Jeff Ishbia Net Worth As His Sons Justin And Mat Ishbia Buy Phoenix Suns
Jeff Ishbia has a net worth of $7.5 million and is the founder of United Wholesale Mortgage. Jeff has two billionaire sons.
Ishbia is one of the men who you can feature in the rags to riches stories. Born poor, Jeff Ishbia became a successful attorney but also dreamt of becoming a businessman.
He did fulfil his dream and opened a slew of businesses ranging from restaurants to alarm companies. In 1986, he founded United Wholesale Mortgage, which currently sits at the no.1 position of mortgage lenders in the USA.
As his sons, Mat and Justin Ishbia, agreed to buy a majority stake in the NBA Franchise, Phoenix Suns, for $4 billion, they have to credit their dad, who brought out the potential in them to become big players in the finance world.
Jeff Ishbia Net Worth Compared To His Two Sons
Jeff Ishbia has a net worth of $7.5 million which comes short in front of his two billionaire sons.
But his two sons have all to thank him for helping them build this huge fortune which now has led them to become owners of an NBA franchise. Jeff Ishbia is the founder of the mortgage lending company, United Wholesale Mortgage and is also a practising attorney.
Jeff founded the company in 1986, but no longer plays any role in its administrative functions. He has let his younger son Mat handle the company, which now has a market capitalization of $6 billion.
Net Worth Comparison Between Jeff Ishbia And His Two Sons
| Jeff Ishbia | $7.5 million |
| Justin Ishbia | $2.1 billion |
| Mat Ishbia | $5.26 billion |
| Ishbia Family Members | Net Worth |
1. Justin Ishbia
Justin Ishbia is the elder son of Jeff Ishbia and has a net worth of $2.1 billion as listed by Forbes.
Justin, age 44, is a graduate of Michigan State University and has a J.D. from Vanderbilt University School of Law.
Unlike his little brother, Justin opted to become a founder of a business company like his father. In 2009, Jeff founded Shore Capital Partners in Chicago, Illinois, a private equity investment firm.
Justin also holds a 22% interest in UWM, a company that went public in 2021. Being a billionaire also means Justin has a slew of properties amounting to millions.
Justin lives in Chicago, Illinois, with his wife, Kristen Ishbia, with whom he tied the knot on September 23, 2017, and has two children.
In 2021, Justin bought $23.9 million worth of land to build a 3.3-acre Winnetka homesite on Lake Michigan. But the deal turned complicated as it involved land swapping with the Winnetka Park District.
2. Mat Ishbia
Mat Ishbia is the youngest son of Jeff Ishbia has a net worth of $5.1 billion as listed by Bloomberg.
Mat, age 42, is the CEO and chairman of United Wholesale Mortgage. He joined the company in 2003 and became its CEO in 2013. Under him, UWM went public in 2021, a dream he thought would never come true when he joined the company.
Along with being a successful businessman, Mat is a former basketball player for Michigan State University. He considers his father and Tom Izzo, his basketball coach, as his idols.
He played for Michigan State University from 1998-2002, winning the national championship in 2000. Though he admits, he didn’t get the chance to play much but still loved the game.
Over the years at UWM, Mat was appointed to various positions succeeding in all of them, which eventually led him to be crowned CEO in 2013. With Mat at the helm, UWM has been ranked as the no.1 wholesale mortgage lender.
Mat is married to Emily, with whom he shares three children, and lives in Bloomfield Township. In 2021, he offered $18 million to buy Forest Lake Country Club and has other many million-dollar properties to his name.
In 2021, Mat committed $32 million to Michigan University Athletics to facilitate the expansion of its athletic facilities.
Jeff Ishbia Continues His Practice At Ishibia & Gagleard
Jeff Ishbia is the founder of the Ishibia & Gagleard law firm in Michigan and continues to practice even though he has crossed 70.
At Ishbia, Jeff not only entertains clients from the States but also from across the Atlantic in Europe as well as in Asia. If it weren’t for his commitment to work, we probably wouldn’t have seen the Matt brothers become the Phoneix Suns owners today.
Born to parents Jack Ishbia and Regina Ishbia Polinsky, Jeff Ishbia not only founded the billion-dollar company that is United Mortgage but also founded an alarm business, a restaurant and a title company.
Ishbia didn’t let go of his law practice while working as a businessman and maybe that is also one of the reasons why UWM succeeded more under his son, Mat than him.
The real boom for Jeff and United Mortgage happened during the financial crisis of 2007-2008. When others were failing they took the chance and now sit at the top of the country’s no.1 mortgage company.
He was bought out by his son Mat in the coming years and now only works on the UWM board.
