Philip Knight Philanthropy
Philip Hampson Knight, co-founder of Nike, Inc. built the company along with track coach at Bill Bowerman to carry out a plan he developed while taking his masters degree at Stanford University. The plan was to make low-cost running shoes in Japan and sell them in the United States. It became a reality when he founded Blue Ribbon Sports in 1964. Its first shoes, called Tigers, immediately gained a cult following among runners during track meets. After acquiring trademark on the “Swoosh” logo, Knight changed the company name to Nike, after the Greek goddess of victory. The rest is history. Nike revolutionized the athletics shoe industry, posting record-breaking growth year after year.
Philip Knight, a native of Portland, Oregon, was born on February 24, 1938. He attended Cleveland High School and the University of Oregon where he became a dedicated track athlete and earned a degree in journalism. He earned a masters degree in business administration from Stanford University in California.
Philip Knight has come a long way from a middle-distance runner to become an American billionaire, garnering a net worth of US$10.5 billion after his resignation as CEO of Nike, making him the 31st richest American.
Following his resignation, Knight has intensified his philanthropic efforts directed at athletics development, higher education, and cancer research; making historically large contributions to universities and institutes in his native Oregon.
In support of his alma mater, Knight has continued to support athletics at the University of Oregon, contributing an estimated $230 million dollars. Together with wife Penny, Knight also contributed $100 million to the University of Oregon’s Athletics Legacy Fund in 2007.
Philip Knight has supported expansion efforts of Stanford University Graduate School of Business, donating an unprecedented $105 million, the largest donation to a business school in history. The donation was for the construction of a new campus to be called the Knight Management Center. In addition, Knight also donated to his high school alma mater Cleveland High School for the construction of a sports complex.
In memory of the Knights’ close friend Linda Conant who died of cancer, Knight has channeled funding for extensive cancer research. In October 2008, Knight and his wife Penny donated $100 million to the Oregon Health and Science University for the construction of the OHSU Cancer Institute, also the largest donation given to the university. Knight considers the gift a tribute to acclaimed cancer researcher Dr. Brian Druker and his efforts for Oregon to lead in treatment and prevention of cancer. In recognition of the couple’s generosity, the university’s cancer institution has been renamed the OHSU Knight Cancer Institute.
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