|Net Worth||$40 Billion|
|Sources of Income||Business, Investments|
|Date of Birth||Feb 24, 1938|
What Is Phil Knight's Net Worth?
Phil Knight, the founder and largest individual shareholder of Nike Inc., boasts a staggering net worth of $40 billion. Knight's financial success largely comes from his iconic athletic shoe and sports apparel company.
Phil Knight’s Stake in Nike
Knight owns a 24% share of Nike, the world's largest athletic shoe and sports apparel company. His entrepreneurial journey began when he secured distribution rights for Tiger running shoes, leading to the establishment of Blue Ribbon Sports, later rebranded as Nike. The other brands under the Nike umbrella, including Converse and Jordan also contribute to his wealth. His involvement in Laika, formerly known as Will Vinton Studios, is another revenue stream.
In 1964, Phil Knight and Bill Bowerman embarked on a groundbreaking venture, pooling $500 each to establish Blue Ribbon Sports (BRS). Over the years, their investment evolved into a global powerhouse, with Nike's current revenues nearing $45 billion. The duo initially collaborated with Onitsuka to dominate the North American market. By 1969, BRS expanded its footprint, selling $1 million worth of Tiger running shoes. However, contractual disagreements led to a split with Onitsuka in 1971.
Knight and Bowerman launched Nike in 1972, unveiling the iconic Cortez shoe during the Olympic trials. In that inaugural year, Nike raked in over $3 million in revenue. Knight chronicled these transformative years in his 2016 book, "Shoe Dog," offering insights into Nike's early journey. According to the latest financial reports, Nike has achieved remarkable revenue growth, reaching $51.46 billion in the trailing twelve months (TTM) period.
A Look at Phil Knight's Assets
Knight owns an opulent 8,000-square-foot mansion in La Quinta, California. Acquired in 1996, this desert retreat is located within the exclusive Madison Club, a high-end golf and residential community favored by celebrities and business leaders. In 2016, Knight secured a substantial stake in Vesta Corporation, specializing in the acquisition, development, and management of commercial properties throughout the United States. His visionary approach is evident in his 2004 acquisition of 2,100 acres of land near Sisters in central Oregon.
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Knight was born on February 24, 1938, in Portland, Oregon. Knight married Penelope "Penny" Parks in 1963. The couple has three children: Matthew, Travis, and Christina. Tragedy struck the family in 2004 when Matthew passed away during a scuba diving excursion in El Salvador.
In 1993, Knight earned the prestigious title of the "Most Powerful Man in Sports." In 1982, the University of Oregon honored him with the Pioneer Award, acknowledging his pioneering contributions. In 1997, Business Weekly recognized him as one of America's top managers.
What was Phil Knight's company before Nike?
Before Nike, Phil Knight's company was called Blue Ribbon Sports.
Who designed the Nike Swoosh logo, and how much was the designer paid?
The Nike Swoosh logo was designed by Carolyn Davidson. She was paid $35 for her work.
Which athletes are associated with Nike's endorsement deals?
Nike's endorsement deals include prominent figures like LeBron James and Cristiano Ronaldo.
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