Introduction
Phil Knight, the founder of Nike and a celebrated business mogul, is undoubtedly an inspirational figure. But behind the success is a close-knit family who has stood by him, especially his wife, Penny. The two met in college and were married for over fifty years before Penny passed away in 2020 at the age of 77.
Together they had two children; daughter Jennifer, who works with the USC Marshall Venture Capital Fund, and son Matthew who serves on the board of directors for Nike. Phil and his family led modest lives despite amassing wealth from Nike, known not to flaunt their fortune or celebrity status.
Their philanthropic endeavors included donating hundreds of millions to science and research, higher education, and youth development programs throughout Oregon universities, hospitals, and organizations.
Early Life
The early life of Phil Knight, and his close-knit family, was characterized by an emphasis on hard work and determination. Growing up in Oregon, his parents instilled the same values that would shape Knight’s life story.
Along with his two siblings, he learned the importance of resilience and the value of education during his formative years. His mother, Lota Hatfield Knight especially encouraged him to pursue his dreams and become whatever he wanted, believing furthering one’s education was paramount for success.
Net Worth
According to Forbes’ Rich List, Phil Knight and his family boast an incredible combined net worth of over $35.2 billion. Born in Portland, Oregon, in 1938, the Nike founder and chairman enjoyed a remarkable business career that began with Blue Ribbon Sports (later renamed Nike) in 1964. He was joined by his son, Travis Knight, as a co-founder in 1973 and has since welcomed 3 additional family members into the company’s executive ranks.
Trivia
Phil Knight, the Co-founder of Nike Inc., and his wife Penny have been married since 1968. The couple has three children together: Matthew, the eldest son, born in 1970, followed by his younger sister, Melissa Knight-Crawford, in 1972; and their youngest son Travis was born in 1978.
Phil is active philanthropically and an acclaimed businessman; he has been inducted into both the Oregon Sports Hall of Fame and the National Business Hall of Fame. His generosity extended to donating $500 million to the University of Oregon for a new science complex, making it one of the largest donations ever made to a public university.
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