Business Guru Phil Knight Age, Net Worth And Wife

Phil Knight (February 24, 1938) creator of the multi-million dollar sportswear brand Nike . He was born in Portland, Oregon, United States. His father was William W. Knight. He studied to be a business administrator.

Phil Knight Biography

He was born Philip Hampson Knight on February 24, 1938, the son of lawyer turned newspaper publisher William W. Knight, and his wife Lota. His father was a domineering but 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 to run. There he met legendary track coach Bill Bowerman with whom he trained as a middle-distance runner. Ultimately, Knight struck up a deep and meaningful friendship with Bowerman. He graduated with a degree in journalism in 1959.

Knight was confused about his future even after graduation and unsure of what he really 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 she studied was Frank Shallenberger‘s small business class, which she found very interesting.

While working on an assignment in which students had to invent a new business, Knight came up with a plan for a running shoe business. He wrote an article titled “Can Japanese Sports Shoes Do to German Sports Shoes What Japanese Cameras Did to German Cameras?” And he realized that his life purpose was to create a shoe business. He graduated with an MBA in 1962.

On vacation he decided to look for a summer job, so his taste and his theoretical and practical knowledge of sports led him to be a sports journalist for the Oregonian newspaper on night shifts.

In the day he played sports, jogging about 7 miles, at that time he met Bill Bowerman. From that moment he began the incipient history of the great global sports brand Nike. Bowerman was always very creative when it came to looking for sneaker models for his students.

To graduate from business school, he wrote a thesis inspired by Bowerman’s interest. In this sense, he developed an idea of ​​designing quality footwear, manufacturing it would be in the hands of Asian business men and later selling it in the North American market. 

In 1962 the idea materialized. Knight contacted Onitsuka’s Tiger brand in Japan to propose the distribution of the brand in the United States, assuring them that it would be a viable project due to the dissatisfaction of many athletes with the shoes sold in Oregon. 

Finally, Phil received the first installment from him months later. The first thing he did was tell his trainer about the news and bring her a few pairs to support the sale. Bowerman, preferred to make a proposal for them to join and make modifications to the Tiger shoes.

Phil Knight is the co-founder of Nike, Inc., one of the world’s largest suppliers of sports footwear and apparel. He had served as the company’s president and CEO in the past. Dubbed the “most powerful person in sports” by “Sports Illustrated,” Knight is neither an athlete nor a sports team owner, but his influence on the sports world has been tremendous.

He had always been interested 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 at different jobs before realizing what he really wanted to do. 

While working on a college assignment, he came up with the idea for an athletic 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 selling Japanese sneakers in the United States. 

Eventually his business grew into what is now one of the most famous sportswear brands, Nike. Bill Bowerman, and the duo started out selling Japanese sneakers in the United States. Eventually his business grew into what is now one of the most famous sportswear brands, Nike. 

Bill Bowerman, and the duo started out selling Japanese sneakers in the United States. Eventually his business grew into what is now one of the most famous sportswear brands, Nike.

Phil Knight Career

Already in 1964, after having invested just 1,000 dollars, they obtained an order for 300 pairs of shoes, with the company called Blue Ribbons Sports ., located in Santa Monica, California, Phil Knight started sales successfully. 

The BRS company began to grow rapidly, neither Bowerman nor Knight had the time because it demanded, so they hired athlete Jeff Johnson, whom Knight had met at Stanford. 

Jeff would not only fulfill the duty that Bill and Phil had entrusted to him, but he was a key player in the advancement of the small business. This young man focused on something fundamental, the advertising issue. 

Johnson would create the first product booklets, print ads, and marketing materials. To avoid unnecessary expenses, he himself took the photos for the company’s catalogues.

Jeff Johnson was responsible for giving the company the famous Nike name, which means “victory” in Greek . By the early 1970s, they disassociated themselves from the oriental company and marked their beginning with the creation of the classic logo designed by Carolyne Davidson. A decade later, the designer was honored by giving him a share of the shares and a ring with the company logo.

In the 1980s, Nike launched Nike Air technology in the Tailwind model and simultaneously went public. Five years past, the 80s were the boom for Nike, because they designed exclusive shoes for the premature NBA basketball player named Michael Jordan. 

This increased profits considerably. Thinking of being leaders in the country, the company launched a strategy to differentiate itself from its competitors, developing a line called Air Max: the only line of footwear that made the air chambers of the shoes visible.

Phil Knight began contributing to charitable causes; he donated $230 million to the Stanford University business school , he also donated $100 million to the OHSU Cancer Institute, as chairman of the Nike board of directors he has done countless philanthropic projects.

Forbes magazine ranked him 31st of the world’s richest men with an approximate net worth of $10.5 billion in 2008, and ranked 24th in 2013. Part of his wealth is due to earnings that the animation company Laika leaves him which he owns. 

After almost two decades of accidents and countless efforts, Phil Knight managed to place his brand among the most valued in the world. He is the author of some very famous books that have served as inspiration for entrepreneurs around the world: Shoe dog, Never stop, One tin soldier, Fifty ways to shuff the planet, among others.

Phil Knight Major Works

Phil Knight co-founded Nike, Inc., a footwear company, in 1971. Today Nike is a multinational with a presence in several countries around the world and is one of the world’s largest suppliers of footwear and sportswear and a major manufacturer of sports equipment. It is the most valuable brand among sports companies.

Phil Knight Awards And Achievements

In 2000, Knight was inducted into the Oregon Sports Hall of Fame for 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 massive financial support of American basketball and its players.

Phil Knight Philanthropic Works

Knight donated US$105 million to the Stanford GSB in 2006, which at the time was the largest single donation ever made 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 “Knight OHSU 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 University System of Oregon.

Phil Knight Net Worth

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

Phil Knight Wife And Childrens

Phil Knight  met the love of his life, Penelope ‘Penny’ Parks, while working at Portland State University. The duo married on September 13, 1968. They own a house in La Quinta, California.

The couple have lived together for many years. Their marriage was full of blessings. They were blessed with three sons namely Matthew Knight, Travis Knight and a daughter Christina Knight. Unfortunately, one of his sons passed away in 2004.