Justin Ishbia
{{Short description|American businessman}}
{{Use mdy dates|date=June 2025}}
{{Infobox person
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| caption = Ishbia in 2023
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| birth_date = {{birth based on age as of date|44|2022|5|26}}{{cite news |last1=Klis |first1=Mike |title=Mat and Justin Ishbia among bidders to buy Denver Broncos, sources say |url=https://www.9news.com/article/sports/nfl/denver-broncos/mat-and-justin-ishbia-among-bidders-to-buy-denver-broncos/73-aa2920a0-48cd-4913-95c3-e4a59fe4286c |access-date=6 June 2025 |publisher=9News |date=May 26, 2022}}
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| education = Eli Broad College of Business (BA)
Vanderbilt University Law School (JD)
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| known_for = Founding partner of Shore Capital Partners
Part majority owner of the Phoenix Suns and Phoenix Mercury
| occupation = Private equity investor
| children =
| parents =
| family = Mat Ishbia (brother)
}}
Justin Ryan Ishbia{{cite news |last1=Robertson |first1=Seth |title=Vanderbilt Law School Board of Advisors |url=https://law.vanderbilt.edu/vanderbilt-law-school-board-of-advisors/ |access-date=6 June 2025 |publisher=Vanderbilt Law School |date=24 March 2014}} 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 National Basketball Association and Phoenix Mercury of the Women's National Basketball Association along with his brother Mat Ishbia.{{cite web |date=January 25, 2023 |title=Sources: Mat Ishbia's purchase of Suns, Mercury to be official soon |url=https://www.espn.com/nba/story/_/id/35523911/mat-ishbia-purchase-suns-mercury-official-soon |access-date=January 30, 2023 |website=espn.com |language=en-US}} He is also a minority owner of the Nashville SC of Major League Soccer{{cite news |last=Capps |first=Milt |date=November 12, 2018 |title=Venture Notes - November 12, 2018|url=https://www.venturenashville.com/venture-notes---november-12-2018-cms-1787 |url-status= |work=Venture Nashville|location= |archive-url= |archive-date= |access-date=January 27, 2023}} and the Chicago White Sox of Major League Baseball.{{Cite news |last=Greenberg |first=Jon |date=February 25, 2025 |title=Billionaire Justin Ishbia abandons bid for Twins to boost his stake in White Sox: Sources |url=https://www.nytimes.com/athletic/6150455/2025/02/21/white-sox-twins-justin-ishbia-jerry-reinsdorf/ |access-date=April 14, 2025 |work=The New York Times |language=en-US |issn=0362-4331}}
Biography
Ishbia was raised in a Jewish family in Birmingham, Michigan, a suburb of Detroit.{{Cite news|first=Louis |last= Keene|authorlink= |title= Phoenix Suns' new owner played for his hometown Maccabi team |newspaper=Jewish Daily Forward|date=December 20, 2022 |url=https://forward.com/fast-forward/529144/mat-ishbia-jewish-new-phoenix-suns-owner/}} He played high school baseball at Seaholm High School in Birmingham. He graduated with a Bachelor of Arts from the Eli Broad College of Business at Michigan State University{{cite news |last1=Hamilton |first1=Brian |title=Justin Ishbia donates $10 million to Michigan State athletics, with baseball scoring big |url=https://www.nytimes.com/athletic/5772222/2024/09/16/justin-ishbia-michigan-state-donation/ |access-date=6 June 2025 |work=The New York Times |date=13 December 2024}} and a Juris Doctor from Vanderbilt University School of Law.{{cite web |last= |first= |authorlink= |date= |title=Justin Ishbia |url=https://www.forbes.com/profile/justin-ishbia/ |archive-url= |archive-date= |accessdate=December 20, 2022 |website=Forbes - The World's Billionaires}} He also earned a certificate from Vanderbilt's Owen Graduate School of Management. After school, he worked as an attorney. He is a founding partner in the Chicago-based private equity firm, Shore Capital Partners.
