Phil Knight

In addition to overseeing Nike, Knight has pursued other ventures outside of the world of athletic apparel. In 2002, Knight acquired Portland, Oregon-based Vinton Shop, an animation studio specializing in stop-motion. The studio was renamed Laika in 2005. Laika is led by Knight's son TravisTravis, an animator who serves as the studio's chief executive. The studio has produced several successful animated films, including Coraline and ParaNorman.

In addition to overseeing Nike, Knight has pursued other ventures outside of the world of athletic apparel. In 2002, Knight acquired Portland, Oregon-based Vinton Shop, an animation studio specializing in stop-motion. The studio was renamed Laika in 2005. Laika is led by Knight's son Travis, an animator who serves as the studio's chief executive. The studio has produced several successful animated films, including Coraline and ParaNorman.

In 2016, Knight released Shoe Dog, a memoir detailing the early days of Nike and its subsequent evolution into the behemoth it is today. Published by Scribner, the book was a critical and commercial success, reaching number one on the New York Times Bestsellers List.

Philip H. Knight, better known as Phil Knight, is an American billionaire and businessman best known as the foundercofounder, former CEO, and chairman emeritus of Nike, Inc. Knight co-foundedcofounded Nike in 1964 with his former college track coach, Bill Bowerman, and oversaw the company's rise to the number one athletic apparel and shoeware brand in the world over his more than three decadethree-decade tenure as CEO and chairman.

Knight was born February 24, 1938, in Portland, Oregon,. toHis father was a lawyer turned newpaperlawyer-turned-newspaper publisher, for Oregon Journal. From 1955 to 1959, Knight attended the University of Oregon, where he ran middle distance for the school's track team and graduated with a degree in journalism. Knight enlisted in the army for a year after graduating, then went back to school, enrolling at Stanford's Graduate School of Business. At Stanford, Knight conceived the idea for Nike in a paper outlining a business plan to sell athletic shoes produced in Japan, where labor costs were cheaper.

Two years after graduating from Stanford with his MBA, Knight reunited with his oldformer University of Oregon track coach, Bill Bowerman, in 1964. Together the two created Blue Ribbon Sports, an athletic footwear distributor that would go on to be Nike. Knight, who was working as an accountant at the time, initially sold running shoes out of the trunk of his green Plymouth Valiant at weekend track meets. Blue Ribbon Sports distributed Onitsuka Tiger running shoes, a brand Knight had discovered while traveling abroad in Japan. Adorning the shoes with his Blue Ribbon Sports logo, Knight was able to steadily build the brand, selling $1 million of shoes by 1969.

In 1972, Onitsuka sent a letter to Knight announcing that the company would be terminating its distribution deal with Blue Ribbon Sports. Onitsuka offered to purchase 51% percent of Blue Ribbon Sports, a gesture which Knight refused. After the partnership with Onitsuka was dissolved, Knight decided to rebrand and rename Blue Ribbon Sports. One of Knight's employees suggested the name Nike, named after the Greek spirit of victory from mythology. The company also adopted a new logo, a "swoosh" design, thatwhich they had comissionedcommissioned for $35. Knight debuted both the new name and logo in 1972 and saw continued growth and success. Eight years later, in 1980, Nike went public and passed rival Adidas to become the industry leader in athletic footwear.

Although the company saw continued success throughout the 70s and early 80s, with the company raking in $867 million in revenue in 1983, Nike hit a bit of a trouble by February 1984, reporting its first everfirst-ever quarterly loss. It was at this time that Nike offered a then unheard ofthen-unheard-of shoe deal to the much-hyped NBA rookie Michael Jordan: $500,000 a year for five years. Additionally, Knight and Nike also offered Jordan stock options, as well as the opportunity to design his own shoes. Having no other offers come even close to that deal, Jordan signed with Nike. The company released the first Air Jordan sneakers - asneakers—a pair of red, black, and white trainers - intrainers—in 1985. Originally predicting they would sell 100,000 pairs in their first year, Air Jordans were a massive success, selling more than 450,000 pairs and catapulting both Jordan's and Nike's popularity even more. The partnership between Knight and Jordan would prove to be highly lucrative for both men, with Nike's stock jumping 9,305 percent from 1984 to 2003 and Jordan making over $1.3 billion from the brand.

