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Phil Knight, Nike founder and emeritus chairman, last week donated almost $1 billion worth of Nike stock to a charitable organization. The entity hasn’t been immediately disclosed, yet Knight and his wife Penelope are listed as directors of the company in a regulatory filing.
The $1 billion charitable contribution equates to 12 million shares of Nike stock. Knight’s $32 billion fortune is hardly moved by his latest philanthropic effort. It represents roughly 3.1% of his massive net worth.
Knight, of course, is no stranger to giving generously to charities and the like. In 2014, the Oregon alum and his wife donated $1 billion to his alma mater. They have also given hundreds of millions to Stanford University.
A New York Times best-selling author, Knight’s memoir, Shoe Dog, was recently picked up by Netflix to be adapted into a film. In addition, Knight’s NCAA tournament, the PK-80, which launched in 2017 in honor of his 80th birthday, enters into its second installment with the start of the upcoming college basketball season.
Source: Bloomberg
