Justin Ishbia | |
---|---|
Born | Justin Ishbia 1976 or 1977 (age 47–48) |
Education | B.A.
Michigan State University J.D. Vanderbilt University School of Law |
Occupation | Private equity |
Known for | Founding 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]
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]
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]