Knight continued serving as Nike's CEO throughout the 90s and early 2000s, guiding the company through a time of controversy and criticism regarding its labor practices. Nike's longtime practice of outsourcing its labor to Asia, where the company relied on low wages and sometimes underage workers to manufacture the shoes at a low cost. In 1998, Knight announced that the company would be ending its child labor practices, raising its minimum age in overseas factories to 18eighteen. Critics applauded the move, although many pointed out that Knight had not made any mention of raising minimum wage in siadsaid facilities, where workers were paid around one or two dollars a day.

Knight retired as Nike's CEO from Nike in 2004 and was originally succeeded by William Perez. Knight would fire Perez two years later and instead give the position to Mark Parker, who had joined Nike in 1979 as a shoe designer. Knight continued to serve as Nike's Chairmanchairman until 2016, when he officially retired and was given the title of Chairmanchairman Emeritusemeritus. Parker succeeded Knight as Nike's acting chairman.

Knight continued serving as Nike's CEO throughout the 90s and early 2000s, guiding the company through a time of controversy and criticism regarding its labor practices. Nike's longtime practice of outsourcing its labor to Asia, where the company relied on low wages and sometimes underage workers to manufacture the shoes at a low cost. In 1998, Knight announced that the company would be ending its child labor practices, raising its minimum age in overseas factories to 18. Critics applauded the move, although many pointed out that Knight had not made any mention of raising minimum wage in siad facilities, where workers were paid around one or two dollars a day.

Knight retired as CEO from Nike in 2004 and was originally succeeded by William Perez. Knight would fire Perez two years later and instead give the position to Mark Parker, who had joined Nike in 1979 as a shoe designer. Knight continued to serve as Nike's Chairman until 2016, when he officially retired and was given the title of Chairman Emeritus. Parker succeeded Knight as Nike's acting chairman.

Although the company saw continued success throughout the 70s and early 80s, with the company raking in $867 million in revenue in 1983, Nike hit a bit of a trouble by February 1984, reporting its first ever quarterly loss. It was at this time that Nike offered a then unheard of shoe deal to the much-hyped NBA rookie Michael Jordan: $500,000 a year for five years. Additionally, Knight and Nike also offered Jordan stock options, as well as the opportunity to design his own shoes. Having no other offers come even close to that deal, Jordan signed with Nike. The company released the first Air Jordan sneakers - a pair of red, black and white trainers - in 1985. Originally predicting they would sell 100,000 pairs in their first year, Air Jordans were a massive success, selling more than 450,000 pairs and catapulting both Jordan's and Nike's popularity even more. The partnership between Knight and Jordan would prove to be highly lucrative for both men, with Nike's stock jumping 9,305 percent from 1984 to 2003 and Jordan making over $1.3 billion from the brand.

In 1972, Onitsuka sent a letter to Knight announcing that the company would be terminating its distribution deal with Blue Ribbon Sports. Onitsuka offered to purchase 51% of Blue Ribbon Sports, a gesture which Knight refused. After the partnership with Onitsuka was dissolved, Knight decided to rebrand and rename Blue Ribbon Sports. One of Knight's employees suggested Nike, named after the Greek spirit of victory from mythology. The company also adopted a new logo, a "swoosh" design that they had comissioned for $35. Knight debuted both the new name and logo in 1972 and saw continued growth and success. Eight years later in 1980, Nike went public and passed rival Adidas to become the industry leader in athletic footwear.

Two years after graduating from Stanford with his MBA, Knight reunited with his old University of Oregon track coach, Bill Bowerman, in 1964. Together the two created Blue Ribbon Sports, an athletic footwear distributor that would go on to be Nike. Knight, who was working as an accountant at the time, initially sold running shoes out of the trunk of his green Plymouth Valiant at weekend track meets. AsBlue outlined inRibbon hisSports Stanford paper, Knight sold Japanese-produceddistributed Onitsuka Tiger running shoes, adorninga brand Knight had discovered while traveling abroad in Japan. Adorning themthe shoes with his Blue Ribbon Sports logo, Knight was able to steadily build the Blue Ribbon Sports label. Although slow at firstbrand, Blue Ribbon Sports would end up selling one$1 million dollars worth of shoes by 1969.

