Nike co-founder Phil Knight to donate $2 billion to OHSU cancer institute
The foundation said on Thursday the gift that will be used to shift the scientific approach to cancer treatment, research and patient care outcomes.
As 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 raise $500 million for cancer research, and the Knights signed on to match the raise dollar-for-dollar.
"We are grateful for the opportunity to invest in the next stage of the Druker-led revolutionary vision of cancer research, diagnosis, treatment, care, and some day, eradication," Phil and Penny Knight said in a statement. "We couldn't be more excited about the transformational potential of this work for humanity."
Knight's fortune stems from his success with the swoosh, the company he founded in 1964.
Originally called Blue Ribbon Sports, the business began humbly, with Knight selling sneakers out of the trunk of his car, as he recounted in his 2016 memoir, "Shoe Dog."
Nike went public in December 1980 and quickly became the most dominant sneaker brand, partnered with some of the top athletes across sport.
During Knight's tenure at the 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 more than 50% from its peak in late 2021, it remains the most valuable public company in athletic footwear, valued at more than $110 billion.
The Knights are regularly 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.
According to the Knight Foundation's latest tax documents the foundation held more than $5 billion in assets at the end of 2023.
"I wanted to build something that was my own, something I could point to and say: I made that. It was the only way I saw to make life meaningful," Knight said in his 2016 memoir.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 hours ago
- Yahoo
NIKE, Inc. (NKE) Might Be Making A Comeback, Says Jim Cramer
We recently published . NIKE, Inc. (NYSE:NKE) is one of the stocks Jim Cramer recently discussed. NIKE, Inc. (NYSE:NKE)'s shares have gained a modest 3.5% year-to-date as the firm executes a slow and long-drawn turnaround. The shares have gained 22% since late June after the firm's fiscal fourth quarter earnings beat analyst earnings and revenue estimates. The results convinced investors that NIKE, Inc. (NYSE:NKE) was successfully executing its turnaround. Cramer's previous comments about the firm have wondered whether it should undergo another round of layoffs. Here are his recent thoughts: 'I also by the way think Nike's making a comeback. But I know that when you go and you think sneaker, it's always been a tough run. But these guys are a 16 billion dollar [inaudible] I like them. I really do. I like them.' Previously, Cramer discussed NIKE, Inc. (NYSE:NKE)'s performance: 'I know. I was expecting, I was thinking that Nike would have another layoff. I think that they're still too bloated. . . ..I think that the Footlocker buy by Dick's is an acknowledgement that Footlocker's getting the right Nikes. I think, but I think they needed another cut. I think they have too many people. That's out there. I just think it's still a little too early. I think that industry clustered around Nike, and that Nike no longer seems to have that athletic edge that they once had.' While we acknowledge the potential of NKE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 hours ago
- Yahoo
Jim Cramer Discusses Foot Locker Inc (FL) In The Context Of Government Data
We recently published . Foot Locker Inc (NYSE:FL) is one of the stocks Jim Cramer recently discussed. Foot Locker Inc (NYSE:FL)'s stock has gained 18% year-to-date, primarily on the back of an 85% jump in May that reshaped the narrative surrounding the firm. The reason its shares rose was DICK'S Sporting Goods announcing that it would buy the company. Cramer's previous comments about Foot Locker Inc (NYSE:FL) have speculated that DICK'S was interested in the firm because of its ability to procure Nike shoes. This time, he commented on the firm in the context of government data about prices: 'They've been going to Foot Locker and they had everything and they just were slashing prices as they coordinate with DICK'S. Again, I mean like, go to Old Navy, I just don't know how to tell people that they should save money, but you can save money.' Previously, Cramer commented on Foot Locker Inc (NYSE:FL)'s earnings report: 'Foot Locker reported a terrific quarter, much better than expected, as CEO Mary Dillon's turnaround plan takes hold, aided by Nike's attempts to repair its relationship with actual shoe stores. Nobody cared too much under the previous CEO. Nike didn't really care for Foot Locker; they wanted more of an emphasis on direct-to-consumer. It was stupid, and that didn't work out. But Elliott Hill, the new CEO, is working very closely with Foot Locker. It's a new Foot Locker. But people were way too gloomy to even notice the same-store sales improvement this morning. That doesn't make sense. I think it's a genuine winner. I can go on, and yes, despite all these positives, the stock only gained 89 cents because things are being valued incorrectly.' While we acknowledge the potential of FL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
15 hours ago
- Business Insider
Nike (NKE) Co-Founder Phil Knight Donates $2 Billion to Cancer Institute
Nike (NKE) co-founder Phil Knight is donating $2 billion to the Oregon Health and Science University's Knight Cancer Institute. It is the single largest donation ever to an American university, college or health institution. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. The donation is being made through the Knight Foundation and will be used to shift the scientific approach to cancer treatment, research, and patient care. The cancer institute at the Oregon university is named after Phil Knight, who is a long-time benefactor through his foundation. As part of the $2 billion gift, Phil Knight is partnering with cancer researcher Dr. Brian Druker, who took on a challenge more than a decade ago to raise $500 million for cancer research. 'We are grateful for the opportunity to invest in the next stage of the Druker-led revolutionary vision of cancer research, diagnosis, treatment, care, and some day, eradication,' said Phil Knight in a written statement. Philanthropy Phil Knight, age 87, has amassed a fortune estimated at $35 billion through his work at sneaker maker Nike, a company he co-founded in 1964 and built into a retail giant. Originally called Blue Ribbon Sports, the business began with Knight selling sneakers out of his car at local Oregon track meets. Nike went public in 1980 and grew through its branding and marketing, as well as its partnerships with top athletes such as Michael Jordan and Tiger Woods. From the time of Nike's IPO in 1980 until Knight's retirement from the company in 2016, the stock gained more than 30,000%. Phil Knight is known as a top philanthropist within the U.S. Time magazine previously estimated his lifetime giving at $3.6 billion. NKE stock is up 2% this year. Is NKE Stock a Buy? average NKE price target of $78.93 implies 3.35% upside from current levels.
