Phil Knight

Philip Hampson Knight, better known as Phil Knight, is an American billionaire business magnate and the co-founder and chairman of the footwear and apparel giant Nike Inc., who has an estimated net worth of a whopping $34.2 Billion. Phil Knight has earned the vast majority of his incredible fortunes, largely tied to his ownership stake in Nike. Let's understand how the business tycoon has built a small startup into a successful business venture.

What is Phil Knight’s Net Worth?

According to Forbes, as of 2024, Phil Knight is the 50th richest man in the world, who has an estimated net worth of a staggering $35.6 Billion. 

Phil Knight earned his net worth as the founder and largest individual shareholder of Nike Inc. In 1964, Phil Knight with his track coach Bill Bowerman, co-founded Nike after putting in $500, and it was then named Blue Ribbon Sports. According to reports on Oberlo, as of November 2024, Nike is the biggest shoe company in the world in terms of market capitalization, with a value of $124.92 Billion. Knight and his family members own roughly 300 Million shares of Nike. Phil personally continues to own 32 Million shares on his own and his son Travis Knight also directly owns 41 Million shares.

On November 18, 2004, Phil Knight resigned as the CEO of Nike and in June 2015, Knight stepped down as the chairman of Nike. However, he still has a major ownership stake in Nike. Apart from his successful business venture Nike, Knight has donated more than $2 Billion to the University of Oregon, Stanford University, and the Oregon Health and Science University. With this, Phil Knight is also one of America's top philanthropists. Overall Phil Knight’s net worth is highly influenced by the value of Nike's stock, his business ventures and investments, and his ongoing philanthropic commitments.

What is Phil Knight’s claim to fame?

Phil Knight’s fame and success are a result of his dedication, hard work, and his success as an entrepreneur. Phil Knight became famous as the co-founder of Nike, Inc., which he built from a small startup into one of the most successful sportswear companies in the world. Let's look at the significant events that helped Phil Knight gain fame including-

• Founding of Blue Ribbon Sports (now Nike)- In 1964, Phil Knight with his track coach Bill Bowerman, co-founded Blue Ribbon Sports ( now Nike). They initially served as U.S. distributors for a Japanese brand, Onitsuka Tiger (now ASICS). In 1971, when the relationship with Onitsuka Tiger was ending, Knight and Bowerman decided to launch their own line of footwear named “Nike”, inspired by the Greek goddess of victory. The first Nike shoe debuted in 1972, featuring a lightweight design that Bowerman engineered himself.
• Deal with Michael Jordan- In 1984, Nike signed basketball player Michael Jordan for brand endorsement and marketing. The “Air Jordan” line of shoes became a cultural phenomenon and is credited with transforming Nike into a global brand. This partnership with the brand remains one of the most successful and enduring in sports history. Knight’s innovative approach to athlete endorsements continued with stars like Tiger Woods, Serena Williams, LeBron James, and Cristiano Ronaldo, which helped further solidify Nike’s presence across various sports.
• Philanthropic works- Beyond Nike, Knight’s significant donations to education and healthcare always grab media attention and publicity. Knight’s significant charitable contributions to the University of Oregon, Stanford University, and the Oregon Health and Science University further enriched his fame. In April 2016, Simon & Schuster published Knight's memoir, "Shoe Dog.”

What businesses does Phil Knight own?

Phil Knight, the business tycoon holds stakes in various business ventures such as

• Nike Inc.- In 1964, Phil Knight with his former University of Oregon track coach Bill Bowerman, co-founded the multinational sportswear and sports equipment corporation Nike, Inc. (originally called Blue Ribbon Sports). In November 2004, Knight stepped down as CEO and as Chairman in 2016 but still retains a significant share in the company. According to Forbes, Phil Knight and his family still own 20% of the $51 Billion (fiscal 2024 revenue).
• Laika Animation Studio- In 2005, Phil Knight founded Laika, a stop motion film production company known for films like Coraline, ParaNorman, Kubo and the Two Strings. Knight’s son, Travis Knight, serves as Laika’s President and CEO and has directed several of its films. In 1998, Knight assumed a 15 percent stake in the company. In 2009, Knight invested $180 Million into Laika, and the studio released its first feature film, Coraline.

What brands has Phil Knight endorsed?

Unlike many other high-profile celebrities, Phil Knight is not widely known for brand endorsements, as he has primarily focused on his career as a successful businessman, entrepreneur, and philanthropist rather than brand endorsements and partnerships.

How does Phil Knight spend his Millions?

Phil Knight enjoys a super luxurious lifestyle. He spends his millions in a variety of ways such as real estate, investments in businesses, expensive cars, charitable contributions, and personal interests. Phil Knight owns luxurious properties in California, Oregon, and Hawaii. Knight also owns a lavish private jet and a private jet hangar at Hillsboro Airport. He is also actively involved in philanthropic and charity works. He has so far donated millions of dollars to many organizations, including Stanford University, the University of Oregon, and the OHSU Knight Cancer Institute.

