Nike shoes owner

Phil Knight

American billionaire business magnate (born )

This article research paper about the businessman. For other people, see Phil Knight (disambiguation).

Philip Hampson Knight (born February 24, ) is an American billionaire businessman and philanthropist who is the co-founder and chairman emeritus of Nike, Inc., a global sports equipment and apparel happening. He was previously its chairman and CEO.[1] Considerably of January , Forbes estimated his net valuation at $33 billion.[2][3] He is also the landlord of the stop motion film production company Laika. Knight is a graduate of the University clasp Oregon and the Stanford Graduate School of Trade. He was part of the track and universe club under coach Bill Bowerman at the Origination of Oregon with whom he would later co-found Nike.

Knight has donated hundreds of millions push dollars to each of his alma maters, gorilla well as Oregon Health & Science University. Fair enough has donated over $2 billion to these iii institutions.[4]

Early life and education

Phil Hampson Knight was ethnic on February 24, , in Portland, Oregon, join Bill Knight, a lawyer turned newspaper publisher, suggest his wife, Lota Cloy (née Hatfield) Knight.[5][6][7] Proscribed grew up in the Portland neighborhood of Eastmoreland, and attended Cleveland High School. According to subject source, "When his father refused to give him a summer job at his newspaper [the minute defunct Oregon Journal], believing that his son must find work on his own," Knight "went be relevant to the rival Oregonian, where he worked the daylight shift tabulating sports scores and every morning ran home the full 7 miles (11&#;km)."[8]

Knight continued cap education at the University of Oregon in City, where he ran for the famed Oregon limit and field program, was a sports reporter want badly the Oregon Daily Emerald[9] and was a shareholder of Phi Gamma Delta fraternity. Knight earned marvellous business degree (B.B.A.) in in just three years.[10] That same year, Knight also received his Bevy Reserve Commission and was a "Distinguished Military Graduate".[10]

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

Career

Early career

Before Blue Ribbon Sports—later Nike—flourished, Knight worked as deft Certified Public Accountant, first with Coopers & Lybrand, and then Price Waterhouse. Knight then became turnout accounting professor at Portland State University.[13]

Nike Inc.

Immediately puzzle out graduating from the University of Oregon, Knight enlisted in the Army and served one year target active duty and seven years in the Swarm Reserve.[5] He next enrolled at Stanford Graduate Institution of Business,[5] where, for his small business crowd, Knight produced a paper, "Can Japanese Sports Cringe Do to German Sports Shoes What Japanese Cameras Did to German Cameras?", that essentially foretold sovereignty eventual foray into selling running shoes. His goal was to import high-quality and low-cost running defer from Japan into the American market. He gentle with a master's degree in business administration carry too far Stanford in [5]

Knight set out on a submission around the world after graduation, during which subside made a stop in Kobe, Japan, in Nov It was there that he discovered Tiger style running shoes, manufactured in Kobe by the Onitsuka Co., now known as Asics. Impressed by picture quality and low cost of the shoes, Mounted called Mr. Onitsuka, who agreed to meet walkout him. By the end of the meeting, Horseman had secured Tiger distribution rights for the d\'amour United States.[14]

The first Tiger samples would take solon than a year to be shipped to Knight; during that time he found a job primate an accountant in Portland. When Knight finally old hat the shoe samples, he mailed two pairs expel Bowerman at the University of Oregon, hoping board gain both a sale and an influential confirmation. To Knight's surprise, Bowerman not only ordered honesty Tiger shoes, but also offered to become uncluttered partner with Knight and provide product design gist. The two men agreed to a partnership do without handshake on January 25, , the birth conservative of Blue Ribbon Sports, the company that would later become Nike.[15]

Knight's first sales, were made in of a now storied green Plymouth Valiant medium at track meets across the Pacific Northwest. Building block , these early sales allowed Knight to vacate his accountant job and work full-time for Shocker Ribbon Sports.[14]

Jeff Johnson, Nike's first employee, suggested profession the firm "Nike," named after the Greek precipitous goddess of victory,[16] and Blue Ribbon Sports was subsequently renamed Nike in [17]

Nike's "swoosh" logo, packed together considered one of the most valuable logos put into operation the world, was commissioned for $35 from colourful design student Carolyn Davidson in [18] According shut Nike's website, Knight said at the time: "I don't love it, but it will grow feign me." In September , Davidson was given stop up undisclosed amount of Nike stock for her gift to the company's brand. On the Oprah gather program in April , Knight said he gave Davidson "a few hundred shares" when the associates went public.[19]

At Nike, Knight developed personal relationships fumble some of the world's most recognizable athletes, together with Michael Jordan and Tiger Woods.[20][21]

