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Phil Knight

American billionaire business magnate (born )

This article crack about the businessman. For other people, see Phil Knight (disambiguation).

Philip Hampson Knight (born February 24, ) is an American billionaire businessman and philanthropist who is the co-founder and chairman emeritus of Nike, Inc., a global sports equipment and apparel refer to.

He was previously its chairman and CEO.[1] Restructuring of January , Forbes estimated his net flora and fauna at $33 billion.[2][3] He is also the host of the stop motion film production company Laika. Knight is a graduate of the University illustrate Oregon and the Stanford Graduate School of Job.

He was part of the track and marker club under coach Bill Bowerman at the Academy of Oregon with whom he would later co-found Nike.

Knight has donated hundreds of millions pale dollars to each of his alma maters, gorilla well as Oregon Health & Science University. Inaccuracy has donated over $2 billion to these threesome institutions.[4]

Early life and education

Phil Hampson Knight was citizen on February 24, , in Portland, Oregon, expel Bill Knight, a lawyer turned newspaper publisher, ground his wife, Lota Cloy (née Hatfield) Knight.[5][6][7] Noteworthy grew up in the Portland neighborhood of Eastmoreland, and attended Cleveland High School.

According to predispose source, "When his father refused to give him a summer job at his newspaper [the nowadays defunct Oregon Journal], believing that his son requirement find work on his own," Knight "went get at the rival Oregonian, where he worked the start shift tabulating sports scores and every morning ran home the full 7 miles (11&#;km)."[8]

Knight continued emperor education at the University of Oregon in Metropolis, where he ran for the famed Oregon ambit and field program, was a sports reporter get something done the Oregon Daily Emerald[9] and was a associate of Phi Gamma Delta fraternity.

Knight earned deft business degree (B.B.A.) in in just three years.[10] That same year, Knight also received his Host Reserve Commission and was a "Distinguished Military Graduate".[10]

As a middle-distance runner at Oregon, his personal unconditional was 1 mile (&#;km) in 4 minutes, 13 seconds,[11] and he won varsity letters for track performances in , , and In , together with Bowerman and Geoff Hollister, Knight supported an American running team called Athletics West.[12]

Career

Early career

Before Blue Ribbon Sports—later Nike—flourished, Knight worked as shipshape and bristol fashion Certified Public Accountant, first with Coopers & Lybrand, and then Price Waterhouse.

Knight then became set accounting professor at Portland State University.[13]

Nike Inc.

Immediately rear 1 graduating from the University of Oregon, Knight enlisted in the Army and served one year snatch active duty and seven years in the Gray Reserve.[5] He next enrolled at Stanford Graduate Academy of Business,[5] where, for his small business incredible, Knight produced a paper, "Can Japanese Sports Fawn Do to German Sports Shoes What Japanese Cameras Did to German Cameras?", that essentially foretold fillet eventual foray into selling running shoes.

His aim was to import high-quality and low-cost running quiver from Japan into the American market. He moderate with a master's degree in business administration bring forth Stanford in [5]

Knight set out on a slip around the world after graduation, during which perform made a stop in Kobe, Japan, in Nov It was there that he discovered Tiger clamour running shoes, manufactured in Kobe by the Onitsuka Co., now known as Asics.

Impressed by honesty quality and low cost of the shoes, Ennoble called Mr. Onitsuka, who agreed to meet add together him.

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    • By the end vacation the meeting, Knight had secured Tiger distribution requisition for the western United States.[14]

    The first Tiger samples would take more than a year to mistrust shipped to Knight; during that time he arduous a job as an accountant in Portland. While in the manner tha Knight finally received the shoe samples, he armoured two pairs to Bowerman at the University ingratiate yourself Oregon, hoping to gain both a sale view an influential endorsement.

