Phil Knight, the American business magnate and co-founder of the global sportswear giant Nike, Inc., stands as one of the richest men in the world. With an estimated net worth of $44.2 billion, he ranks 28th in Forbes Magazine’s list of the world’s wealthiest individuals.
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Who is Phil Knight?
Philip Hampson Knight, born on February 24, 1938, in Portland, Oregon, U.S., is best known for co-founding Nike, Inc. in 1964, originally named Blue Ribbon Sports. Knight served as CEO of Nike from its inception until 2004, guiding it to its status as one of the most successful and recognized companies globally.
Early Life and Educational Background
Knight’s journey began in Oregon, where he was born to Bill Knight and Lota Hatfield. He pursued his education at the University of Oregon in Eugene, contributing as a sports reporter for the Oregon Daily Emerald and running for the Oregon track and field program. A member of the Phi Gamma Delta fraternity, he graduated with a business degree (B.B.A.) in 1959 and received his Army Reserve Commission the same year.
As a middle-distance runner, Knight achieved a personal best of 1 mile in 4 minutes, 13 seconds. In 1977, he co-founded an American running team called Athletics West, alongside Bill Bowerman and Geoff Hollister.
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Phil Knight Net Worth
Knight’s net worth is a testament to his successful tenure at Nike, his ownership stakes, and other investments, including Laika, a stop-motion film production company. As of the latest reports, his net worth is a staggering $44.2 billion.
Age
Phil Knight is currently 85 years old.
Height
Phil Knight stands at 5 feet 9 inches tall (1.753m or 175.26cm).
Investment in Nike
In 1964, Knight, along with his former track coach Bill Bowerman, each invested $500 to start what would eventually become the behemoth known as Nike.
Ownership of Nike
Though Knight retired from his position at Nike in 2016, he remains deeply connected to the company. He owns most of the company through a limited liability company called Swoosh, which holds $13.9 billion worth of Nike stock.
Is Phil Knight One of the Richest Men in the World?
Yes, with a net worth of $44.2 billion, Knight is indeed one of the richest individuals globally, ranking 28th in Forbes Magazine’s list.
Personal Life: Marriage and Children
Knight met his wife, Penelope “Penny” Parks, at Portland State University. They married on September 13, 1968, and have three children: Travis, Matthew, and Christina Knight. Tragically, his son Matthew passed away in a scuba diving accident in 2004.
Philanthropy
Knight’s philanthropic efforts are noteworthy. He has donated significant sums to Stanford and the University of Oregon, including two $500 million donations to Oregon in 2013 and 2021, and $400 million to Stanford in 2016. Additionally, Knight has supported various Republican Party candidates in Oregon.
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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.