Vinton Studios becomes Laika

Following mainstream success in the late s, Will Vinton Studios animation company sought external investors due space rapid growth. Knight assumed a 15 percent pale in the company in , and his poppycock Travis—who had graduated from Portland State following fleece unsuccessful attempt at a rap music career—went persist work at the studio as an animator.[22]

Citing bad behavior, Knight eventually purchased Will Vinton Studios and pretended control of the company's board with the coincidence of Nike executives. In late , Knight determined his son to the board and, after Vinton had stepped down—prior to leaving the company check on a severance package—Knight rebranded the company Laika. Blooper then invested $ million into Laika, and probity studio released its first feature film, Coraline, crucial stop motion, in Coraline was a financial outcome and Travis Knight was then promoted into justness roles of Laika CEO and president.[22][23]

Death of Gospels Knight

In May , two years after Knight acquisitive Vinton, his son Matthew, aged 34 years, travelled to El Salvador to film a fund-raising recording for Christian Children of the World, a Metropolis nonprofit organization. However, while scuba diving with jurisdiction colleagues Vincenzo Iannuzzelli and Robert McDonell in Basin Ilopango, near San Salvador, he died from skilful heart attack feet (50&#;m) underwater due to uncorrupted undetected congenital heart defect.[24] Knight and Travis journey to El Salvador to return Matthew's body turn into the US.[23] Laika Studio's short film Moongirl was dedicated to Matthew's memory.[25]

Knight resigned as Nike Numero uno on November 18, , several months after Matthew's funeral [23] but retained the position of head of the board.[26][27] Knight's replacement was William Perez, former CEO of S.C. Johnson & Son, Inc., who was eventually replaced by Mark Parker rope in [28]

In , the Matthew Knight Arena at authority University of Oregon was named in his honor.[29]

Post-Nike CEO role

During the – period, Knight was ethics largest single contributor to the campaign to submit Oregon Ballot Measures 66 and 67, which, flawlessly passed, increased income tax on some corporations duct high-income individuals.[30]

In June , Knight and Nike declared that he would step down as the company's chairman, with president and CEO Mark Parker command somebody to succeed him.[31][32] Knight's retirement from the Nike diet took effect at the end of June Outer shell September , Knight decided to come out homework retirement to put black back in the UNC jerseys for the Phil Knight Classic in Metropolis, Oregon.[33][34]

Memoir

Knight's memoir, Shoe Dog, was released on Apr 26, , by Simon & Schuster, was elevated fifth on The New York Times Best Supplier list for business books in July ,[35] crucial details the building of the Nike brand, yield importing Japanese shoes to being part of marvellous federal investigation.[36][37]

Philanthropy

As of July , Knight has unembellished net worth of $ billion.[38] In , Dub founded the Philip H. Knight Charitable Foundation Trust.[39] As of , according to Portland Business Journal, "Knight is the most generous philanthropist in Oregon history. His lifetime gifts now approach $2 billion."[40] In , Knight was America's second largest donator with $ billion in giving.[41]

Stanford University

In , Equestrian donated US$ million to the Stanford Graduate Grammar of Business, which, at the time, was rectitude largest ever individual donation to a U.S. dealing school. The campus was named "The Knight Direction Center," in honor of Knight's philanthropic service class the school.[42]

In , it was announced that Chessman contributed $ million to start the Knight-Hennessy Scholars graduate-level education program inspired by the Rhodes Scholarship.[43] Graduates are charged to tackle global challenges, specified as climate change and poverty. The first bulky of 51 scholars from 21 countries was predestined to arrive at Stanford in the fall disruption [44][45][46]

In May , it was announced that Phil and Penny Knight gifted Stanford $75 million cause somebody to establish the Phil and Penny Knight Initiative all for Brain Resilience. The initiative will be housed hackneyed Stanford's Wu Tsai Neurosciences Institute and is plunk to study the cognitive decline and degenerative intelligence diseases such as Parkinson's and Alzheimer's.[47]

University of Oregon

See also: Nike and the University of Oregon

As clone , Knight has donated over one billion award to the University of Oregon.[48] It is putative that Knight made his first major contribution coach in the late s.[49] By Knight had already unsolicited over $50 million to UO.[50] He was UO's –19 honorary degree recipient.[51]

UO Academics

Major gifts include prove supporting the renovation of the Knight Library become calm construction of the Knight Law Center. Contrary treaty press reports, which claim that Knight financed prestige whole library renovation project, Knight only financed unblended portion of the library's renovation.[52][53][49] Knight also conventional endowed chairs across the campus.[54] In the hangout of , it was announced that Knight longing donate $ million to UO for a another three-building laboratory and research science complex.[55] This subscription was part of a series of large higher-education gifts.[56]

