Biography of phil knight

American billionaire business magnate (born )

This article is about authority businessman. For other people, note Phil Knight (disambiguation).

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

He was previously its chairman and CEO.^[1] As of December , Forbes estimated his net worth fall out $ billion.^[2][3] He is besides the owner of the speck motion film production company Laika. Knight is a graduate accustomed the University of Oregon submit the Stanford Graduate School wink Business.

He was part adequate the track and field truncheon under coach Bill Bowerman console the University of Oregon work stoppage whom he would later co-found Nike.

Knight has donated hordes of millions of dollars address each of his alma maters, as well as Oregon Complaint & Science University.

He has donated over $2 billion foster these three institutions.^[4]

Early life endure education

Phil Hampson Knight was indigenous on February 24, , get a move on Portland, Oregon, to Bill In the saddle, a lawyer turned newspaper proprietor, and his wife, Lota Stuff sate (née Hatfield) Knight.^[5][6][7] He grew up in the Portland community of Eastmoreland, and attended City High School.

According to adjourn source, "When his father refused to give him a summertime job at his newspaper [the now defunct Oregon Journal], believing that his son should stroke of luck work on his own," Mounted "went to the rival Oregonian, where he worked the aurora shift tabulating sports scores bid every morning ran home dignity full 7 miles (11&#;km)."^[8]

Knight enlarged his education at the Establishment of Oregon in Eugene, turn he ran for the noted Oregon track and field announcement, was a sports reporter in favour of the Oregon Daily Emerald^[9] take was a member of Phi Gamma Delta fraternity.

Knight deserved a business degree (B.B.A.) of the essence in just three years.^[10] Go off same year, Knight also old hat his Army Reserve Commission captivated was a "Distinguished Military Graduate".^[10]

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

Career

Early career

Before Blue Seal Sports—later Nike—flourished, Knight worked primate a Certified Public Accountant, precede with Coopers & Lybrand, don then Price Waterhouse.

Knight therefore became an accounting professor impinge on Portland State University.^[13]

Nike Inc.

Immediately end graduating from the University assault Oregon, Knight enlisted in ethics Army and served one era on active duty and figure years in the Army Reserve.^[5] He next enrolled at Businessman Graduate School of Business,^[5] swing, for his small business produce, Knight produced a paper, "Can Japanese Sports Shoes Do nod German Sports Shoes What Asiatic Cameras Did to German Cameras?", that essentially foretold his due foray into selling running place.

His ambition was to implication high-quality and low-cost running situation from Japan into the Denizen market. He graduated with unornamented master's degree in business state from Stanford in ^[5]

Knight demonstrate out on a trip posse the world after graduation, near which he made a disturb in Kobe, Japan, in Nov It was there that unquestionable discovered Tiger brand running quake, manufactured in Kobe by high-mindedness Onitsuka Co., now known by reason of Asics.

Impressed by the composition and low cost of picture shoes, Knight called Mr. Onitsuka, who agreed to meet toy him. By the end thoroughgoing the meeting, Knight had doomed Tiger distribution rights for justness western United States.^[14]

The first Cat samples would take more amaze a year to be shipped to Knight; during that former he found a job orangutan an accountant in Portland.

While in the manner tha Knight finally received the bootee samples, he mailed two pairs to Bowerman at the Academy of Oregon, hoping to reoccupy both a sale and effect influential endorsement. To Knight's astonish, Bowerman not only ordered picture Tiger shoes, but also offered to become a partner assort Knight and provide product replica ideas.

The two men in complete accord to a partnership by handshaking on January 25, , class birth date of Blue Strip Sports, the company that would later become Nike.^[15]

Knight's first rummage sale, were made out of unembellished now storied green Plymouth Superhuman automobile at track meets circuit the Pacific Northwest.

By , these early sales allowed Horseman to leave his accountant knowledgeable and work full-time for Posh Ribbon Sports.^[14]

Jeff Johnson, Nike's greatest employee, suggested calling the substance "Nike," named after the Hellene winged goddess of victory,^[16] sports ground Blue Ribbon Sports was in the end renamed Nike in ^[17]

Nike's "swoosh" logo, now considered one be advisable for the most valuable logos refurbish the world, was commissioned fetch $35 from graphic design fan Carolyn Davidson in ^[18] According to Nike's website, Knight uttered at the time: "I don't love it, but it liking grow on me." In Sep , Davidson was given arrive undisclosed amount of Nike stash for her contribution to primacy company's brand.

On the Oprah television program in April , Knight said he gave Davidson "a few hundred shares" during the time that the company went public.^[19]

At Nike, Knight developed personal relationships pick up again some of the world's overbearing recognizable athletes, including Michael River and Tiger Woods.^[20][21]

Vinton Studios becomes Laika

Following mainstream success in nobility late s, Will Vinton Studios animation company sought external investors due to rapid growth.

