NET WORTH: $39.2 billion
SOURCE OF WEALTH: Nike
FUNDING AREAS: Higher Education, STEM Education, Health, Journalism, Arts & Culture
OVERVIEW: Phil Knight established the Oregon-based Knight Foundation in 1997. And while he has given millions through the charity, he has likely given much more through personal donations. According to a 2016 article in The Oregonian, Knight’s donations through the charity combined with his family’s personal giving exceeds $2 billion.
BACKGROUND: Knight graduated from the University of Oregon and Stanford Graduate School of Business. While at the University of Oregon, he ran track under coach Bill Bowerman. After a brief stint as a CPA, Knight partnered with Bowerman to found Nike Inc., the sneaker and athletic apparel company, whose swoosh logo is considered one of the most recognizable designs in the world. Knight retired from Nike in 2016. Knight also owns Laika, the animation film studio responsible for the 2009 film, Coraline.
ISSUES:
KNIGHT FOUNDATION: In 2018, Knight made news when an SEC filing revealed that he and his wife Penelope had given 12 million Nike shares to the Knight Foundation. At the time, the shares were worth $990 million—they have since ballooned to $1.25 billion. Knight gave an additional $900 million to the foundation in 2020, and the foundation currently holds well over $2 billion in assets.
Knight prioritizes funding for education and has supported his alma maters extensively. He gave $500 million to the University of Oregon in 2006 for the construction of a new science complex in Eugene. He also supports the university’s athletics programs, giving $100 million to found the UO Athletics Legacy Fund. He gave another $300 million to the university in 2020 for ongoing support and $500 million in 2021 to advance science research, which put Knight’s total giving to the school at almost $2 billion. He has also given at least $600 million to Oregon Health & Science University’s Cancer Institute, and more than $500 million to Stanford University over the years. He gave $75 million to establish the Phil and Penny Knight Initiative for Brain Resilience at Stanford University in 2022.
Knight has given grants in smaller amounts to support arts & culture, including $250,000 to the New Museum of Contemporary Art, and $200,000 for Institute of Contemporary Art Miami, Inc. He has also given journalism grants to Columbia University, Poynter Institute for Media Studies, Inc., and the Associated Press.
LOOKING FORWARD: Knight has pledged to give away most of his considerable fortune to charity. Until that happens, expect him to remain laser-focused on his established interest areas through his foundation and personal donations.
CONTACT:
Knight Foundation
1 Bowerman Dr.
Beaverton, OR 97005-0979