Mat Ishbia has gone from a walk-on at Michigan State to one of the world's richest people.
The former point guard, who was a part of the Spartans team that won the 2000 NCAA championship, is now the CEO of United Wholesale Mortgage and is set to see his net worth increase to $11.3 billion as his company prepares to go public, according to Bloomberg's Shahien Nasiripour, Crystal Tse, and Tom Maloney.
Ishbia's new valuation makes him the 51st richest person in the world and, as noted by Shahar Ziv of Forbes, worth more than Michael Jordan, LeBron James, Shaquille O'Neal, and Dwyane Wade combined.
Forbes estimates Jordan's net worth at $1.6 billion, while James' 2020 earnings are estimated at $88.2 million.
The 40-year-old Ishbia played at Michigan State from 1999-02, averaging 0.6 points, 0.3 rebounds, and 0.3 assists in 48 games. He became CEO of United - a company founded by his father, Jeffrey - in 2013.