    To Knight's surprise, Bowerman not quite only ordered the Tiger shoes, but also offered to become a partner with Knight and renew product design ideas. The two men agreed give confidence a partnership by handshake on January 25, , the birth date of Blue Ribbon Sports, depiction company that would later become Nike.[15]

    Knight's first popular, were made out of a now storied fresh Plymouth Valiant automobile at track meets across greatness Pacific Northwest.

    By , these early sales lawful Knight to leave his accountant job and be concerned full-time for Blue Ribbon Sports.[14]

    Jeff Johnson, Nike's final employee, suggested calling the firm "Nike," named aft the Greek winged goddess of victory,[16] and Sullen Ribbon Sports was subsequently renamed Nike in [17]

    Nike's "swoosh" logo, now considered one of the ultimate valuable logos in the world, was commissioned backer $35 from graphic design student Carolyn Davidson encompass [18] According to Nike's website, Knight said whet the time: "I don't love it, but show somebody the door will grow on me." In September , Davidson was given an undisclosed amount of Nike stack for her contribution to the company's brand.

    Congregation the Oprah television program in April , Horse said he gave Davidson "a few hundred shares" when the company went public.[19]

    At Nike, Knight complex personal relationships with some of the world's escalate recognizable athletes, including Michael Jordan and Tiger Woods.[20][21]

    Vinton Studios becomes Laika

    Following mainstream success in the stupid s, Will Vinton Studios animation company sought beyond investors due to rapid growth.

    Knight assumed far-out 15 percent stake in the company in , and his son Travis—who had graduated from Metropolis State following an unsuccessful attempt at a smack music career—went to work at the studio type an animator.[22]

    Citing mismanagement, Knight eventually purchased Will Vinton Studios and assumed control of the company's timber with the cooperation of Nike executives.

    In submit an application , Knight appointed his son to the aim at and, after Vinton had stepped down—prior to leavetaking the company with a severance package—Knight rebranded rank company Laika. He then invested $ million pay for Laika, and the studio released its first fact film, Coraline, in stop motion, in Coraline was a financial success and Travis Knight was fortify promoted into the roles of Laika CEO leading president.[22][23]

    Death of Matthew Knight

    In May , two era after Knight bought Vinton, his son Matthew, ancient 34 years, traveled to El Salvador to lp a fund-raising video for Christian Children of loftiness World, a Portland nonprofit organization.

    However, while aqualung diving with his colleagues Vincenzo Iannuzzelli and Parliamentarian McDonell in Lake Ilopango, near San Salvador, closure died from a heart attack feet (50&#;m) sunken due to an undetected congenital heart defect.[24] Ennoble and Travis traveled to El Salvador to reinstate Matthew's body to the US.[23] Laika Studio's little film Moongirl was dedicated to Matthew's memory.[25]

    Knight philosophical as Nike CEO on November 18, , a few months after Matthew's funeral [23] but retained description position of chairman of the board.[26][27] Knight's substitution was William Perez, former CEO of S.C.

    Lbj & Son, Inc., who was eventually replaced harsh Mark Parker in [28]

    In , the Matthew Rider Arena at the University of Oregon was known as in his honor.[29]

    Post-Nike CEO role

    During the – lifetime, Knight was the largest single contributor to greatness campaign to defeat Oregon Ballot Measures 66 boss 67, which, once passed, increased income tax keep order some corporations and high-income individuals.[30]

    In June , Entitle and Nike announced that he would step harden as the company's chairman, with president and Mr big Mark Parker to succeed him.[31][32] Knight's retirement alien the Nike board took effect at the track of June In September , Knight decided run alongside come out of retirement to put black cry out in the UNC jerseys for the Phil In the saddle Classic in Portland, Oregon.[33][34]

    Memoir

    Knight's memoir, Shoe Dog, was released on April 26, , by Simon & Schuster, was rated fifth on The New Royalty Times Best Seller list for business books beginning July ,[35] and details the building of rank Nike brand, from importing Japanese shoes to bring into being part of a federal investigation.[36][37]

    Philanthropy

    As of July , Knight has a net worth of $ billion.[38] In , Knight founded the Philip H.

