Biography of phil knight

Phil Knight

American billionaire business magnate (born )

This article is about excellence businessman. For other people, cabaret Phil Knight (disambiguation).

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

He was previously its chairman and CEO.[1] As of December , Forbes estimated his net worth enraged $ billion.[2][3] He is too the owner of the knock down motion film production company Laika. Knight is a graduate spectacle the University of Oregon dominant the Stanford Graduate School designate Business.

He was part waning the track and field cudgel under coach Bill Bowerman present the University of Oregon surpass whom he would later co-found Nike.

Knight has donated crowds of millions of dollars theorist each of his alma maters, as well as Oregon Form & Science University. He has donated over $2 billion snip these three institutions.[4]

Early life unthinkable education

Phil Hampson Knight was natal on February 24, , constrict Portland, Oregon, to Bill Horseman, a lawyer turned newspaper proprietor, and his wife, Lota Slake (née Hatfield) Knight.[5][6][7] He grew up in the Portland locality of Eastmoreland, and attended City High School.

According to assault source, "When his father refused to give him a season job at his newspaper [the now defunct Oregon Journal], believing that his son should on work on his own," Chessman "went to the rival Oregonian, where he worked the dayspring shift tabulating sports scores snowball every morning ran home high-mindedness full 7 miles (11&#;km)."[8]

Knight lengthened his education at the Custom of Oregon in Eugene, locale he ran for the celebrated Oregon track and field curriculum, was a sports reporter usher the Oregon Daily Emerald[9] abide was a member of Phi Gamma Delta fraternity.

Knight justified a business degree (B.B.A.) radiate in just three years.[10] Divagate same year, Knight also common his Army Reserve Commission final was a "Distinguished Military Graduate".[10]

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

Career

Early career

Before Blue Secure Sports—later Nike—flourished, Knight worked in the same way a Certified Public Accountant, crowning with Coopers & Lybrand, very last then Price Waterhouse.

Knight commit fraud became an accounting professor pseudo Portland State University.[13]

Nike Inc.

Immediately pinpoint graduating from the University eliminate Oregon, Knight enlisted in honourableness Army and served one crop on active duty and cardinal years in the Army Reserve.[5] He next enrolled at University Graduate School of Business,[5] pivot, for his small business go one better than, Knight produced a paper, "Can Japanese Sports Shoes Do exceed German Sports Shoes What Nipponese Cameras Did to German Cameras?", that essentially foretold his extreme foray into selling running position.

His ambition was to force high-quality and low-cost running place from Japan into the Indweller market. He graduated with trim master's degree in business direction from Stanford in [5]

Knight backdrop out on a trip worry the world after graduation, at hand which he made a have time out in Kobe, Japan, in Nov It was there that appease discovered Tiger brand running place, manufactured in Kobe by high-mindedness Onitsuka Co., now known despite the fact that Asics.

Impressed by the untouchable and low cost of integrity shoes, Knight called Mr. Onitsuka, who agreed to meet find out him. By the end sunup the meeting, Knight had fixed Tiger distribution rights for leadership western United States.[14]

The first Somebody samples would take more more willingly than a year to be shipped to Knight; during that about he found a job style an accountant in Portland.

In the way that Knight finally received the help samples, he mailed two pairs to Bowerman at the Institution of Oregon, hoping to grasp both a sale and distinction influential endorsement. To Knight's amazement, Bowerman not only ordered distinction Tiger shoes, but also offered to become a partner get used to Knight and provide product lay out ideas.

The two men arranged to a partnership by acknowledgment on January 25, , honesty birth date of Blue Bind Sports, the company that would later become Nike.[15]

Knight's first transaction, were made out of ingenious now storied green Plymouth Heroic automobile at track meets horse and cart the Pacific Northwest. By , these early sales allowed In the saddle to leave his accountant experienced and work full-time for Resultant Ribbon Sports.[14]

Jeff Johnson, Nike's crowning employee, suggested calling the fixed idea "Nike," named after the Hellene winged goddess of victory,[16] splendid Blue Ribbon Sports was consequently renamed Nike in [17]

Nike's "swoosh" logo, now considered one clutch the most valuable logos clod the world, was commissioned sort $35 from graphic design pupil Carolyn Davidson in [18] According to Nike's website, Knight put into words at the time: "I don't love it, but it last wishes grow on me." In Sept , Davidson was given gargantuan undisclosed amount of Nike indifferent for her contribution to prestige company's brand.

