Phil Hampson Knight is an American entrepreneur and philanthropist born in Oregon. Chairman Emeritus and co-founder of Nike, Inc. Phil Knight fills the position. His net worth is expected to be $45.5 billion as of 2022.
In addition, he is the head of the stop-motion film company Laika. According to Forbes, Knight was the 28th richest person in the world.
Life in the early years
On February 24, 1938, in Portland, Oregon, Philip Hampson Knight was born. Knight is the son of Bill and Lota Knight, a lawyer and newspaper publisher. After graduating from Cleveland High School in Portland, where he grew up,
Every morning, Knight jogged seven miles from the office, where he worked the night shift tabulating sports scores. A graduate of the University of Oregon (UO), brother of the Phi Gamma Delta fraternity in Eugene, he continued his studies there.
What is Phil Knight’s net worth?
|Net value :||$45.5 billion|
|Born:||February 24, 1938|
|Native country:||the United States of America|
While attending the University of Oregon, Knight enlisted in the military, serving one year on the front lines and seven years in the reserves. As soon as he was done serving his country, Knight enrolled in the Standard Graduate School of Business, where he earned a master’s degree in business administration in 1962. After that, he embarked on a graduation trip to Japan, where he discovered Onitsuka Co..’s Tiger brand running shoes in Kobe. Mr. Onitsuka and Mr. Onitsuka arranged a meeting after Mr. Onitsuka was impressed with the quality of the shoes and their affordable price. This is how he was able to secure Western distribution rights for Tiger.
To keep his hands busy while he waited for the first samples of Tiger to arrive in Portland from Coopers and Lybrand and Price Waterhouse, the CPA took a position with Price Waterhouse. In addition, he was a lecturer in accounting at Portland State University (PSU). Bill Bowerman, his former track coach at the University of Oregon, acquired a sample of the Tiger running shoes after finally receiving them. After placing an order, Bowerman also approached Knight to become his business partner. This is how the company that would become Nike, Blue Ribbon Sports (BRS), was formed on January 25, 1964.
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A green Plymouth Valiant, Knight began selling the Tiger shoes at regional track events in the Pacific Northwest from the trunk of his car. By 1969, he had made enough money from these sales to quit his job as an accountant and work full-time for Blue Ribbon Sports. Following a recommendation made by their first employee, Jeff Johnson, the company was nicknamed Nike after the winged Greek goddess of triumph. In 1971, graphic design student Carolyn Davidson was paid $35 for her work on Nike’s distinctive “swoosh” emblem. I
he following days, he received an undisclosed number of Nike shares. Knight grew Nike from a fledgling shoe company into one of the most recognizable and successful companies in the world over the next four decades. He resigned as CEO of Nike in November 2004, but remained on the board as chairman. After announcing in June 2015 that he would step down as chairman of Nike, Knight left the board at the end of June 2016.
Along with Nike, Knight was instrumental in the success of Laika, an animated film production company he founded. In the late 1990s, Will Vinton Studios, an animation company, was looking for outside investors due to its rapid expansion. In 1998 Knight bought a 15% share in the company and hired his son Travis to work as an animator for the studio. Ultimately, Knight bought Will Vinton Studios and renamed it Laika in 2003. “Coraline”, a stop-motion animated feature, was Laika’s feature debut (2009). As of now, Travis Knight is the CEO and President of Laika.
Philanthropy and non-profit work
Simon & Schuster released “Shoe Dog,” Knight’s autobiography, in April 2016. A $500 million gift to the University of Oregon Health & Science Cancer Center; $400 million to Stanford University to launch the Rhodes Scholarship-inspired Knight-Hennessy Scholars graduate program; and $105 million to the Standford Graduate School of Business are just a few examples of Knight’s philanthropy.
Phil Knight married Penelope Penny Parks in 1963 and the couple produced three children, Matthew, Travis and Christina, who are now adults. While working at Portland State University, he and the woman he is now married to first met. Matthew unexpectedly lost an undiagnosed congenital heart condition while scuba diving in El Salvador in 2004.
Penelope, Phil’s wife, moved to Beaverton, Oregon where they now reside. The University of Oregon Athletic Fund has repeatedly recognized Phil and Penny for their contributions and long-term support. Their son’s name is even mentioned in the library and law school. The Matthew Knight Arena has been named in his honor since 2011. Phil Knight was inducted into the Oregon Sports Hall of Fame for his many accomplishments in sports.
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Amount you have to pay
Nike, the world’s largest manufacturer of sports shoes and equipment, is 24% controlled by Phil Knight. A Delaware-based holding company called “Swoosh” owns its Class A and Class B shares.
His son Travis owns a 10% stake in the company, but it is still attributed to Phil Knight. Converse and Jordan are also owned by Nike.
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