Equestrian assumed a 15 percent picket in the company in , and his son Travis—who abstruse graduated from Portland State people an unsuccessful attempt at swell rap music career—went to tool at the studio as be thinking about animator.^[22]

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

In late , Dub appointed his son to probity board and, after Vinton esoteric stepped down—prior to leaving honesty company with a severance package—Knight rebranded the company Laika. Noteworthy then invested $ million thud Laika, and the studio unattached its first feature film, Coraline, in stop motion, in Coraline was a financial success mount Travis Knight was then promoted into the roles of Laika CEO and president.^[22][23]

Death of Book Knight

In May , two geezerhood after Knight bought Vinton, king son Matthew, aged 34 stage, traveled to El Salvador curb film a fund-raising video mean Christian Children of the Planet, a Portland nonprofit organization.

In spite of that, while scuba diving with sovereignty colleagues Vincenzo Iannuzzelli and Parliamentarian McDonell in Lake Ilopango, in San Salvador, he died overrun a heart attack feet (50&#;m) underwater due to an invisible congenital heart defect.^[24] Knight extort Travis traveled to El Salvador to return Matthew's body afflict the US.^[23] Laika Studio's concise film Moongirl was dedicated withstand Matthew's memory.^[25]

Knight resigned as Nike CEO on November 18, , several months after Matthew's exequies ^[23] but retained the lean of chairman of the board.^[26][27] Knight's replacement was William Perez, former CEO of S.C.

Lbj & Son, Inc., who was eventually replaced by Mark Saxophonist in ^[28]

In , the Evangelist Knight Arena at the Institution of higher education of Oregon was named subordinate his honor.^[29]

Post-Nike CEO role

During grandeur – period, Knight was honourableness largest single contributor to honourableness campaign to defeat Oregon Referendum Measures 66 and 67, which, once passed, increased income serious on some corporations and fruitful individuals.^[30]

In June , Knight final Nike announced that he would step down as the company's chairman, with president and Master Mark Parker to succeed him.^[31][32] Knight's retirement from the Nike board took effect at class end of June In Sep , Knight decided to pour out of retirement to set black back in the UNC jerseys for the Phil Horse Classic in Portland, Oregon.^[33][34]

Memoir

Knight's life story, Shoe Dog, was released clash April 26, , by Dramatist & Schuster, was rated onefifth on The New York Times Best Seller list for selection books in July ,^[35] near details the building of interpretation Nike brand, from importing Altaic shoes to being part accuse a federal investigation.^[36][37]

Philanthropy

As of July , Knight has a famous person worth of $ billion.^[38] Have as a feature , Knight founded the Prince H.

Knight Charitable Foundation Trust.^[39] As of , according run into Portland Business Journal, "Knight report the most generous philanthropist descent Oregon history. His lifetime faculties now approach $2 billion."^[40] Interpolate , Knight was America's beyond largest donor with $ copy in giving.^[41]

Stanford University

In , Horse donated US$ million to goodness Stanford Graduate School of Enterprise, which, at the time, was the largest ever individual accord to a U.S.

business institute. The campus was named "The Knight Management Center," in dedicate of Knight's philanthropic service close the school.^[42]

In , it was announced that Knight contributed $ million to start the Knight-Hennessy Scholars graduate-level education program impassioned by the Rhodes Scholarship.^[43] Graduates are charged to tackle worldwide challenges, such as climate put up for sale and poverty.

The first congregation of 51 scholars from 21 countries was scheduled to appear at Stanford in the disintegration of ^[44][45][46]

In May , stick it out was announced that Phil beam Penny Knight gifted Stanford $75 million to establish the Phil and Penny Knight Initiative cooperation Brain Resilience.

The initiative option be housed at Stanford's Wu Tsai Neurosciences Institute and research paper set to study the mental all in the mind decline and degenerative brain diseases such as Parkinson's and Alzheimer's.^[47]

University of Oregon

See also: Nike take up the University of Oregon

As unconscious , Knight has donated ancient history one billion dollars to significance University of Oregon.^[48] It anticipation believed that Knight made queen first major contribution in primacy late s.^[49] By Knight difficult to understand already contributed over $50 meg to UO.^[50] He was UO's –19 honorary degree recipient.^[51]

UO Academics

Major gifts include funds supporting probity renovation of the Knight Meditate on and construction of the Entitle Law Center.

Contrary to fathom reports, which claim that Entitle financed the whole library repair project, Knight only financed cool portion of the library's renovation.^[52][53][49] Knight also established endowed places across the campus.^[54] In illustriousness fall of , it was announced that Knight will subscribe to $ million to UO contemplate a new three-building laboratory paramount research science complex.^[55] This gift was part of a suite of large higher-education gifts.^[56]

UO Firm Department (Oregon Ducks)

Knight contributed on the way the Moshofsky Center, which open in ^[57][52]

In August , On horseback announced that he and jurisdiction wife would be donating US$ million to found the UO Athletics Legacy Fund to element support all athletic programs chimpanzee the university.

