Phil Knight Net Worth

May 2024 · 5 minute read

Table of Contents

Table: Phil Knight Net Worth

CategoryInformation
Net Worth$43 billion
SalaryN/A
BirthdateFebruary 24, 1938
BirthplacePortland, Oregon
GenderMale
HeightN/A
ProfessionAmerican businessman, sports fan, philanthropist
NationalityAmerican

What is Phil Knight’s Net Worth?

Phil Knight, an American businessman, sports fan, and philanthropist, has an estimated net worth of $43 billion. He earned his wealth as the founder and largest individual shareholder of Nike Inc. Through various trusts, Phil Knight and his family members own approximately 300 million shares of Nike. The majority of their holdings are controlled by a family trust named Swoosh. Phil personally retains ownership of 32 million shares, and his son Travis Knight owns 41 million shares directly.

Highlights

Early Life

Phil Knight, born on February 24, 1938, in Portland, Oregon, is the son of Lota Knight (née Hatfield) and Bill Knight. His father was a lawyer and later became a newspaper publisher. Phil grew up in the Eastmoreland neighborhood of Portland and attended Cleveland High School. He pursued his higher education at the University of Oregon, where he was a member of the Phi Gamma Delta fraternity, worked as a sports reporter for the Oregon Daily Emerald, and participated in track and field as a middle-distance runner. In 1959, he graduated with a degree in journalism.

Career

After completing his studies at the University of Oregon, Phil Knight joined the United States Army for one year of active duty, followed by seven years in the Army Reserve. Following his military service, he enrolled in the Stanford Graduate School of Business, graduating in 1962 with a master’s degree in business administration.

During a graduation trip to Japan, Knight discovered Tiger brand running shoes manufactured by Onitsuka Co. in Kobe. Impressed by their quality and low cost, he secured the distribution rights for Tiger in the western United States. While waiting for the first shipment of Tiger shoes, Knight worked as a Certified Public Accountant and taught as an accounting professor at Portland State University.

Once he received the Tiger running shoes, he sent samples to his former track coach, Bill Bowerman, who placed an order and proposed a business partnership. Thus, on January 25, 1964, Blue Ribbon Sports (BRS) was founded, which later evolved into Nike. Knight initially sold the Tiger shoes out of his car at track meets in the Pacific Northwest. By 1969, he was making enough money from the sales to quit his accounting job and work for Blue Ribbon Sports full-time.

The company was later renamed Nike, and Knight’s marketing initiatives, such as the introduction of the iconic “swoosh” logo and athlete endorsements, played a significant role in establishing the brand. Under his leadership, Nike became a global leader in the sportswear market, expanding into various sports and regions. Knight stepped down as CEO in 2004 but remained actively involved as chairman until 2016.

Aside from Nike, Knight also had involvement in the success of the animation studio Laika. He purchased a stake in Will Vinton Studios, which eventually became Laika, and his son Travis became CEO and president of the company.

Personal Life

Phil Knight married Penelope “Penny” Parks in 1963. They have three grown children: Matthew, Travis, and Christina. Sadly, Matthew passed away while scuba diving in El Salvador in 2004 due to an undetected congenital heart defect. Phil and Penny currently reside in Beaverton, Oregon.

Phil Knight has been a longtime supporter of the University of Oregon, contributing significant donations to the school’s athletic fund and other initiatives. The library was named in honor of his mother, and the law school carries his father’s name. The Matthew Knight Arena was also named after his late son in 2011. Knight has a strong presence in the philanthropic world and has donated over $1 billion to various causes, including education and healthcare.

Net Worth Over Time

Phil Knight’s net worth has fluctuated over time, largely influenced by the performance of Nike’s stock. As the largest individual shareholder of the company, his net worth is closely tied to its success. With Nike becoming a global powerhouse in the sports industry, Knight’s net worth has experienced significant growth.

While his exact net worth trajectory may vary due to market conditions, investment decisions, and other factors, Knight’s established position as a major shareholder in Nike provides a solid foundation for his substantial wealth.

Components of Net Worth

The primary component of Phil Knight’s net worth is his ownership stake in Nike Inc. Through trusts and direct ownership, Knight and his family members collectively hold around 300 million shares of Nike, with a majority controlled by the Swoosh family trust. Knight himself retains ownership of 32 million shares, while his son Travis owns 41 million shares directly.

In addition to his Nike holdings, Knight’s net worth may include various other investments, real estate, and assets acquired throughout his career. However, the details of these additional components are not publicly disclosed.

Note: All numbers mentioned in this article are estimates based on publicly available information.

ncG1vNJzZmimkaLAsHnGnqVnm59kr627xminoaGcYrivtcahq2amlal6uLvRrZ9o