How many houses does Phil Knight own?

Phil Knight owns multiple luxurious properties all around the world. Some of his notable residences and properties include-

• Mansion in La Quinta, California (Madison Club)- In April 2015, Phil Knight purchased a $4.2 Million mansion in La Quinta’s pricey, prestigious Madison Club, California. The custom mansion, built in 2012 spans on a land of 0.62 acres. The mansion features five bedrooms, five bathrooms, a large swimming pool, and an outdoor fireplace.
• Mansion in Hillsboro, Oregon- In 2012, Phil Knight purchased a 1972-built mansion in Hillsboro, Oregon reportedly for $2.1 Million. The 6,826-square-foot mansion boasts four bedrooms, five bathrooms, a gourmet kitchen, a private study room, a mini theater, a wine cellar, a fitness center, and a spa room. The outdoor area offers beautiful well-maintained gardens with a large swimming pool, an outdoor kitchen, a seating area, and a guest house.

Apart from these luxurious properties, Phil Knight is believed to own real estate in Hawaii as well. He is reported to have owned luxury vacation homes on the islands, however, the details about his Hawaiian properties are not extensively known to the general public.

How many cars does Phil Knight own?

Unlike many other billionaire business tycoons and high-profile celebrities, Phil Knight isn’t known for flaunting an extensive collection of exotic cars. There’s relatively little public information about the vehicles he owns. However, two cars stand out in his story, each representing a unique chapter in his journey. Besides these, Knight is also known to own a luxurious private jet, which he often uses to meet the demands of his busy personal and professional life.

• Audi R8- Phil Knight owns a black Audi R8 with contrasting silver strikes. In 2014, Knight was often seen driving this car around Nike’s world headquarters in Beaverton, Oregon.
• 1963 Plymouth Valiant- Phil Knight has been known to own the 1963 Plymouth Valiant back when he started his entrepreneurial journey. He began by selling Japanese Onitsuka running shoes, which he imported directly to customers at sports events and meetings across the Pacific Northwest. Operating from the trunk of his green Plymouth Valiant station wagon, Knight personally built his growing business, which would later become the global sportswear giant Nike.

Other Vehicles-

• Gulfstream G650- Phil Knight owns Nike's Gulfstream G650 worth $65 Million as per Business Insider. It features luxurious beds, full kitchens, conference spaces, and entertainment systems. Knight has reportedly also spent $7.6 Million on a 29,000 square feet private jet hangar at Hillsboro Airport near Portland, Oregon. According to the Journal, the hangar was for Knight's personal use and to house his Gulfstream G650 jet.

What are Phil Knight’s charitable contributions?

Besides having a luxurious lifestyle, Phil Knight is actively involved in philanthropy and charity work. Phil Knight is one of America's top philanthropists. According to Forbes, Phil Knight and his wife Penny, have donated $3.6 Billion to charity so far which is mainly through their Knight Foundation. Let's look at the business tycoon's most significant charitable contributions-

• The Knight Foundation- In 1990, Phil Knight founded the Philip H. Knight Charitable Foundation Trust. According to the Portland Business Journal, "Knight is the most generous philanthropist in Oregon history. Phil’s lifetime gifts now approach $2 Billion. In 2023, Knight was America's second-largest donor with a donation of $1.2 Billion. According to Oregon Live, as of November 2024, The Knight Foundation is the largest philanthropic organization in Oregon with $3.8 Billion in assets.
• Donation to Stanford University- In 2006, Phil Knight donated $105 Million to the Stanford Graduate School of Business. In 2016, Knight also donated $400 Million to start the Knight-Hennessy Scholars program. Stanford University named the campus "The Knight Management Center" in his honor. Knight was also awarded Stanford's Degree of Uncommon Citizen, which recognizes his extraordinary service to the university.
• Donation to the University of Oregon- Phil Knight has so far donated more than $1 Billion to the University of Oregon, which includes a donation of $500 Million in 2013 and another $500 Million in 2021.
• Gift to OHSU Knight Cancer Institute- In 2008, Phil Knight and his wife Penny, donated $100 Million to the OHSU Cancer Institute. It is the largest gift in the history of Oregon Health & Science University. The university also renamed the organization as “OHSU Knight Cancer Institute” in their honor.
• Donation to 1803 Fund- In 2023, Phil Knight and his wife Penny, pledged $400 Million to the 1803 Fund, a Portland racial-justice group. The donation was used to establish Rebuild Albina and to revitalize the historic Albina area of Portland.

What’s next for Phil Knight?

In 2016, Phil Knight stepped down as Nike's chairman and day-to-day operations at Nike but came out of retirement in 2017 to put black back in the UNC jerseys for the Phil Knight Classic. He also continues to focus on strategic business initiatives, philanthropy, and investing in new business ventures. Phil Knight is still considered the owner of Nike for tax purposes, and his family owns about one-fifth of the company's shares.