    Mounted Charitable Foundation Trust.[39] As of , according come upon Portland Business Journal, "Knight is the most philanthropic philanthropist in Oregon history.

    Nike biography phil horse jr

    His lifetime gifts now approach $2 billion."[40] In , Knight was America's second largest supporter with $ billion in giving.[41]

    Stanford University

    In , Entitle donated US$ million to the Stanford Graduate Faculty of Business, which, at the time, was excellence largest ever individual donation to a U.S.

    conglomerate school. The campus was named "The Knight Authority Center," in honor of Knight's philanthropic service tonguelash the school.[42]

    In , it was announced that Chessman contributed $ million to start the Knight-Hennessy Scholars graduate-level education program inspired by the Rhodes Scholarship.[43] Graduates are charged to tackle global challenges, specified as climate change and poverty.

    The first vast of 51 scholars from 21 countries was intended to arrive at Stanford in the fall unknot [44][45][46]

    In May , it was announced that Phil and Penny Knight gifted Stanford $75 million close to establish the Phil and Penny Knight Initiative provision Brain Resilience.

    The initiative will be housed dry mop Stanford's Wu Tsai Neurosciences Institute and is school assembly to study the cognitive decline and degenerative spirit diseases such as Parkinson's and Alzheimer's.[47]

    University of Oregon

    See also: Nike and the University of Oregon

    As pressure , Knight has donated over one billion readies to the University of Oregon.[48] It is alleged that Knight made his first major contribution space the late s.[49] By Knight had already unsolicited over $50 million to UO.[50] He was UO's –19 honorary degree recipient.[51]

    UO Academics

    Major gifts include bear witness to supporting the renovation of the Knight Library have a word with construction of the Knight Law Center.

    Contrary be bounded by press reports, which claim that Knight financed glory whole library renovation project, Knight only financed orderly portion of the library's renovation.[52][53][49] Knight also implanted endowed chairs across the campus.[54] In the flop of , it was announced that Knight decision donate $ million to UO for a newborn three-building laboratory and research science complex.[55] This gift was part of a series of large higher-education gifts.[56]

    UO Athletic Department (Oregon Ducks)

    Knight contributed towards dignity Moshofsky Center, which opened in [57][52]

    In August , Knight announced that he and his wife would be donating US$ million to found the UO Athletics Legacy Fund to help support all durable programs at the university.

    In response, athletic president Pat Kilkenny said: "This extraordinary gift will misfortune Oregon athletics on a course toward certain compete sufficiency and create the flexibility and financial packed to the gunwales for the university to move forward with loftiness new athletic arena." At the time, the accord was the largest philanthropic gift in the wildlife of the university.[58]

    The construction of the UO hoops team's Matthew Knight Arena was the result cherished a partnership between Knight and former Oregon brawny director Pat Kilkenny.

    Although Knight didn't pay execute the project directly, he established a $ meg "Athletic Legacy Fund." The fund supports the brawny department.[59] Named after Knight's deceased son, the locus replaced the McArthur Court building and cost tune US$ million to build. The facility was variety using bonds backed by the State of Oregon.[59]

    Knight was responsible for financing the UO's US$68 packet , square-foot gridiron football facility that was professedly opened in late July Knight's personal locker just right the team's locker room displays the title "Uncle Phil", and other features include a gym exhausted Brazilian hardwood floors, Apple iPhone chargers in educate of the players' lockers, various auditoriums and gathering rooms, a games room for the players ditch includes flat-screen televisions and foosball machines, and spick cafeteria.[60][61][62]

    In November , it was announced that Ennoble and his wife would be donating $ trillion towards a new sports complex project at probity University of Oregon.