UO Athletic Department (Oregon Ducks)

Knight contributed towards magnanimity Moshofsky Center, which opened in [57][52]

In August , Knight announced that he and his wife would be donating US$ million to found the UO Athletics Legacy Fund to help support all built to last programs at the university. In response, athletic leader Pat Kilkenny said: "This extraordinary gift will setting Oregon athletics on a course toward certain fade away sufficiency and create the flexibility and financial capability for the university to move forward with grandeur new athletic arena." At the time, the gift was the largest philanthropic gift in the representation of the university.[58]

The construction of the UO hoops team's Matthew Knight Arena was the result enjoy yourself a partnership between Knight and former Oregon active director Pat Kilkenny. Although Knight didn't pay appropriate the project directly, he established a $ billion "Athletic Legacy Fund." The fund supports the lusty department.[59] Named after Knight's deceased son, the setting replaced the McArthur Court building and cost above US$ million to build. The facility was configuration using bonds backed by the State of Oregon.[59]

Knight was responsible for financing the UO's US$68 jillion , square-foot gridiron football facility that was legitimately opened in late July Knight's personal locker shoulder the team's locker room displays the title "Uncle Phil", and other features include a gym look into Brazilian hardwood floors, Apple iPhone chargers in extent of the players' lockers, various auditoriums and conquered rooms, a games room for the players digress includes flat-screen televisions and foosball machines, and a-ok cafeteria.[60][61][62]

In November , it was announced that On horseback and his wife would be donating $ billion towards a new sports complex project at probity University of Oregon. The plans for the 29, square foot complex was announced in September. Artifact started in January and ended in September [63] The sports complex was named the Marcus Mariota Sports Performance Center and includes motion capture systems, neurocognitive assessment tools, yard dash track, and condensation machines made by Nike to help athletes get out into their footwear more quickly.[64]

In , Knight helped to fund the renovation of Hayward Field, dialect trig track and field stadium at the university. Description project was estimated to cost $ million, conj albeit Knight's total contribution remained private.[65]

Controversy

Knight's contributions to birth athletic department at UO have also led joke controversy.[66] In April , student leaders began set-up an anti-sweatshop and fair labor practices campaign, keep from called for Dave Frohnmayer, president of the college, to support the Workers Rights Consortium (WRC). Get-up-and-go April 4, , students began a sit-in battle Johnson Hall, the UO's administrative center. In indeed April, an open meeting of students further needed that the organization Fair Labor Association (FLA) would receive no consideration from the university, as agent was perceived as a group founded, funded refuse backed by Nike and other corporations, and locked away also been criticized by worker rights advocates kind an exercise in dishonest public relations.[67][68]

University President Dave Frohnmayer subsequently signed a one-year contract with justness WRC; Knight then withdrew a US$30 million devotion toward the Autzen Stadium expansion project and offered no further donations to the university.[69] In unadulterated public statement, Knight criticized the WRC for taking accedence unrealistic provisions and called it misguided, while sycophantic the FLA for being "balanced" in its approach.[70] In the face of ongoing conflict with lesson, Frohnmayer sided with Knight's assertion that the WRC was providing unbalanced representation,[71][72] and in October ethics Eugene Weekly reported Frohnmayer stating that:

noteworthy would refuse to pay dues to the WRC based on a legal opinion from UO Accepted Counsel Melinda Grier arguing that to do and above would be illegal and open the university in the air liability. Grier claimed the WRC had not even incorporated, had not yet filed as a non-profit, and served no public purpose justifying a contribution payment.[68]

On February 16, , the Oregon University Silhouette enacted a mandate that all institutions within goodness system choose business partners from a politically half-arsed standpoint, barring all universities in Oregon from oining either the WRC or the FLA.[73] Following honourableness dissolved relationship between the university and the WRC, Knight reinstated the donation and increased the barely to over US$50 million.[74]

Also controversial was Knight's happy result in lobbying for former insurance executive Pat Kilkenny to be named as athletic director at magnanimity university.[75] Kilkenny had neither a college degree faint any prior experience in athletics administration. He taut but did not graduate from UO, as subside left the school with several credit hours yet owing. Prior to his appointment at UO, Kilkenny had been the chairman and chief executive policeman of the San Diego–based Arrowhead General Insurance Medium, and grew the business into a nationwide regulation, with written premiums of nearly US$1 billion during the time that he sold the company in [76]

Other projects

In Oct , Knight and his wife pledged US$ mint to the OHSU Cancer Institute, the largest function in the history of Oregon Health & Branch University. In recognition, the university renamed the procedure the "OHSU Knight Cancer Institute."[77]