In 2021, Ishibia and his brother, Mat Ishbia, bought a small stake in the Chicago White Sox. Their purchase was not reported until January 2025.{{cite news |last1=Badenhausen |first1=Kurt |last2=Novy-Williams |first2=Eben |title=Ishbia Brothers Quietly Invested in MLB’s White Sox in 2021 |url=https://www..com/business/team-sales/2025/mat-justin-ishbia-white-sox-stake-twins-1234823444/ |access-date=8 June 2025 |work=Sportico |date=13 January 2025}}
In May 2022, he and his brother were reported to be among the bidders to buy the Denver Broncos of the National Football League. The following month, it was announced that the Broncos were being sold to a consortium led by former Walmart chairman Rob Walton for $4.65 billion.{{cite news |last1=O'Halloran |first1=Ryan |title=Broncos enter into purchase agreement with Walton-Penner family for record $4.65 billion sale price |url=https://www.denverpost.com/2022/06/07/broncos-walton-penner-family-purchase-agreement/ |access-date=June 8, 2022 |work=The Denver Post |date=June 7, 2022}}
In December 2022, he and his brother agreed to purchase the Phoenix Suns and the Phoenix Mercury from Robert Sarver for $4.0 billion.{{Cite news|first1= Sopan |last1= Deb|first2=Tania |last2= Ganguli|authorlink= |title= Mat Ishbia Nears $4 Billion Deal for Phoenix Suns and Mercury |newspaper=The New York Times|date=December 20, 2022 |url=https://www.nytimes.com/2022/12/20/sports/basketball/phoenix-suns-mat-ishbia-nba.html }} His role is alternate governor for the team{{cite news |last=Wojnarowski |first=Adrian |date=December 20, 2022 |title=Mat Ishbia agrees to Suns purchase for record $4 billion |url=https://www.espn.com/nba/story/_/id/35292815/sources-mat-ishbia-finalizing-suns-purchase-4-billion |url-status= |work=ESPN |location= |archive-url= |archive-date= |access-date=January 27, 2023}} as well as investor in the organization.{{Cite web|url=https://www.sportskeeda.com/basketball/news-who-justin-ishbia-how-phoenix-suns-reported-alternate-governor-related-prospective-owner-mat-ishbia-all-need-know|title=Who is Justin Ishbia? How is Phoenix Suns' reported "alternate governor" related to prospective owner Mat Ishbia: All you need to know|first=Evan|last=Bell|website=www.sportskeeda.com|date=December 20, 2022 |accessdate=February 7, 2023}} The deal to the Ishbia brothers was approved by the NBA on February 6, 2023.{{Cite web|url=https://www.espn.com/nba/story/_/id/35605269/nba-board-governors-approves-sale-suns-mercury-mat-ishbia|title=NBA approves sale of Suns, Mercury to Ishbia|date=February 7, 2023|website=ESPN.com|accessdate=February 7, 2023}}{{Cite web|url=https://arizonasports.com/story/3487485/mat-ishbias-purchase-of-phoenix-suns-approved-nba-official/|title=Mat Ishbia's purchase of Phoenix Suns approved by NBA vote|first=Arizona|last=Sports|date=February 7, 2023|website=Arizona Sports|accessdate=February 7, 2023}}{{cite web|url=https://www.nba.com/suns/news/mat-ishbia-assumes-controlling-ownership-interest-of-phoenix-suns-and-phoenix-mercury |title=Mat Ishbia Assumes Controlling Ownership Interest Of Phoenix Suns And Phoenix Mercury |work=NBA.com |date= |accessdate=February 7, 2023}}
He owns a 22% interest in United Wholesale Mortgage, a company founded by his father and now headed by his brother. Forbes listed his net worth as of June 2024 at US$5.4 billion.{{Cite web |title=Justin Ishbia |url=https://www.forbes.com/profile/justin-ishbia/ |access-date=June 5, 2024 |website=Forbes |language=en}}
During the 2024–25 Major League Baseball offseason, it was reported that Ishbia and his brother were interested in purchasing the Minnesota Twins from the Pohlad family. However, by February 2025, the brothers had stopped pursuing the purchase and Ishbia was reportedly interested instead in increasing his stake in the White Sox.{{cite news |last1=Greenberg |first1=Jon |title=Billionaire Justin Ishbia abandons bid for Twins to boost his stake in White Sox: Sources |url=https://www.nytimes.com/athletic/6150455/2025/02/21/white-sox-twins-justin-ishbia-jerry-reinsdorf/ |access-date=8 June 2025 |work=The New York Times |date=25 February 2025}} In June 2025, Ishbia reached an agreement with Chicago White Sox majority owner Jerry Reinsdorf that established the framework for Ishbia to take over a controlling stake in the White Sox after 2029.{{cite web |title=White Sox Announce Long-Term Ownership Investment Agreement |url=https://www.mlb.com/press-release/press-release-white-sox-announce-long-term-ownership-investment-agreement |website=MLB.com |access-date=6 June 2025 |language=en}}
Philanthropy
File:Ishbia Field (54382374432).jpg was renamed Jeff Ishbia Field in honor of Ishbia's father after Ishbia's donation to the school.{{cite news |title=MSU Athletics Receives $10 Million Gift From Alumni Kristen and Justin Ishbia |url=https://msuspartans.com/news/2024/9/17/general-msu-athletics-receives-10-million-gift-from-alumni-kristen-and-justin-ishbia |access-date=8 June 2025 |publisher=Michigan State University |date=September 17, 2024 |language=en}}]]
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.{{cite news |last=Sloan |first=Karen |date=October 6, 2021 |title=Vanderbilt Law bags $10 million gift from alumnus |url=https://www.reuters.com/legal/legalindustry/vanderbilt-law-bags-10-million-gift-alumnus-2021-10-06/ |url-status= |work=Reuters |location= |archive-url= |archive-date= |access-date=January 27, 2023}} In January 2022, Ishbia matched his brother Mat Ishbia's $1 million donation to the V Foundation, supporting cancer research."{{Cite web |last=Solari |first=Chris |title=Dick Vitale's cancer charity gala gets $2 million from MSU booster Mat Ishbia and brother |url=https://www.freep.com/story/sports/college/michigan-state/spartans/2022/01/07/michigan-state-baskeball-dick-vitale-gala-mat-ishbia-donation/9121947002/ |access-date=November 1, 2024 |website=Detroit Free Press |language=en-US}} In 2024, Ishbia donated $10 million to his alma mater Michigan State University.{{cite news |title=MSU Athletics receives $10M gift from alumni Kristen and Justin Ishbia |url=https://msutoday.msu.edu/news/2024/10-million-gift-from-alumni-kristen-and-justin-ishbia#:~:text=The%20Ishbias'%20gift%20includes%20%248.5,upgrades%20to%20the%20baseball%20facilities |access-date=November 1, 2024}}
References
{{Reflist}}
{{Phoenix Suns}}
{{Phoenix Mercury}}
{{NBAOwners}}
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Category:American billionaires
Category:21st-century American businesspeople
Category:Phoenix Mercury owners
Category:Eli Broad College of Business alumni
Category:Vanderbilt University Law School alumni
Category:Businesspeople from Michigan
Category:People from Birmingham, Michigan
Category:Jewish American sports executives and administrators