Phil Knight Donates Nearly $1 Billion Of Nike Shares To Charity

Nike Inc. co-founder and chairman emeritus Phil Knight has reportedly donated 12 million shares Nike shares, or practically $1 billion value, to an unnamed charitable group, based on reviews.

Knight, 80, and his spouse Penelope have been lively philanthropists through the years, donating tons of thousands and thousands to the University Oregon and Stanford University, the 2 colleges the place Knight went to varsity and graduate college. According to reviews, Knight’s newest donation — value $990 million when it was made Wednesday — represents about zero.7%  the corporate’s excellent shares and three.1% his $32 billion fortune.

Earlier this 12 months it was introduced that Netflix has optioned the film rights to Nike founder Phil Knight’s autobiography “Shoe Dog.” According to Variety, Knight will produce with Frank Marshall, whereas Scott Alexander and Larry Karaszewski have reportedly signed on to put in writing the screenplay. 

“Shoe Dog,” which was revealed in April, 2016, and stays on the New York Times Best Seller record, will take viewers by Knight’s journey, beginning together with his humble beginnings in Oregon to the launch Nike in 1963 and the corporate’s meteoric rise to the highest the athletic footwear and way of life area. 

LeBron James Reacts To Nike Stock Hitting All-Time High

Nike’s stock closed at an all-time high on Thursday at $83.47, according to a report from Bloomberg, just days after the company’s stock took a noticeable dip.

Nike’s record closing comes less than two weeks after their polarizing “Just Do It” ad campaign featuring Colin Kaepernick debuted, but as Bloomberg notes, “it will likely be months, if not longer, until anyone can fully measure the business impact” their partnership with the free agent QB.

That said, Edison Trends show Nike sales tracking well above last year in the days since the Kaepernick ad. Their data only measures online sales, and doesn’t account for people who are committed to boycotting Nike over time, but there was a significant increase as supporters immediately purchased Nike products.

Per Bloomberg: “Edison scanned receipts from more than 200 online retailers (including and found that that Tuesday after Labor Day, for example, the first full day after Kaepernick’s ad went viral, Nike purchases were 22 percent higher than the same day in 2017. On Wednesday they were 42 percent higher, and Thursday they were 23 percent higher. They remained above 2017 levels through the end the week.”

LeBron James, who has signed a lifetime contract with Nike, took to twitter after Nike closed at an all-time high to reaffirm that The Swoosh is on fire right now.