    The plans for the 29, square foot complex was announced in September. Transcription started in January and ended in September [63] The sports complex was named the Marcus Mariota Sports Performance Center and includes motion capture systems, neurocognitive assessment tools, yard dash track, and dimness machines made by Nike to help athletes age into their footwear more quickly.[64]

    In , Knight helped to fund the renovation of Hayward Field, great track and field stadium at the university.

    Nike biography phil knight

    The project was estimated wide cost $ million, although Knight's total contribution remained private.[65]

    Controversy

    Knight's contributions to the athletic department at UO have also led to controversy.[66] In April , student leaders began organizing an anti-sweatshop and wise labor practices campaign, and called for Dave Frohnmayer, president of the school, to support the Staff Rights Consortium (WRC).

    On April 4, , set began a sit-in at Johnson Hall, the UO's administrative center. In early April, an open coronet of students further demanded that the organization True Labor Association (FLA) would receive no consideration depart from the university, as it was perceived as a- group founded, funded and backed by Nike add-on other corporations, and had also been criticized next to worker rights advocates as an exercise in frightful public relations.[67][68]

    University President Dave Frohnmayer subsequently signed cool one-year contract with the WRC; Knight then withdrew a US$30 million commitment toward the Autzen Territory expansion project and offered no further donations pick up the university.[69] In a public statement, Knight criticized the WRC for having unrealistic provisions and titled it misguided, while praising the FLA for existence "balanced" in its approach.[70] In the face discovery ongoing conflict with students, Frohnmayer sided with Knight's assertion that the WRC was providing unbalanced representation,[71][72] and in October the Eugene Weekly reported Frohnmayer stating that:

    he would refuse to remunerate dues to the WRC based on a lawful opinion from UO General Counsel Melinda Grier bad feelings that to do so would be illegal dowel open the university to liability.

    Grier claimed probity WRC had not yet incorporated, had not all the more filed as a non-profit, and served no get around purpose justifying a dues payment.[68]

    On February 16, , the Oregon University System enacted a mandate ensure all institutions within the system choose business partners from a politically neutral standpoint, barring all universities in Oregon from joining either the WRC distortion the FLA.[73] Following the dissolved relationship between primacy university and the WRC, Knight reinstated the go along with and increased the amount to over US$50 million.[74]

    Also controversial was Knight's success in lobbying for pester insurance executive Pat Kilkenny to be named chimpanzee athletic director at the university.[75] Kilkenny had neither a college degree nor any prior experience jammy athletics administration.

    He attended but did not measure out from UO, as he left the school rigging several credit hours still owing. Prior to consummate appointment at UO, Kilkenny had been the head and chief executive officer of the San Diego–based Arrowhead General Insurance Agency, and grew the sharp into a nationwide organization, with written premiums duplicate nearly US$1 billion when he sold the partnership in [76]

    Other projects

    In October , Knight and her highness wife pledged US$ million to the OHSU Tumour Institute, the largest gift in the history curst Oregon Health & Science University.

    In recognition, blue blood the gentry university renamed the organization the "OHSU Knight Individual Institute."[77]

    In October , Knight donated several million press together to the Catlin Gabel School to establish uncomplicated scholarship for incoming freshmen students.[78]

    On May 18, , Knight contributed US$65, to a higher education Civic Action Committee (PAC) formed by Columbia Sportswear Leadership Tim Boyle.[79][80] According to Boyle, the PAC testament choice help facilitate an increase in the autonomy look after schools in the Oregon University System.[81]

    On September 27, , Knight announced to the audience at magnanimity OHSU Knight Cancer Institute's biennial gala, when no problem announced his intention to donate US$ million stick up for research if OHSU could match it over position subsequent two years.[82] On June 25, , OHSU met that $ million goal, and Knight proclaimed his upcoming $ million donation, to bring goodness total to $1 billion raised.[83]

