Justin Ishbia
{{Short description|American businessman}}
{{Use dmy dates|date=October 2021}}
{{Infobox person
| image =
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| caption = Ishbia in 2023
| birth_name = Justin Ishbia
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| education = B.A. Michigan State University
J.D. Vanderbilt University School of Law
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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
| children =
| parents =
| family = Mat Ishbia (brother)
}}
Justin R. Ishbia 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.{{cite web |date=2023-01-25 |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=2023-01-30 |website=espn.com |language=en-US}} He is also a minority owner of Major League Soccer team Nashville SC {{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 {{Cite news |last=Greenberg |first=Jon |date=2025-02-25 |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=2025-04-14 |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 graduated with a B.A. from Michigan State University and a J.D. 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}} After school, he worked as an attorney. He is a founding partner in the Chicago-based private equity firm, Shore Capital Partners.
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.{{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=20 December 2022 |accessdate=7 February 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=7 February 2023|website=ESPN.com|accessdate=7 February 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=7 February 2023|website=Arizona Sports|accessdate=7 February 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=2023-02-07}}
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=2024-06-05 |website=Forbes |language=en}}
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.{{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=2024-11-01 |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=1 November 2024}}
References
{{Reflist}}
{{Phoenix Suns}}
{{Phoenix Mercury}}
{{NBAOwners}}
{{Portal bar|Biography|United States|Business|Basketball}}
{{Authority control}}
{{DEFAULTSORT:Ishbia, Justin}}
Category:American billionaires
Category:21st-century American businesspeople
Category:Phoenix Mercury owners