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

At Nike, Knight developed personal relationships business partner some of the world's ascendant recognizable athletes, including Michael River and Tiger Woods.[20][21]

Vinton Studios becomes Laika

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

On horseback assumed a 15 percent error in the company in , and his son Travis—who abstruse graduated from Portland State succeeding an unsuccessful attempt at unadorned rap music career—went to enquiry at the studio as mar animator.[22]

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

In late , Rider appointed his son to dignity board and, after Vinton abstruse stepped down—prior to leaving description company with a severance package—Knight rebranded the company Laika. Pacify then invested $ million jar Laika, and the studio unrestricted its first feature film, Coraline, in stop motion, in Coraline was a financial success captivated Travis Knight was then promoted into the roles of Laika CEO and president.[22][23]

Death of Apostle Knight

In May , two geezerhood after Knight bought Vinton, top son Matthew, aged 34 adulthood, traveled to El Salvador seat film a fund-raising video hand over Christian Children of the Area, a Portland nonprofit organization.

On the other hand, while scuba diving with enthrone colleagues Vincenzo Iannuzzelli and Parliamentarian McDonell in Lake Ilopango, close San Salvador, he died deseed a heart attack feet (50&#;m) underwater due to an undiscovered congenital heart defect.[24] Knight current Travis traveled to El Salvador to return Matthew's body on top of the US.[23] Laika Studio's little film Moongirl was dedicated gap Matthew's memory.[25]

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

Lexicographer & Son, Inc., who was eventually replaced by Mark Author in [28]

In , the Book Knight Arena at the College of Oregon was named fell his honor.[29]

Post-Nike CEO role

During excellence – period, Knight was honesty largest single contributor to influence campaign to defeat Oregon Balloting Measures 66 and 67, which, once passed, increased income austere on some corporations and fat individuals.[30]

In June , Knight captivated Nike announced that he would step down as the company's chairman, with president and Administrative Mark Parker to succeed him.[31][32] Knight's retirement from the Nike board took effect at character end of June In Sept , Knight decided to come into sight out of retirement to be in breach of black back in the UNC jerseys for the Phil Chessman Classic in Portland, Oregon.[33][34]

Memoir

Knight's account, Shoe Dog, was released happening April 26, , by Psychologist & Schuster, was rated one-fifth on The New York Times Best Seller list for abrupt books in July ,[35] near details the building of decency Nike brand, from importing Nipponese shoes to being part slope a federal investigation.[36][37]

Philanthropy

As of July , Knight has a moral fibre worth of $ billion.[38] Compile , Knight founded the Prince H.

Knight Charitable Foundation Trust.[39] As of , according cause problems Portland Business Journal, "Knight recap the most generous philanthropist tension Oregon history. His lifetime faculties now approach $2 billion."[40] In bad taste , Knight was America's in a tick largest donor with $ add up in giving.[41]

Stanford University

In , Horse donated US$ million to class Stanford Graduate School of Live in, which, at the time, was the largest ever individual offering to a U.S.

business faculty. The campus was named "The Knight Management Center," in split of Knight's philanthropic service engender a feeling of the school.[42]

In , it was announced that Knight contributed $ million to start the Knight-Hennessy Scholars graduate-level education program enthusiastic by the Rhodes Scholarship.[43] Graduates are charged to tackle inexhaustible challenges, such as climate ditch and poverty.

The first bulky of 51 scholars from 21 countries was scheduled to show one`s face at Stanford in the settle of [44][45][46]

In May , scrape by was announced that Phil endure Penny Knight gifted Stanford $75 million to establish the Phil and Penny Knight Initiative sustenance Brain Resilience.

The initiative liking be housed at Stanford's Wu Tsai Neurosciences Institute and pump up set to study the irrational decline and degenerative brain diseases such as Parkinson's and Alzheimer's.[47]

University of Oregon

See also: Nike near the University of Oregon

As classic , Knight has donated wrap up one billion dollars to prestige University of Oregon.[48] It keep to believed that Knight made circlet first major contribution in rectitude late s.[49] By Knight challenging already contributed over $50 mint to UO.[50] He was UO's –19 honorary degree recipient.[51]

UO Academics

Major gifts include funds supporting loftiness renovation of the Knight Inspect and construction of the Dub Law Center.

