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Oregon boasts one of the wealthiest billionaires globally, with Phil Knight, co-founder and former CEO of Nike, securing the No. 24 spot on the list of America’s richest individuals. The ranking, which evaluates 400 billionaires and their families in the United States, places Knight among the top 100 wealthiest people worldwide.
The 2024 Forbes 400 list revealed that the combined net worth of the nation’s richest individuals reached an astounding $5.4 trillion, nearly $1 trillion more than the previous year. The top five billionaires included Elon Musk ($244 billion), Jeff Bezos ($197 billion), Mark Zuckerberg ($181 billion), Larry Ellison ($175 billion), and Warren Buffett ($150 billion).
Phil Knight, born and raised in Portland, Oregon, co-founded Nike in 1964 alongside Bill Bowerman, his former track and field coach at the University of Oregon. Initially operating under the name Blue Ribbon Sports, the company sold Japanese athletic shoes before adopting the Nike brand in 1971.
Knight retired as chairman of Nike in 2016, but he and his family maintain a 20% ownership stake in the company. With a current net worth of $36.8 billion, Knight ranks as the 24th wealthiest individual in the United States and the 51st globally. While his net worth peaked at $49.9 billion in 2021, it has since gradually declined.
Knight and his wife, Penny, have donated over $3.6 billion to various causes. In 2023, they pledged $400 million to revitalize Portland’s historically Black Albina neighborhood. The couple has also made substantial contributions to the University of Oregon, funding the Matthew Knight Arena (named after their late son), the renovation of Hayward Field, and the establishment of the Phil and Penny Knight Campus for Accelerating Scientific Impact. Phase two of the Knight Campus is currently under construction, supported by an additional $500 million donation from the Knights.
Beyond Oregon, their philanthropy extends to Stanford University, where Knight earned his MBA. The couple has donated more than $500 million to the institution. Additionally, the Oregon Health & Science University Knight Cancer Institute bears their name following a $100 million donation.
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