Knight was born February 24, 1938 in Portland, Oregon, to a lawyer turned newpaper publisher. From 1955 to 1959, Knight attended the University of Oregon, where he ran middle distance for the school's track team and graduated with a degree in journalism. Knight enlisted in the army for a year after graduating, then went back to school, enrolling at Stanford's Graduate School of Business. At Stanford, Knight conceived the idea for Nike in a paper where he outlinedoutlining a business plan to sell athletic shoes produced in Japan, where labor costs were cheaper.

Two years after graduating from Stanford with his MBA, Knight reunited with his old University of Oregon track coach, Bill Bowerman, in 1964. Together the two created Blue Ribbon Sports, an athletic footwear distributor that would go on to be Nike. Knight, who was working as an accountant at the time, initially sold running shoes out of the trunk of his green Plymouth Valiant at weekend track meets. As outlined in his Stanford paper, Knight sold Japanese-produced Onitsuka running shoes, adorning them with the Blue Ribbon Sports label. Although slow at first, Blue Ribbon Sports would end up selling one million dollars worth of shoes by 1969.

Philip H. Knight, better known as Phil Knight, is an American billionaire and businessman best known as the founder, former CEO and chairman emeritus of Nike, Inc. Knight co-founded Nike in 1964 with his former college track coach, Bill Bowerman, and oversaw the company's rise to the number one athletic apparel and shoeware brand in the world over his more than three decade tenure as CEO and chairman.

Knight was born February 24, 1938 in Portland, Oregon, to a lawyer turned newpaper publisher. From 1955 to 1959, Knight attended the University of Oregon, where he ran middle distance for the school's track team and graduated with a degree in journalism. Knight enlisted in the army for a year after graduating, then went back to school, enrolling at Stanford's Graduate School of Business. At Stanford, Knight conceived the idea for Nike in a paper where he outlined a business plan to sell athletic shoes produced in Japan, where labor costs were cheaper.

Philip H. Knight, better known as Phil Knight, is an American billionaire and businessman best known as the founder, former CEO and chairman emeritus of Nike, Inc. Knight co-founded Nike in 1964 with his former college track coach, Bill Bowerman, and oversaw the company's rise to the number one athletic apparel and shoeware brand in the world over his more than three decade tenure as CEO.

Phil Knight is the co-founder of Nike, Inc., one of the world's largest suppliers of athletic shoes and apparel. He had served as the chairman and chief executive officer of the company in the past. Dubbed the “most powerful person in sports” by ‘Sports Illustrated’, Knight is neither a sportsman nor the owner of a sports team, but his influence on the world of sports has been tremendous. He had always had an interest in running and was a middle-distance runner at the University of Oregon (UO) in Eugene where he studied journalism. As a college student, he was confused about his future and tried his hand working at different jobs before realizing what he actually wanted to do. He served in the army for some time and also worked as an assistant professor at Portland State University (PSU). It was only when he enrolled at the Stanford Graduate School of Business that his life purpose made itself clear to him. While working on a college assignment he came up with the idea for a sports shoe company and realized that he had found his calling. He teamed up with his former track coach, Bill Bowerman and the duo started out by selling Japanese-made running shoes in America. Eventually their business evolved into what is today one of the most famous brands of sports apparel, Nike.

Childhood & Early Life

• He was born as Philip Hampson Knight on February 24, 1938, as the son of lawyer turned newspaper publisher William W. Knight, and his wife Lota. His father was a domineering though caring person who encouraged his son to push his limits.
• He attended Cleveland High School in Portland. He loved running from a young age and was a key member of the track team.
• He went to the University of Oregon (UO) in Eugene where he continued running. There he met the legendary track coach Bill Bowerman under whom he trained as a middle-distance runner. Eventually Knight struck up a deep and meaningful friendship with Bowerman. He graduated with a journalism degree in 1959.
• Knight was confused about his future even after his graduation and unsure of what he actually wanted to do. He enlisted in the army and completed a year of service.
• He decided to enroll in the Graduate School of Business at Stanford University. One of the courses he studied was Frank Shallenberger’s small business class which he found very interesting.
• While working on an assignment in which the students had to invent a new business, Knight came up with the blueprint for a business dealing in sports shoes. He wrote a paper titled ‘Can Japanese Sports Shoes Do to German Sports Shoes What Japanese Cameras Did to German Cameras?’ and realized that the purpose of his life was to create a business dealing in shoes. He graduated with a MBA in 1962.

