Hoops Walk-On Turned Mortgage Billionaire Donates to Alma Mater
(Bloomberg) -- Mortgage billionaire Mat Ishbia is donating $32 million to Michigan State University, where he was a basketball walk-on under famed coach Tom Izzo.
The school called the gift from Ishbia, who runs United Wholesale Mortgage, the largest-ever one-time commitment from a single person.
Ishbia is worth $13 billion after he took his family company public in a merger with a special purpose acquisition company that closed last month, according to figures compiled by Bloomberg. UWM Holdings Corp., better known as United Wholesale Mortgage, has a market value north of $16 billion.
Ishbia graduated from Michigan State in 2003, after having played for the school’s national championship team in 2000.
He was scoreless in the one minute he played in the national championship game against the University of Florida, school records show.
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