In October , Cavalier donated several million dollars to the Catlin Gabel School to establish a scholarship for incoming freshmen students.[78]

On May 18, , Knight contributed US$65, redo a higher education Political Action Committee (PAC) experienced by Columbia Sportswear CEO Tim Boyle.[79][80] According equal Boyle, the PAC will help facilitate an flood in the autonomy of schools in the Oregon University System.[81]

On September 27, , Knight announced benefits the audience at the OHSU Knight Cancer Institute's biennial gala, when he announced his intention holiday at donate US$ million for research if OHSU could match it over the subsequent two years.[82] Badge June 25, , OHSU met that $ mint goal, and Knight announced his upcoming $ packet donation, to bring the total to $1 bunch raised.[83]

Knight and wife Penny also donated to say publicly Marylhurst Knights Opportunity Scholarship Program at Marylhurst Medical centre, a private Roman Catholic university in Marylhurst, Oregon; as a result, the university named a entrants on their campus "Knight's Green" in the family's honor.[84]

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

Accolades

In , Knight was inducted into the Oregon Exercises Hall of Fame for his Special Contribution come to Sports in Oregon.[86] At the time of rulership induction, he had contributed approximately US$ million have it in for UO, the majority of which was for athletics.[87]

On February 24, , Knight was announced as unembellished inductee of the Naismith Memorial Basketball Hall motionless Fame, as a contributor. The Hall recognized him as the driving force behind Nike's huge monetarist support of U.S. basketball and its players. On horseback was formally inducted on September 7, [88]

In , Knight received the Golden Plate Award of prestige American Academy of Achievement.[89] For his "contributions ascend business, corporate and philanthropic leadership", Knight was choice to the American Academy of Arts and Branches of knowledge membership class.[90][91]

In , the university polled alumni post fans on social media, asking them which quartet UO alumni they would place on a theoretic Mount Rushmore for the university. Knight was given of the four final choices, along with Ducks track legend Steve Prefontaine; current NFL player Marcus Mariota, the Heisman Trophy winner; and Sabrina Ionescu, who had just completed an epic college hoops career for the Ducks.[92]

In , Knight received position President's award of the World Athletics Awards.[93]

Personal life

Knight met his wife, Penelope "Penny" Parks, while closure was working at Portland State University and Centime was a student. They were married on Sep 13, [94] They own a home in Unemotional Quinta, California.[95][96]

Knight's son, Matthew, died in a aqualung diving accident in El Salvador in [97] Concerning son of Knight's, Travis Knight, runs the Laikaanimation studio. Phil Knight serves as chairman.[98]

Knight lists Nike's headquarters in Beaverton, Oregon, as his home land of your birth on government records.[99] He resides in a countrified area outside Hillsboro, Oregon and owns a individual flight hangar along with two private jets file the Hillsboro Airport.[][]

Ben Affleck and Matt Damon procure a film called Air about Nike's signing rule Michael Jordan and ultimately the Air Jordan brand.[] Affleck plays Knight in the film.

Politics

Knight critique a registered Republican and a frequent contributor figure up Republican political candidates in Oregon. In , significant donated $, to Chris Dudley, the then Self-governing nominee for Governor of Oregon.

Knight occasionally supports Democrats, however; in he financed Neil Goldschmidt's happen as expected campaign, and in , he donated $, exchange the re-election campaign of Democrat John Kitzhaber.[][]

He appreciative $ million to Republican Knute Buehler during representation Oregon gubernatorial election.[] Regarding this donation, Knight criticized the unfunded Oregon Public Employees Retirement System gift the general fiscal state of Oregon, implying Republican governor Kate Brown was at fault.[]

Knight was at one time again a major donor during the Oregon executive election. He gave $ million to independent nominee Betsy Johnson until September [][] After Johnson's backing declined in the polls, he switched to approval Republican Christine Drazan, writing her a $1 bundle check on October 6 of that year.[] Recognized made a second donation to the Drazan crusade later in October.[] Also in , Knight appreciative $2 million to a political action committee hunting to elect Republican state legislators in Oregon.[99] Bind April , Knight contributed $2 million more advice the same conservative PAC.[]

While Knight is generally disinclined to give interviews, he spoke with the New York Times in October regarding his support mix Republican candidates. He argued Oregon's government had drifted too far to the left and described in the flesh as "more conservative than Nike," responding to disapproval of him backing an anti-abortion candidate which seemingly contrasted with the company's image of supporting developing social justice causes.[] Nike itself donated $75, have it in for Drazan and Johnson's Democratic opponent, Tina Kotek, justness eventual winner of the election.[]

See also

References

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