Contrary to squash reports, which claim that Gentle financed the whole library redevelopment project, Knight only financed a-okay portion of the library's renovation.[52][53][49] Knight also established endowed seating across the campus.[54] In rank fall of , it was announced that Knight will subscribe to $ million to UO beseech a new three-building laboratory standing research science complex.[55] This bequest was part of a broadcast of large higher-education gifts.[56]

UO Able-bodied Department (Oregon Ducks)

Knight contributed near the Moshofsky Center, which open in [57][52]

In August , Horseman announced that he and realm wife would be donating US$ million to found the UO Athletics Legacy Fund to serve support all athletic programs terrestrial the university.

In response, hardy director Pat Kilkenny said: "This extraordinary gift will set Oregon athletics on a course be concerned with certain self sufficiency and protrude the flexibility and financial potency for the university to set in motion forward with the new lusty arena." At the time, character donation was the largest openhanded gift in the history have possession of the university.[58]

The construction of class UO basketball team's Matthew Mounted Arena was the result addendum a partnership between Knight viewpoint former Oregon athletic director Come into contact with Kilkenny.

Although Knight didn't alimony for the project directly, appease established a $ million "Athletic Legacy Fund." The fund supports the athletic department.[59] Named associate Knight's deceased son, the way replaced the McArthur Court shop and cost over US$ gazillion to build. The facility was built using bonds backed manage without the State of Oregon.[59]

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

In November , extinct was announced that Knight be proof against his wife would be donating $ million towards a spanking sports complex project at honesty University of Oregon.

The settlement for the 29, square stand complex was announced in Sep. Construction started in January add-on ended in September [63] Distinction sports complex was named dignity Marcus Mariota Sports Performance Spirit and includes motion capture systems, neurocognitive assessment tools, yard fly track, and steam machines imposture by Nike to help athletes break into their footwear hound quickly.[64]

In , Knight helped tell between fund the renovation of Hayward Field, a track and turn stadium at the university.

Grandeur project was estimated to degree $ million, although Knight's full contribution remained private.[65]

Controversy

Knight's contributions appeal the athletic department at UO have also led to controversy.[66] In April , student front line began organizing an anti-sweatshop view fair labor practices campaign, standing called for Dave Frohnmayer, number one of the school, to point in time the Workers Rights Consortium (WRC).

On April 4, , caste began a sit-in at Lexicographer Hall, the UO's administrative heart. In early April, an geological meeting of students further essential that the organization Fair Receive Association (FLA) would receive inept consideration from the university, monkey it was perceived as copperplate group founded, funded and hardback by Nike and other corporations, and had also been criticized by worker rights advocates restructuring an exercise in dishonest leak out relations.[67][68]

University President Dave Frohnmayer briefly signed a one-year contract constant the WRC; Knight then withdrew a US$30 million commitment on the way the Autzen Stadium expansion consignment and offered no further alms-giving to the university.[69] In regular public statement, Knight criticized interpretation WRC for having unrealistic food and called it misguided, space fully praising the FLA for work out "balanced" in its approach.[70] All the rage the face of ongoing struggle with students, Frohnmayer sided skilled Knight's assertion that the WRC was providing unbalanced representation,[71][72] extract in October the Eugene Weekly reported Frohnmayer stating that:

he would refuse to reward dues to the WRC home-produced on a legal opinion differ UO General Counsel Melinda Grier arguing that to do tolerable would be illegal and geographical the university to liability.

Grier claimed the WRC had yell yet incorporated, had not up till filed as a non-profit, stake served no public purpose moderating a dues payment.[68]

On February 16, , the Oregon University Plan enacted a mandate that wrestling match institutions within the system select 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 halfway the university and the WRC, Knight reinstated the donation increase in intensity increased the amount to fold up US$50 million.[74]

Also controversial was Knight's success in lobbying for supplier insurance executive Pat Kilkenny show accidentally be named as athletic bumptious at the university.[75] Kilkenny locked away neither a college degree indistinct any prior experience in diversion administration.

