Justin Ishbia

Last updated

Justin Ishbia
Born
Justin Ishbia

1976or1977(age 46–47)
EducationB.A. Michigan State University
J.D. Vanderbilt University School of Law
OccupationPrivate equity
Known forFounding partner of Shore Capital Partners & alternate governor of the Phoenix Suns and Phoenix Mercury
Family Mat Ishbia (brother)

Justin R. Ishbia (born 1976/1977) [1] is an American billionaire businessman and private equity investor who is a founding partner of Shore Capital Partners. He is a part majority owner of the Phoenix Suns of the NBA and Phoenix Mercury of the WNBA along with his brother Mat Ishbia. [2] He is also a minority owner of Major League Soccer team Nashville SC. [3]

Contents

Biography

Ishbia was raised in a Jewish family in Birmingham, Michigan, a suburb of Detroit. [4] He graduated with a B.A. from Michigan State University and a J.D. from Vanderbilt University School of Law. [1] After school, he worked as an attorney. [1] He is a founding partner in the Chicago-based private equity firm, Shore Capital Partners. [1]

In December 2022, he and his brother Mat Ishbia agreed to purchase the Phoenix Suns and the Phoenix Mercury from Robert Sarver for $4.0 billion. [5] His role is alternate governor for the team [6] as well as investor in the organization. [7] The deal to the Ishbia brothers was approved by the NBA on February 6, 2023. [8] [9] [10]

He owns a 22% interest in United Wholesale Mortgage, a company founded by his father and now headed by his brother. [1] Forbes lists his net worth as of April 2022 at US$1.5 billion. [1]

Philanthropy

In October 2021, Ishbia donated $10 million to his alma mater, Vanderbilt Law School. He had earlier established a scholarship fund at the school through a donation he made in 2015. [11] In January 2022, Ishbia matched his brother Mat Ishbia's $1 million donation to the V Foundation, supporting cancer research." [12]

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References

  1. 1 2 3 4 5 6 "Justin Ishbia". Forbes - The World's Billionaires . Retrieved 20 December 2022.
  2. ↑ "Sources: Mat Ishbia's purchase of Suns, Mercury to be official soon". espn.com. 25 January 2023. Retrieved 30 January 2023.
  3. ↑ Capps, Milt (12 November 2018). "Venture Notes - November 12, 2018". Venture Nashville. Retrieved 27 January 2023.
  4. ↑ Keene, Louis (20 December 2022). "Phoenix Suns' new owner played for his hometown Maccabi team". Jewish Daily Forward .
  5. ↑ Deb, Sopan; Ganguli, Tania (20 December 2022). "Mat Ishbia Nears $4 Billion Deal for Phoenix Suns and Mercury". The New York Times .
  6. ↑ Wojnarowski, Adrian (20 December 2022). "Mat Ishbia agrees to Suns purchase for record $4 billion". ESPN. Retrieved 27 January 2023.
  7. ↑ Bell, Evan (20 December 2022). "Who is Justin Ishbia? How is Phoenix Suns' reported "alternate governor" related to prospective owner Mat Ishbia: All you need to know". www.sportskeeda.com. Retrieved 7 February 2023.
  8. ↑ "NBA approves sale of Suns, Mercury to Ishbia". ESPN.com. 7 February 2023. Retrieved 7 February 2023.
  9. ↑ Sports, Arizona (7 February 2023). "Mat Ishbia's purchase of Phoenix Suns approved by NBA vote". Arizona Sports. Retrieved 7 February 2023.
  10. ↑ "Mat Ishbia Assumes Controlling Ownership Interest Of Phoenix Suns And Phoenix Mercury". NBA.com. Retrieved 7 February 2023.
  11. ↑ Sloan, Karen (6 October 2021). "Vanderbilt Law bags $10 million gift from alumnus". Reuters. Retrieved 27 January 2023.
  12. ↑ Solari, Chris (7 January 2022). "Dick Vitale's cancer charity gala gets $2 million from MSU booster Mat Ishbia and brother". Detroit Free Press. Retrieved 27 January 2023.


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