Philip Hampson Knight (born February 24, 1938) is an American billionaire businessman and philanthropist, best known as the co-founder and chairman emeritus of Nike, Inc., a leading global sports equipment and apparel company. He previously served as its chairman and CEO.
As of December 2023, his net worth was estimated at $45.0 billion by Forbes. Knight is also the owner of the stop-motion film production company Laika. A graduate of the University of Oregon and Stanford Graduate School of Business, he co-founded Nike with his former coach Bill Bowerman. Knight has donated over $2 billion to his alma mater and Oregon Health & Science University.
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Phil Knight’s Net Worth
Phil Knight, which has a net worth of $43 billion. As the founder and largest individual shareholder of Nike, Knight and his family own about 300 million shares. He personally holds 32 million shares, while his son Travis Knight owns 41 million shares.
In April 2016, Shoe Dog, Knight’s memoir, was published by Simon & Schuster. Knight has donated over $1 billion to charity, including $500 million to the University of Oregon Health & Science cancer center, $400 million to Stanford, and $105 million to Stanford’s business school.
Early Life
Phil Hampson Knight was born on February 24, 1938, in Portland, Oregon, to Bill Knight, a lawyer and newspaper publisher, and Lota Cloy Knight. He grew up in the Eastmoreland neighborhood and attended Cleveland High School.
Knight worked at The Oregonian after his father denied him a summer job at the Oregon Journal. He earned a B.B.A. from the University of Oregon in 1959, where he also ran track and was a sports reporter. Knight’s best mile time was 4 minutes, 13 seconds.
Career
After graduating from the University of Oregon, Phil Knight served in the U.S. Army and later earned an MBA from Stanford in 1962. During a trip to Kobe, Japan, he discovered Tiger running shoes and secured distribution rights for the Western U.S. Knight founded Blue Ribbon Sports (BRS) with his former track coach Bill Bowerman in 1964, which later became Nike. Knight grew Nike into a global brand. He also invested in Laika, which produced the film Coraline. Knight retired from Nike’s board in 2016.
Personal Life
Phil Knight married Penelope “Penny” Parks on September 13, 1968. They own a home in La Quinta, California. Knight’s son, Matthew, tragically died in a scuba diving accident in 2004. His other son, Travis, runs Laika animation studio, with Knight serving as chairman.
Knight resides in a rural area outside Hillsboro, Oregon, and owns a flight hangar with two private jets. The film “Air”, produced by Ben Affleck and Matt Damon, tells the story of Nike’s partnership with Michael Jordan, with Affleck portraying Knight.
Does Phil Knight still own Nike?
Phil Knight and his family still own 20% of Nike, which had a fiscal 2024 revenue of $51 billion. Knight, a former track athlete at the University of Oregon, co-founded Nike with his former track coach, Bill Bowerman, in 1964. They each invested $500 to start the company, originally named Blue Ribbon Sports, which eventually became the global brand Nike.
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Conclusion
Phil Knight’s life is a tale of entrepreneurial spirit, athletic prowess, and generous philanthropy. From co-founding Nike with a modest investment to becoming one of the wealthiest individuals on the planet, Knight’s journey is both inspirational and impactful.
FAQ about Phil Knight
- How did Phil Knight start Nike? Phil Knight co-founded Nike, initially named Blue Ribbon Sports, in 1964 with his former track coach Bill Bowerman, each investing $500.
- What is Phil Knight’s net worth? Phil Knight’s estimated net worth is $44.2 billion.
- Is Phil Knight still involved with Nike? While he retired from his position in 2016, Knight remains connected to Nike through his ownership of the company’s shares.
- What are some of Phil Knight’s philanthropic contributions? Knight has donated $500 million to the University of Oregon twice and $400 million to Stanford, among other contributions.
- Did Phil Knight have any children? Yes, Phil Knight and his wife, Penny, have three children: Travis, Matthew (deceased), and Christina Knight.
