Phil Knight
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Nike co-founder Phil Knight is donating $2 billion to the Oregon Health and Science University’s Knight Cancer Institute, the one largest donation ever to a U.S. university, college or health institution, in accordance with the Knight Foundation.
The inspiration said on Thursday the gift that can be used to shift the scientific approach to cancer treatment, research and patient care outcomes.
As a part of the gift, the Knights will partner with cancer research pioneer Dr. Brian Druker.
A decade ago, Druker and OHSU took on a challenge to boost $500 million for cancer research, and the Knights signed on to match the raise dollar-for-dollar.
“We’re grateful for the chance to take a position in the following stage of the Druker-led revolutionary vision of cancer research, diagnosis, treatment, care, and a few day, eradication,” Phil and Penny Knight said in an announcement. “We couldn’t be more excited in regards to the transformational potential of this work for humanity.”
Phil and Penny Knight with Dr. Brian Druker of the OHSU Knight Cancer Institute.
Courtesy of OHSU Knight Cancer Institute.
Knight’s fortune stems from his success with the swoosh, the corporate he founded in 1964.
Originally called Blue Ribbon Sports, the business began humbly, with Knight selling sneakers out of the trunk of his automobile, as he recounted in his 2016 memoir, “Shoe Dog.”
Nike went public in December 1980 and quickly became essentially the most dominant sneaker brand, partnered with a number of the top athletes across sport.
During Knight’s tenure at the general public company, from its IPO to his June 2016 retirement, Nike shares soared almost 30,500%.
Although Nike stock has had a painful few years, down greater than 50% from its peak in late 2021, it stays the most beneficial public company in athletic footwear, valued at greater than $110 billion.
The Knights are repeatedly found on lists of top philanthropists. In May, Time Magazine estimated their lifetime giving at $3.6 billion, including $370 million gifted in 2024 alone.
Based on the Knight Foundation’s latest tax documents the muse held greater than $5 billion in assets at the top of 2023.
“I wanted to construct something that was my very own, something I could point to and say: I made that. It was the one way I saw to make life meaningful,” Knight said in his 2016 memoir.
Correction: The headline on this story has been updated to correct that Phil Knight is donating to Oregon Health and Science University’s Knight Cancer Institute. A previous version misstated the institution.
