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Justin Ishbia

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Justin Ishbia
Born1977 or 1978 (age 47–48)[1]
EducationEli Broad College of Business (BA)
Vanderbilt University Law School (JD)
OccupationPrivate equity investor
Known forFounding partner of Shore Capital Partners
Part majority owner of the Phoenix Suns and Phoenix Mercury
FamilyMat Ishbia (brother)

Justin Ryan Ishbia[2] 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.[3] He is also a minority owner of the Nashville SC of Major League Soccer[4] and the Chicago White Sox of Major League Baseball.[5]

Biography

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Ishbia was raised in a Jewish family in Birmingham, Michigan, a suburb of Detroit.[6] 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[7] and a Juris Doctor from Vanderbilt University School of Law.[8] He also earned a certificate from Vanderblit's Owen Graduate School of Management.[1] After school, he worked as an attorney.[8] He is a founding partner in the Chicago-based private equity firm, Shore Capital Partners.[8]

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.[9]

In May 2022, he and his brother were reported to be among the bidders to buy the Denver Broncos of the National Football League.[1] 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.[10]

In December 2022, he and his brother agreed to purchase the Phoenix Suns and the Phoenix Mercury from Robert Sarver for $4.0 billion.[11] His role is alternate governor for the team[12] as well as investor in the organization.[13] The deal to the Ishbia brothers was approved by the NBA on February 6, 2023.[14][15][16]

He owns a 22% interest in United Wholesale Mortgage, a company founded by his father and now headed by his brother.[8] Forbes listed his net worth as of June 2024 at US$5.4 billion.[17]

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.[18] 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.[19]

Philanthropy

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The field at Drayton McLane Baseball Stadium was renamed Jeff Ishbia Field in honor of Ishbia's father after Ishbia's donation to the school.[20]

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.[21] In January 2022, Ishbia matched his brother Mat Ishbia's $1 million donation to the V Foundation, supporting cancer research."[22] In 2024, Ishbia donated $10 million to his alma mater Michigan State University.[23]

References

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  1. ^ a b c Klis, Mike (May 26, 2022). "Mat and Justin Ishbia among bidders to buy Denver Broncos, sources say". 9News. Retrieved June 6, 2025.
  2. ^ Robertson, Seth (March 24, 2014). "Vanderbilt Law School Board of Advisors". Vanderbilt Law School. Retrieved June 6, 2025.
  3. ^ "Sources: Mat Ishbia's purchase of Suns, Mercury to be official soon". espn.com. January 25, 2023. Retrieved January 30, 2023.
  4. ^ Capps, Milt (November 12, 2018). "Venture Notes - November 12, 2018". Venture Nashville. Retrieved January 27, 2023.
  5. ^ Greenberg, Jon (February 25, 2025). "Billionaire Justin Ishbia abandons bid for Twins to boost his stake in White Sox: Sources". The New York Times. ISSN 0362-4331. Retrieved April 14, 2025.
  6. ^ Keene, Louis (December 20, 2022). "Phoenix Suns' new owner played for his hometown Maccabi team". Jewish Daily Forward.
  7. ^ Hamilton, Brian (December 13, 2024). "Justin Ishbia donates $10 million to Michigan State athletics, with baseball scoring big". The New York Times. Retrieved June 6, 2025.
  8. ^ a b c d "Justin Ishbia". Forbes - The World's Billionaires. Retrieved December 20, 2022.
  9. ^ Badenhausen, Kurt; Novy-Williams, Eben (January 13, 2025). "Ishbia Brothers Quietly Invested in MLB's White Sox in 2021". Sportico. Retrieved June 8, 2025.
  10. ^ O'Halloran, Ryan (June 7, 2022). "Broncos enter into purchase agreement with Walton-Penner family for record $4.65 billion sale price". The Denver Post. Retrieved June 8, 2022.
  11. ^ Deb, Sopan; Ganguli, Tania (December 20, 2022). "Mat Ishbia Nears $4 Billion Deal for Phoenix Suns and Mercury". The New York Times.
  12. ^ Wojnarowski, Adrian (December 20, 2022). "Mat Ishbia agrees to Suns purchase for record $4 billion". ESPN. Retrieved January 27, 2023.
  13. ^ Bell, Evan (December 20, 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 February 7, 2023.
  14. ^ "NBA approves sale of Suns, Mercury to Ishbia". ESPN.com. February 7, 2023. Retrieved February 7, 2023.
  15. ^ Sports, Arizona (February 7, 2023). "Mat Ishbia's purchase of Phoenix Suns approved by NBA vote". Arizona Sports. Retrieved February 7, 2023.
  16. ^ "Mat Ishbia Assumes Controlling Ownership Interest Of Phoenix Suns And Phoenix Mercury". NBA.com. Retrieved February 7, 2023.
  17. ^ "Justin Ishbia". Forbes. Retrieved June 5, 2024.
  18. ^ Greenberg, Jon (February 25, 2025). "Billionaire Justin Ishbia abandons bid for Twins to boost his stake in White Sox: Sources". The New York Times. Retrieved June 8, 2025.
  19. ^ "White Sox Announce Long-Term Ownership Investment Agreement". MLB.com. Retrieved June 6, 2025.
  20. ^ "MSU Athletics Receives $10 Million Gift From Alumni Kristen and Justin Ishbia". Michigan State University. September 17, 2024. Retrieved June 8, 2025.
  21. ^ Sloan, Karen (October 6, 2021). "Vanderbilt Law bags $10 million gift from alumnus". Reuters. Retrieved January 27, 2023.
  22. ^ Solari, Chris. "Dick Vitale's cancer charity gala gets $2 million from MSU booster Mat Ishbia and brother". Detroit Free Press. Retrieved November 1, 2024.
  23. ^ "MSU Athletics receives $10M gift from alumni Kristen and Justin Ishbia". Retrieved November 1, 2024.
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