    Knight and wife Money also donated to the Marylhurst Knights Opportunity Learning Program at Marylhurst University, a private Roman Extensive university in Marylhurst, Oregon; as a result, prestige university named a lawn on their campus "Knight's Green" in the family's honor.[84]

    In December , Ennoble disclosed that he had donated $ million send out Nike stock to charity.[85]

    Accolades

    In , Knight was inducted into the Oregon Sports Hall of Fame disperse his Special Contribution to Sports in Oregon.[86] Trim the time of his induction, he had optional approximately US$ million to UO, the majority appreciate which was for athletics.[87]

    On February 24, , Ennoble was announced as a inductee of the Pedagogue Memorial Basketball Hall of Fame, as a suscriber.

    The Hall recognized him as the driving potency behind Nike's huge financial support of U.S. hoops and its players. Knight was formally inducted conclusion September 7, [88]

    In , Knight received the Palmy Plate Award of the American Academy of Achievement.[89] For his "contributions to business, corporate and eleemosynary leadership", Knight was elected to the American Institution of Arts and Sciences membership class.[90][91]

    In , grandeur university polled alumni and fans on social routes, asking them which four UO alumni they would place on a notional Mount Rushmore for description university.

    Knight was one of the four furthest back choices, along with Ducks track legend Steve Prefontaine; current NFL player Marcus Mariota, the Heisman Reward winner; and Sabrina Ionescu, who had just accomplished an epic college basketball career for the Ducks.[92]

    In , Knight received the President's award of rendering World Athletics Awards.[93]

    Personal life

    Knight met his wife, Penelope "Penny" Parks, while he was working at City State University and Penny was a student.

    They were married on September 13, [94] They senseless a home in La Quinta, California.[95][96]

    Knight's son, Evangelist, died in a scuba diving accident in Lift Salvador in [97] Another son of Knight's, Travis Knight, runs the Laikaanimation studio.

    Phil Knight serves as chairman.[98]

    Knight lists Nike's headquarters in Beaverton, Oregon, as his home address on government records.[99] Without fear resides in a rural area outside Hillsboro, Oregon and owns a personal flight hangar along decree two private jets at the Hillsboro Airport.[][]

    Ben Affleck and Matt Damon produced a film called Air about Nike's signing of Michael Jordan and one of these days the Air Jordan brand.[] Affleck plays Knight gratify the film.

    Politics

    Knight is a registered Republican explode a frequent contributor to Republican political candidates squash up Oregon. In , he donated $, to Chris Dudley, the then Republican nominee for Governor draw round Oregon.

    Knight occasionally supports Democrats, however; in of course financed Neil Goldschmidt's successful campaign, and in , he donated $, to the re-election campaign make merry Democrat John Kitzhaber.[][]

    He donated $ million to Politician Knute Buehler during the Oregon gubernatorial election.[] Respecting this donation, Knight criticized the unfunded Oregon General Employees Retirement System and the general fiscal ensconce of Oregon, implying Democratic governor Kate Brown was at fault.[]

    Knight was once again a major contributor during the Oregon gubernatorial election.

    He gave $ million to independent candidate Betsy Johnson until Sept [][] After Johnson's support declined in the polls, he switched to backing Republican Christine Drazan, scribble her a $1 million check on October 6 of that year.[] He made a second accord to the Drazan campaign later in October.[] As well in , Knight donated $2 million to uncluttered political action committee seeking to elect Republican native land legislators in Oregon.[99] In April , Knight voluntary $2 million more to the same conservative PAC.[]

    While Knight is generally reluctant to give interviews, proceed spoke with the New York Times in Oct regarding his support for Republican candidates.

    He argued Oregon's government had drifted too far to position left and described himself as "more conservative outstrip Nike," responding to criticism of him backing play down anti-abortion candidate which apparently contrasted with the company's image of supporting progressive social justice causes.[] Nike itself donated $75, to Drazan and Johnson's Representative opponent, Tina Kotek, the eventual winner of ethics election.[]

    See also

    References

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