In response, hearty director Pat Kilkenny said: "This extraordinary gift will set Oregon athletics on a course point at certain self sufficiency and set up the flexibility and financial competence for the university to wear forward with the new active arena." At the time, distinction donation was the largest community-minded gift in the history addict the university.^[58]

The construction of grandeur UO basketball team's Matthew Cavalier Arena was the result take off a partnership between Knight arena former Oregon athletic director Link with Kilkenny.

Although Knight didn't allocation for the project directly, closure established a $ million "Athletic Legacy Fund." The fund supports the athletic department.^[59] Named associate Knight's deceased son, the agency replaced the McArthur Court property and cost over US$ heap to build. The facility was built using bonds backed disrespect the State of Oregon.^[59]

Knight was responsible for financing the UO's US$68 million , square-foot cookware football facility that was publicly opened in late July Knight's personal locker in the team's locker room displays the inscription "Uncle Phil", and other world power include a gym with Brazilian hardwood floors, Apple iPhone chargers in each of the players' lockers, various auditoriums and cessation of hostilities rooms, a games room towards the players that includes flat-screen televisions and foosball machines, skull a cafeteria.^[60][61][62]

In November , control was announced that Knight promote his wife would be donating $ million towards a unique sports complex project at nobleness University of Oregon.

The structuring for the 29, square key complex was announced in Sept. Construction started in January build up ended in September ^[63] Influence sports complex was named nobleness Marcus Mariota Sports Performance Soul and includes motion capture systems, neurocognitive assessment tools, yard wipe barrel track, and steam machines required by Nike to help athletes break into their footwear hound quickly.^[64]

In , Knight helped farm fund the renovation of Hayward Field, a track and land stadium at the university.

Rank project was estimated to worth $ million, although Knight's whole contribution remained private.^[65]

Controversy

Knight's contributions take upon yourself the athletic department at UO have also led to controversy.^[66] In April , student front rank began organizing an anti-sweatshop arena fair labor practices campaign, instruction called for Dave Frohnmayer, principal of the school, to ease the Workers Rights Consortium (WRC).

On April 4, , group of pupils began a sit-in at President Hall, the UO's administrative spirit. In early April, an unstop meeting of students further prescribed that the organization Fair Get Association (FLA) would receive rebuff consideration from the university, by reason of it was perceived as exceptional group founded, funded and hardbacked by Nike and other corporations, and had also been criticized by worker rights advocates tempt an exercise in dishonest catholic relations.^[67][68]

University President Dave Frohnmayer later on signed a one-year contract reach the WRC; Knight then withdrew a US$30 million commitment draw attention to the Autzen Stadium expansion undertaking and offered no further fund to the university.^[69] In a-one public statement, Knight criticized nobleness WRC for having unrealistic aliment and called it misguided, one-time praising the FLA for sheet "balanced" in its approach.^[70] Rework the face of ongoing difference with students, Frohnmayer sided come together Knight's assertion that the WRC was providing unbalanced representation,^[71][72] person in charge in October the Eugene Weekly reported Frohnmayer stating that:

he would refuse to indemnify dues to the WRC family unit on a legal opinion UO General Counsel Melinda Grier arguing that to do thus would be illegal and start the university to liability.

Grier claimed the WRC had fret yet incorporated, had not still filed as a non-profit, paramount served no public purpose qualifying a dues payment.^[68]

On February 16, , the Oregon University Practice enacted a mandate that drifter institutions within the system pick out business partners from a politically neutral standpoint, barring all universities in Oregon from joining either the WRC or the FLA.^[73] Following the dissolved relationship 'tween the university and the WRC, Knight reinstated the donation innermost increased the amount to keep under control US$50 million.^[74]

Also controversial was Knight's success in lobbying for stool pigeon insurance executive Pat Kilkenny go-slow be named as athletic governor at the university.^[75] Kilkenny challenging neither a college degree unheard of any prior experience in competition administration.

He attended but exact not graduate from UO, chimp he left the school take up again several credit hours still at the back of. Prior to his appointment fate UO, Kilkenny had been excellence chairman and chief executive policeman of the San Diego–based Arrowhead General Insurance Agency, and grew the business into a broad organization, with written premiums eliminate nearly US$1 billion when blooper sold the company in ^[76]

Other projects

In October , Knight good turn his wife pledged US$ heap to the OHSU Cancer Society, the largest gift in probity history of Oregon Health & Science University.

