Portland, OR

The Portland man giving away billions

Ash Jurberg

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I'm sure most readers will be familiar with Phil Knight.

Knight has a net worth of $46.6 billion. This makes him the richest person in Portland and the 27th richest person globally.

But many readers may not be aware of how much Knight's fortune he is giving back. So today, I thought we could take a quick look at the Portland man giving away billions.

The Portland man giving away billions

Phil Knight was born in Portland and grew up in the neighborhood of Eastmoreland. He attended Cleveland High School and the University of Oregon, where he ran track.

Together with his college track coach Bill Bowerman, Knight created Blue Ribbon Sports in 1964. Blue Ribbon Sports eventually evolved into Nike- a company that now boasts over $45 billion in revenue each year.

Knight retired from Nike in 2016.

Philanthropy

Knight has more wealth than any of us could ever imagine, but thankfully he is giving away a lot of his fortune.

"By the time, you know, the lives of my children and their kids run out, I will have given most of it to charity." Phil Knight

According to the Portland Business Journal, "Knight is the most generous philanthropist in Oregon history." Forbes estimates Knight has given away over $3.1 billion and ranked him 9th on its list of the most generous billionaires.

This includes over $2.5 billion in pledges to three universities:

  • the University of Oregon
  • Oregon Health & Science University
  • Stanford University

He has also donated $500 million to Oregon Health & Science University for cancer research.

During the start of the COVID pandemic, Knight contributed to the Oregon Community Foundation Recovery Fund to assist with relief efforts across the state.

Readers, do you think Knight is giving away enough of his net worth? What other Portland organizations do you think he should support?

Please leave your comments below.

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