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Mat Ishbia, the billionaire owner of United Wholesale Mortgage in Pontiac, is reportedly purchasing the NBA s Phoenix Suns and WNBA s Phoenix Mercury ....
Courtesy of United Wholesale Mortgage. This story is available exclusively to Insider subscribers. Become an Insider and start reading now. United Wholesale Mortgage recently went public in the largest SPAC deal ever. CEO Mat Ishbia is a former college basketball player who values a willingness to learn in new hires. Ishbia skips meetings on Thursdays so he can chat more casually with different UWM teams. In January, United Wholesale Mortgage went public in the largest blank-check deal ever. After merging with special purpose acquisition company Gores Holdings IV, UWM, which is the nation s second-biggest mortgage provider, went public at an eye-popping valuation of $16.1 billion. ....
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. ....
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. ....