Mat Ishbia is a distinguished American billionaire entrepreneur, who currently serves as the CEO and chairman of United Wholesale Mortgage, a prominent mortgage lender.
Recently, on February 6, 2023, Mathew and his older brother Justin were confirmed as the majority owners of two basketball teams – the Phoenix Suns of the National Basketball Association and the Phoenix Mercury of the Women’s National Basketball Association.
Mat Ishbia was born on January 6, 1980, in Birmingham, Michigan which is a suburb of Detroit. Ishbia comes from a wealthy family and his parents are Jeffrey Alan and Joanne Ishbia. His father is the founder of United Wholesale Mortgage (UWM) in Michigan. His brother Justin owns a 22% stake in the company.
Ishbia attended a private high school before earning his bachelor’s degree in business administration from Michigan State University in 2002. Ishbia, who played basketball for Michigan State University for four years, came to UWM after winning the 2000 National Championship and reaching three Final Fours.
Mat Ishbia career
After graduating from Michigan State University in 2003, Mat joined his father’s mortgage company as the 12th clerk. He started to work hard and has been instrumental in the growth of the company over the years. His dedication paid off when he was named President of the company in 2013.
Under Ishbia’s leadership, United Wholesale Mortgage (UWM) grew significantly, becoming America’s largest wholesale lender by 2015. This remarkable achievement was a testament to Ishbia’s vision and business acumen. In September 2020, UWM merged with a special purpose acquisition company, marking another milestone for the company.
Since then, UWM has grown to a team of more than seven thousand employees and became a public company on January 22, 2021, under the ticker UWMC. As it stands, UWM is currently recognized as one of America’s largest wholesale mortgage originators.
They are committed to continuing to grow their wholesale channel while continuously improving their service offerings through industry-leading products and proprietary technologies that support independent mortgage brokers.
Overall, Mat Ishbia’s leadership at UWM has been instrumental not only for his company but also for fostering innovation in the broader financial sector. As such a successful entrepreneur and businessman, he inspires many aspiring professionals looking to make a name for themselves in this dynamic industry.
Mat Ishbia’s biography
|Real name||Mathew Randall Ishbia|
|birth date||January 6, 1980|
|Age (as of 2023)||43 years|
|Place of birth||United States|
|University||Michigan State University|
|Height||in feet inches – 5′ 9” – in centimeters – 175 cm|
|Weight||in kilograms – 87kg – in pounds – 191 pounds|
Mat Ishbia Family
|Who is Mat Ishbia’s wife?||Emily Clarke|
Mat is married to Emily Ishbia and they have three children, two sons and a daughter. Emily’s age or date of birth is unknown, but she must be in her 30s as a mother of three. Emily is a full-time housewife who practices jiujitsu at Roots Jiujitsu in her spare time. She lives with her wealthy husband and children in a large mansion in Bloomfield Hills, Michigan.
Mat Ishbia net worth
Mat Ishiba is a household name in the business world thanks to his impressive net worth. His fortune is estimated at around $5.4 billion, which puts him at number 486 on the list of the richest people in the world. Most of Mat Ishbia’s wealth comes from United Wholesale Mortgage (UWM), the largest wholesale lender in the US mortgage market.
Interestingly, Mat has a long association with UWM, serving as both President and Chief Executive Officer. It was founded by his father, Jeff Ishbia, in 1986 and has since grown into one of America’s most successful companies.
SFS Corp., a company controlled by both Mat and his father Jeff, owns approximately 94% of UWM, according to its recent proxy statement filed with the US Securities and Exchange Commission. Additionally, it’s important to note that Mat Ishbia owns an impressive 75% stake in these stocks, which equates to about $500 million annually!
Facts About Mat Ishbia
- Mat Ishbia enjoyed cycling and hiking and was unsuccessful at basketball. He supports the Democratic Party and is a fan of the Spartans.
- Mat Ishbia is CEO of United Wholesale Mortgage, the largest wholesale lender in the US mortgage market.
- He is also among the top 500 billionaires worldwide.