Phil Knight Net Worth
Phil Knight net worth: Phil Knight is an American businessman, sports fan and philanthropist who has a net worth of $25 billion. Phil Knight earned his net worth as the founder and largest shareholder of Nike Inc. According to the company's most recent SEC filing, Phil owns 24% of Nike through a Delaware-based family trust that is appropriately named "Swoosh". To date, Phil has given more than $1 billion to charity, including a $500 donation to the University of Oregon Health & Science cancer center and $400 million to Stanford University. Phil Knight was born in Portland, Oregon in 1938. He attended Cleveland High School then the University of Oregon where he earned a journalism degree. While in school, Knight was a middle-distance runner. He served in the Army for one year in active and seven more in the Reserves. When he finished with his active duty in the military, Knight decided to go to the Stanford Graduate School of Business where he discovered his calling as an entrepreneur. After finishing Stanford with a Masters in Business Administration, he traveled around the world. During his travels, he came across a company called Tiger Running Shoes.
Knight struck a deal with the owner of Tiger Running Shoes and began selling the products in the Western United States. After sending a couple of pairs to University of Oregon running coach Bill Bowerman, they decided to go into business together and subsequently launched Blue Ribbon Sports in 1964. That company would eventually change its name to Nike. Over the next four decades, Knight grew Nike from a tiny upstart shoe company, into one of the largest and most famous brands of all time.
In 1963, Phil Knight married Penelope Parks and they have three grown children, Matthew, Travis, and Christina. Phil and his wife Penelope now live in Beaverton, Oregon. Phil and Penny, have been long time contributors and supporters for the University of Oregon athletic fund and have been been honored by many times over by the school. The school even named the library after his mother and his father's name appears on the law school. Because of all the contributions Phil Knight has given to sports, he was inducted in the Oregon Sports Hall of Fame.
Net Worth details: Phil Knight controls 24 percent of the world's largest athletic shoe and sports apparel company, Nike. He holds Class A and Class B shares through the holding company Swoosh. Knight's son Travis owns 10 percent of Swoosh although they are still credited to Phil. Knight has donated $500 million to Oregon Health & Science University's cancer institute and another $400 million to Stanford University. Nike had revenue of $32 billion in 2016 and owns the Converse and Jordan brands.