup plan to remain close to the game he loved.

Upon graduating, Ishbia contemplated joining the coaching staff at Cleveland State but ultimately chose a path that transformed his life. Instead of coaching, he joined United Wholesale Mortgage (UWM), a small family business founded by his father. Ishbia became the 12th employee at the company, which had just 11 employees at the time. Over the years, he took on various roles, gaining a comprehensive understanding of the business and helping it grow.

He took the company from 12 to 7,000 employees and eventually became the CEO. After going public in 2021 UWM was valued at $16 billion making Mat a billionaire. Always wanting to be connected to the sports Mat wanted to own a sports team and was his time. After the previous owner of the Phoenix Suns, Robert Sarver was looking to sell his stake in the organization.

Sarver was forced to sell after an investigation by the NBA revealed years of employee mistreatment. By the end of 2022, Mat Ishbia and his brother Justin made headlines as he became the Majority owner of the Phoenix Suns in a deal valued at $4 billion, which was a record-breaking deal. However, for Mat, it was just the beginning.

How much is Mat Ishbia’s net worth?

Mat Ishbia is the majority owner of the Phoenix Suns alongside his brother Justin, as he owns a 57% stake in the organization. Alongside being an NBA team owner, he is the Chairman and CEO of UWM and is worth a massive $9.4 billion according to Forbes, owning 71% of the company. Furthermore, this makes him the 13th richest owner on the U.S. Sports team owners list.

Who are Mat Ishbia’s parents? Which religion does the Suns’ owner follow?

Mat Isbhia comes from a very close-knit Jewish family and was born and raised in Birmingham, Michigan. His father is Jeff Ishbia, founder of the company UWM, of which Mat is currently the CEO, and his mother is Joanne, who was a school teacher earlier. He also has an older brother named Justin who is his business partner and also the owner of the Suns alongside his younger brother Mat.

Mat Ishbia giving back to his community

Mat Ishbia despite his professional success remains committed to giving back through his philanthropic works. Back in 2021, he made a huge donation of $32 million to Michigan State University, his alma mater, making it the largest one-time commitment by an individual.

He also gave a generous gift of $20 million for a new Tom Izzo Basketball Building. Furthermore, he also donated $1 million to the V Foundation for Cancer Research in 2021, as he was personally affected by cancer as his father had it and fought through it. He said, “Cancer has definitely affected me personally and has made a huge impact on my life, along with so many people that I know and love – from my father and others who have had cancer and beaten it to other people I know who have not beaten it but fought hard“.

He then added, “I’m grateful to be able to honor them and help in the fight against cancer in some small way.” Mat continues to help and make a change in the community through his philanthropy.