Mat Ishbia, 41, is CEO of Pontiac-based United Wholesale Mortgage with over 8,000 employees. The company was previously known as United Shore Financial Services.
He is already a billionaire on paper and ranked 188th place on the Bloomberg Billionaires Index, which puts his net worth at just under $12 billion.
His company went public in January on the New York Stock Exchange and is valued at over $16 billion.
Mat’s dad Jeffrey Ishbia started UWM in 1986, but nearly all of the company’s growth happened since Mat took over day-to-day control in 2013.
Mat Ishbia graduated from Michigan State University and was a member of the Spartans’ 1998-2002 basketball team, which won the 2000 NCAA championship under coach Tom Izzo.