Career

• He embarked on a trip around the world following his graduation. He visited Japan in November 1962 where he discovered the Tiger-brand running shoes which were manufactured by Onitsuka Co. Knight was highly impressed by the high quality and low cost of the shoes and quickly secured a distribution contract with the company.
• On his return, he took up a job in a Portland-based accounting firm while working on his business plan alongside. He collaborated with his former coach Bowerman to form a partnership to distribute the shoes in America, and thus the company Blue Ribbon Sports was born in 1964.
• The duo worked hard to make the business grow and over the next few years they opened retail stores in Santa Monica, California, and Eugene, Oregon. The company performed well and by the late 1960s was generating good profits.
• Knight and Bowerman faced some disagreements regarding the contract with Onitsaka in 1971 and decided to start their own company. Jeff Johnson, a friend of Knight and an employee of Blue Ribbon Sports suggested naming the new company “Nike” after the Greek winged goddess of victory.

• As a former athlete, Knight aspired to design products that the world’s top athletes would want to use. He made acquaintances with Olympic track athletes, such as the long-distance runner Steve Prefontaine, hoping he would influence others to try his products. Nike’s model of shoe, the Cortez, debuted at the 1972 Olympic trials and proved to be highly profitable.
• The company’s profits grew manifold over the ensuing years and by 1980 Nike had captured one-half of the athletic shoe market. Knight offered an endorsement deal to the tennis superstar John McEnroe, and this proved to be one of his best marketing moves. After McEnroe hurt his ankle, he started wearing a particular Nike model and the sales of that model surged in the months to come.
• Nike saw steady growth throughout the 1980s and 1990s. The company’s escalating fame allowed Knight to rope in more world famous sportspeople like Michael Jordan, Andre Agassi, Charles Barkley, and Tiger Woods for endorsements.
• Along with tremendous success, Knight also came under the scrutiny of human rights groups over how Nike treated its workers in Asian countries. Nike was accused of paying very low wages to its Asian workers, and there were also accusations of corporal punishment and sexual harassment in Nike facilities. In spite of the criticisms Nike remained one of the world’s largest shoemakers.
• In the 1990s, Nike expanded its business and branched out into hockey, golf, and soccer apparel. Their aggressive expansion strategy paid off and the company enjoyed more than $10 billion in yearly sales before 1999.

• Phil Knight resigned as the CEO of Nike in November 2004 though he continued as the chairman of the board. He announced in June 2015 that he would step down as the company's chairman though he did not specify a date.

Major Works

• Phil Knight co-founded Nike, Inc., a footwear company, in 1971. Today Nike is a multinational with its presence in several countries all over the world and is one of the world's largest suppliers of athletic shoes and apparel and a major manufacturer of sports equipment. It is the most valuable brand among sports businesses.

Awards & Achievements

• In 2000, Knight was inducted into the Oregon Sports Hall of Fame for his Special Contribution to Sports in Oregon.
• In 2012, he was inducted into the Naismith Memorial Basketball Hall of Fame as a contributor for being the driving force behind Nike's huge financial support of U.S. basketball and its players.

Personal Life & Legacy

• He married Penelope "Penny" Parks in September 1968. They had four children, of whom one son, Matthew, died in a diving accident in 2004.

Philanthropic Works

• Knight donated US $105 million to the Stanford GSB in 2006, which was at that time the largest ever individual donation to an American business school.
• Along with his wife, he pledged US $100 million to the OHSU Cancer Institute in 2008 which was later renamed "OHSU Knight Cancer Institute" in his honor.
• In 2012, Knight contributed US $65,000 to the higher education Political Action Committee (PAC) which aims to facilitate an increase in the autonomy of schools in the Oregon University System.

Net Worth

• As of 2015, Phil Knight has a net worth of US $23.8 billion