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Mat Ishbia's father, Jeff Ishbia, is a big reason for the latest change in the ownership structure of the Phoenix Suns. Thanks to Jeff's successful business, he's generated a multi-billion wealth that has helped his son.
As many NBA fans know, Mat Ishbia agreed to buy the Suns for a record price of $4 billion. The agreement took place on Tuesday, December 20, several months after the suspension of Robert Sarver.
This article will reveal everything you need to know about Jeff Ishbia. We look deeper at his life and some of his biggest achievements.
Mat Ishbia's father founded United Wholesale Mortgage
Mat is currently the CEO of United Wholesale Mortgage, the biggest mortgage wholesaler in the United States. However, it was Jeff Ishbia who founded the company and made it highly successful.
Mat Ishbia's father founded the company in 1986 and served as its chairman. His son, the new owner of the Phoenix Suns, joined the mortgage company in 2003, becoming its CEO 10 years later.
Currently, Jeff Ishbia serves as a board member for the company he founded. Thanks to more than four decades of experience practicing law, the businessman also serves as the Managing Partner of Ishbia & Gagleard, P.C., a law firm.
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The law firm specializes in real estate, corporate, and transactional law. It was also founded by Mat Ishbia's father just one year after he started United Wholesale Mortgage.
Besides these two companies, Jeff Ishbia is also involved in many other businesses, including home security, insurance, automobile industry, and more.
In 2013, the successful businessman was named the Michigan/Ohio Entrepreneur of the Year by Ernst and Young.
Mat Ishbia's net worth and basketball career
The new owner of the Phoenix Suns played basketball in college. Ishbia appeared in 48 games for the Michigan State Spartans, winning the NCAA title in the 1999-2000 season.
You may be interested in reading: BREAKING: Billionaire mortgage lender Mat Ishbia finalizing $4 billion worth purchase of Phoenix Suns
The 5'10" guard spent three seasons with the Spartans, averaging 0.6 points and 0.3 assists. In his best season with the team, Ishbia averaged only 1.1 points in 3.1 minutes per game.
As of December 21, 2022, Mat Ishbia's net worth is estimated at $4.9 billion by Forbes. He is among the 600 wealthiest people in the world, which is impressive.
While Mat couldn't make a long-lasting impact as a basketball player, he has done a tremendous job as the CEO of United Wholesale Mortgage. Due to this, we expect him to do a great job as the Phoenix Suns owner as well.
