Mat Ishbia
Source of wealth: Mortgage lender
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The scale of their wealth
Health
The price of life
Let's compare Mat Ishbia's fortune with the healthcare spending of a massive country
Mat Ishbia could fund the entire healthcare system of DR Congo, with a population of over 105,800,000 people, for approximately 3.5 years.
But even if we compare their fortune with that of a rich country
On the other end, Mat Ishbia could cover the healthcare spending of Luxembourg, considered the most heavily funded healthcare system in the world, for 1.5 years.
Education
Buying the future
Let's also compare their fortune with education spending, first with a poor country
Mat Ishbia could cover the total cost of Nigeria's education system, the most populous country in Africa with over 243,000,000 inhabitants, for 2.3 years.
And yes, we can also compare it with a rich country
But they couldn't just cover the cost of a poor country; Luxembourg is considered the country with the highest per capita investment in education in the world, and Mat Ishbia could pay for it entirely for 3.1 years.
Research
The monopoly on progress
Coming full circle, we think it's also interesting to add another gigantic country
Mat Ishbia could fully fund the state research budget of Pakistan, the fifth most populous country in the world with over 260,000,000 inhabitants, for 12.9 years.
And of course, the country that invests the most per capita worldwide
But even if we compare the total wealth of Mat Ishbia with Israel, the country that invests the most per capita in research in the world, they could cover the total cost of the system for 0.3 years.
Gold
Everyday luxuries
Mat Ishbia's fortune is equivalent to 53 tons of gold. It's hard to process, since we don't usually keep a handful of gold bars in our piggy banks.
A standard gold ring usually weighs between 4 and 7 grams. Let's say this one weighs 5 grams. It's usually 18 karats.
Based on today's gold price (excluding the jeweler's commission, shipping, or anything else), that ring would be worth $546.86.
Mat Ishbia could buy 14,029,130 gold rings. That's a lot of fingers and way too many gifts!!
And if you're struggling to visualize that many rings, it would take 3 trucks to transport them. Although Mat Ishbia will almost certainly have enough money left over to pay for the gas.
Biography
Mat Ishbia is chairman and CEO of Michigan-based mortgage lender United Wholesale Mortgage, now UWM Holdings, founded by his father Jeff in 1986.
He owns a 61% stake in the company, which went public through a merger with a blank check company in 2021.
Launched as a side gig while Jeff worked as an attorney for his day job, UWM grew to become America's largest wholesale lender in 2015.
Mat joined the firm in 2003 after graduating from Michigan State and became CEO in 2013.
His brother Justin is also a billionaire and owns a 19% stake in the company.
In 2023, the Ishbia brothers bought a majority stake in the NBA's Phoenix Suns in a deal that valued the team at $4 billion.
Financial Assets
Monthly wealth history
Fortune comparison
Historical data not available for comparison