Nike founder donates $ 1 billion worth of charitable organization – The Economic Journal

Nike founder donates $ 1 billion worth of charitable organization - The Economic Journal


It is the latest philanthropy initiative of Phil Knight, an 80-year-old founder and president emeritus of Nike, a North American sports equipment company. This week, Knight donated 12 million Nike shares to a charity (unidentified) that is run by himself and his wife, according to Bloomberg news. The shares delivered have a total value of about one billion dollars.

In recent years, the couple had donated hundreds of millions of dollars to universities in Oregon and Stanford. This time they donate a far higher amount to a charity. The donated shares represent about 0.7% of Nike's share capital and 3.1% of Knight's personal fortunes, according to Bloomberg's "Billionaires Index," a ranking of the world's 500 richest people.



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