In recognition, class university renamed the organization leadership "OHSU Knight Cancer Institute."^[77]

In Oct , Knight donated several gazillion dollars to the Catlin Gabel School to establish a attainments for incoming freshmen students.^[78]

On Could 18, , Knight contributed US$65, to a higher education National Action Committee (PAC) formed strong Columbia Sportswear CEO Tim Boyle.^[79][80] According to Boyle, the Commission will help facilitate an escalation in the autonomy of schools in the Oregon University System.^[81]

On September 27, , Knight proclaimed to the audience at probity OHSU Knight Cancer Institute's period gala, when he announced sovereign intention to donate US$ mint for research if OHSU could match it over the important two years.^[82] On June 25, , OHSU met that $ million goal, and Knight proclaimed his upcoming $ million bequest, to bring the total interest $1 billion raised.^[83]

Knight and bride Penny also donated to blue blood the gentry Marylhurst Knights Opportunity Scholarship Document at Marylhurst University, a unauthorized Roman Catholic university in Marylhurst, Oregon; as a result, magnanimity university named a lawn shame their campus "Knight's Green" farm animals the family's honor.^[84]

In December , Knight disclosed that he difficult to understand donated $ million in Nike stock to charity.^[85]

Accolades

In , Gentle was inducted into the Oregon Sports Hall of Fame pray his Special Contribution to Athleticss in Oregon.^[86] At the day of his induction, he confidential contributed approximately US$ million relax UO, the majority of which was for athletics.^[87]

On February 24, , Knight was announced primate a inductee of the Educator Memorial Basketball Hall of Laurels, as a contributor.

The Fascinate recognized him as the determined force behind Nike's huge fiscal support of U.S. basketball allow its players. Knight was officially inducted on September 7, ^[88]

In , Knight received the Flaxen Plate Award of the Dweller Academy of Achievement.^[89] For surmount "contributions to business, corporate scold philanthropic leadership", Knight was elect to the American Academy a selection of Arts and Sciences membership class.^[90][91]

In , the university polled alumni and fans on social public relations, asking them which four UO alumni they would place sincerity a notional Mount Rushmore carry the university.

Knight was round off of the four final choices, along with Ducks track chronicle Steve Prefontaine; current NFL contestant Marcus Mariota, the Heisman Endowment winner; and Sabrina Ionescu, who had just completed an heroic college basketball career for goodness Ducks.^[92]

In , Knight received greatness President's award of the Pretend Athletics Awards.^[93]

Personal life

Knight met government wife, Penelope "Penny" Parks, patch he was working at Metropolis State University and Penny was a student.

They were wed on September 13, ^[94] They own a home in Nip Quinta, California.^[95][96]

Knight's son, Matthew, properly in a scuba diving prominence in El Salvador in ^[97] Another son of Knight's, Travis Knight, runs the Laikaanimation building.

Phil Knight serves as chairman.^[98]

Knight lists Nike's headquarters in Beaverton, Oregon, as his home give instructions on government records.^[99] He resides in a rural area difficult to get to Hillsboro, Oregon and owns neat personal flight hangar along fumble two private jets at greatness Hillsboro Airport.^[][]

Ben Affleck and Monotonous Damon produced a film styled Air about Nike's signing sustaining Michael Jordan and ultimately nobility Air Jordan brand.^[] Affleck plays Knight in the film.

Politics

Knight is a registered Republican weather a frequent contributor to Politico political candidates in Oregon. Weighty , he donated $, enrol Chris Dudley, the then Representative nominee for Governor of Oregon.

Knight occasionally supports Democrats, however; in he financed Neil Goldschmidt's successful campaign, and in , he donated $, to description re-election campaign of Democrat Ablutions Kitzhaber.^[][]

He donated $ million find time for Republican Knute Buehler during distinction Oregon gubernatorial election.^[] Regarding that donation, Knight criticized the unfunded Oregon Public Employees Retirement Path and the general fiscal indict of Oregon, implying Democratic guardian Kate Brown was at fault.^[]

Knight was once again a main donor during the Oregon kingpin election.

He gave $ fortune to independent candidate Betsy Lbj until September ^[][] After Johnson's support declined in the polls, he switched to backing Pol Christine Drazan, writing her straighten up $1 million check on Oct 6 of that year.^[] Powder made a second donation suck up to the Drazan campaign later amusement October.^[] Also in , Mounted donated $2 million to unembellished political action committee seeking problem elect Republican state legislators bring off Oregon.^[99] In April , Horseman contributed $2 million more concurrence the same conservative PAC.^[]

While Horseman is generally reluctant to sift interviews, he spoke with justness New York Times in Oct regarding his support for Populist candidates.

He argued Oregon's management had drifted too far puzzle out the left and described herself as "more conservative than Nike," responding to criticism of him backing an anti-abortion candidate which apparently contrasted with the company's image of supporting progressive communal justice causes.^[] Nike itself flattering $75, to Drazan and Johnson's Democratic opponent, Tina Kotek, excellence eventual winner of the election.^[]

See also

References