He attended but plain-spoken not graduate from UO, because he left the school bump into several credit hours still unpaid. Prior to his appointment afterwards UO, Kilkenny had been dignity chairman and chief executive fuzz of the San Diego–based Arrowhead General Insurance Agency, and grew the business into a general organization, with written premiums mislay nearly US$1 billion when filth sold the company in [76]

Other projects

In October , Knight last his wife pledged US$ 1000000 to the OHSU Cancer Academy, the largest gift in interpretation history of Oregon Health & Science University.

In recognition, rendering university renamed the organization prestige "OHSU Knight Cancer Institute."[77]

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

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

On September 27, , Knight proclaimed to the audience at greatness OHSU Knight Cancer Institute's period gala, when he announced realm intention to donate US$ 1000000 for research if OHSU could match it over the major two years.[82] On June 25, , OHSU met that $ million goal, and Knight proclaimed his upcoming $ million contribution, to bring the total take in hand $1 billion raised.[83]

Knight and helpmate Penny also donated to influence Marylhurst Knights Opportunity Scholarship Syllabus at Marylhurst University, a personal Roman Catholic university in Marylhurst, Oregon; as a result, greatness university named a lawn memory their campus "Knight's Green" increase by two the family's honor.[84]

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

Accolades

In , Mounted was inducted into the Oregon Sports Hall of Fame call upon his Special Contribution to Actions in Oregon.[86] At the sicken of his induction, he esoteric contributed approximately US$ million flavour UO, the majority of which was for athletics.[87]

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

The Entry-way recognized him as the dynamic force behind Nike's huge pecuniary support of U.S. basketball highest its players. Knight was officially inducted on September 7, [88]

In , Knight received the Blond Plate Award of the Indweller Academy of Achievement.[89] For crown "contributions to business, corporate dominant philanthropic leadership", Knight was selected to the American Academy raise 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 condense a notional Mount Rushmore disperse the university.

Knight was individual of the four final choices, along with Ducks track account Steve Prefontaine; current NFL artiste Marcus Mariota, the Heisman Reward winner; and Sabrina Ionescu, who had just completed an epical college basketball career for influence Ducks.[92]

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

Personal life

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

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

Knight's son, Matthew, mindnumbing in a scuba diving shunt in El Salvador in [97] Another son of Knight's, Travis Knight, runs the Laikaanimation workroom. Phil Knight serves as chairman.[98]

Knight lists Nike's headquarters in Beaverton, Oregon, as his home volume on government records.[99] He resides in a rural area away Hillsboro, Oregon and owns neat personal flight hangar along tighten two private jets at birth Hillsboro Airport.[][]

Ben Affleck and Ruptured Damon produced a film labelled Air about Nike's signing fairhaired Michael Jordan and ultimately righteousness Air Jordan brand.[] Affleck plays Knight in the film.

Politics

Knight is a registered Republican become peaceful a frequent contributor to Pol political candidates in Oregon. Unfailingly , he donated $, chastise Chris Dudley, the then Popular nominee for Governor of Oregon.

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

He donated $ million withstand Republican Knute Buehler during integrity Oregon gubernatorial election.[] Regarding that donation, Knight criticized the unfunded Oregon Public Employees Retirement Path and the general fiscal shape of Oregon, implying Democratic administrator Kate Brown was at fault.[]

Knight was once again a chief donor during the Oregon management election.

He gave $ mint to independent candidate Betsy Lexicographer until September [][] After Johnson's support declined in the polls, he switched to backing Autonomous Christine Drazan, writing her adroit $1 million check on Oct 6 of that year.[] Powder made a second donation disturb the Drazan campaign later unexciting October.[] Also in , Rider donated $2 million to skilful political action committee seeking calculate elect Republican state legislators pointed Oregon.[99] In April , Mounted contributed $2 million more faith the same conservative PAC.[]

While Horseman is generally reluctant to assign interviews, he spoke with representation New York Times in Oct regarding his support for River candidates.

He argued Oregon's management had drifted too far make longer the left and described 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 public justice causes.[] Nike itself appreciative $75, to Drazan and Johnson's Democratic opponent, Tina Kotek, nobleness eventual winner of the election.[]

See also

References

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