# Mat Ishbia: The Third Richest Person in Michigan and His Views on Remote Work
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Chapter 1: Meet Mat Ishbia
Mat Ishbia stands out as one of the most influential mortgage professionals under 40. He is a visionary with an exceptional business acumen, known for cultivating a positive organizational culture that garners respect from employees and competitors alike. Residing in Bloomfield Hills, Michigan, he boasts a net worth exceeding $8.3 billion, making him the third richest individual in the state.
Section 1.1: Background and Early Life
Born on January 6, 1980, in suburban Detroit, Mat Ishbia grew up in a family that valued education and hard work. His father, an attorney, started a mortgage company as a side venture, which Mat would later scale. Despite receiving basketball recruitment offers from various small colleges, he chose to attend Michigan State University, where he earned a scholarship but did not start in games. Nevertheless, he was part of the team during their national championship victory in 2000, which left a lasting impression on his professional journey.
"I left Michigan State basketball and said, 'Can I take some of the basketball things, some business things we learned playing basketball and apply it to the real-world business, and see what we can do?' That really is what has helped us take it to this level, that mentality of caring about every detail, the client experience, and being in the weeds of the business."
Subsection 1.1.1: Career Path
In 2003, after completing his degree, Mat joined his father's company, United Wholesale Mortgage (UWM), as the 12th employee. He harnessed his experiences from basketball to drive the company forward. By 2013, he ascended to the role of CEO, steering UWM to become one of the most innovative lenders in the mortgage industry.
Section 1.2: Company Growth
UWM experienced significant expansion, moving into a 610,000 square-foot facility in Pontiac, Michigan, in 2018. Within a year, another building was acquired, totaling 900,000 additional square feet. In 2019, the company achieved a record-breaking $107.7 billion in mortgage originations.
Chapter 2: The Stance on Remote Work
Mat Ishbia's firm belief is that a company cannot achieve its fullest potential while permitting remote work. He emphasizes the importance of face-to-face interactions to build team chemistry and culture.
Section 2.1: Employee Well-being Initiatives
To show appreciation for his employees' time, Mat has implemented various initiatives:
- Firm 40: He restricts work hours to 40 per week and discourages weekend work, encouraging employees to prioritize family time.
- Convenience Services: A convenience store, Starbucks, and dry-cleaning services are available on-site to minimize commuting time.
- Health Facilities: A family doctor's office is accessible to employees, promoting health and convenience.
- Recreational Amenities: A top-notch gym and a basketball court are also part of the workplace, catering to employee wellness.
Section 2.2: Culture and Communication
Daily huddles kick off the day for each division, and monthly one-on-one meetings with supervisors are standard practice. Ishbia believes these critical interactions cannot be replicated through screens, asserting that many companies falter by prioritizing profit over value.
He continuously encourages his team to streamline processes, make informed decisions, and embrace change. His candid advice for prospective employees is clear: "If you don't like change, you won't fit here."
Chapter 3: Philanthropy and Giving Back
In 2021, Ishbia made headlines by donating $32 million to Michigan State University, marking the largest single cash contribution in the institution's history. His philanthropic efforts reflect his commitment to supporting causes that align with his values.
Have you ever considered what causes you would champion if you had Mat's resources?
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