91-419: Philip Hampson Knight (born February 24, 1938) is an American billionaire businessman and philanthropist who is the co-founder and chairman emeritus of Nike, Inc. , a global sports equipment and apparel company. He was previously its chairman and CEO. As of December 2023, Forbes estimated his net worth at $ 45.0 billion. He is also the owner of the stop motion film production company Laika . Knight
182-620: A Certified Public Accountant , first with Coopers & Lybrand , and then Price Waterhouse . Knight then became an accounting professor at Portland State University . Immediately after graduating from the University of Oregon, Knight enlisted in the Army and served one year on active duty and seven years in the Army Reserve . He next enrolled at Stanford Graduate School of Business , where, for his small business class, Knight produced
273-511: A social class in medieval Italy (compare, for example, the Vaishya , the traditional merchant caste in Indian society). Between 1300 and 1500, modern accounting, the bill of exchange , and limited liability were invented, and thus, the world saw "the first true bankers", who were certainly businesspeople. Around the same time, Europe saw the " emergence of rich merchants. " This "rise of
364-486: A $ 12 billion share buyback, as well as a two-for-one stock split, with shares to begin trading at the decreased price on December 24. The split will be the seventh in company history. In June 2018, Nike announced it would initiate a $ 15 billion share buyback over four years, to begin in 2019 upon completion of the previous buyback program. For the fiscal year 2018, Nike reported earnings of US$ 1.933 billion, with annual revenue of US$ 36.397 billion, an increase of 6.0% over
455-593: A Bermudan subsidiary, Nike International Ltd. This transfer allowed the subsidiary to charge royalties to its European headquarters in Hilversum , Netherlands , effectively converting taxable company profits to an account payable in tax-free Bermuda . Although the subsidiary was effectively run by executives at Nike's main offices in Beaverton, Oregon—to the point where a duplicate of the Bermudan company's seal
546-624: A New York based company focused on digital sales and machine learning technology. Nike was made a member of the Dow Jones Industrial Average in 2013, when it replaced Alcoa . On December 19, 2013, Nike's quarterly profit rose due to a 13 percent increase in global orders for merchandise since April of that year. Future orders of shoes or clothes for delivery between December and April, rose to $ 10.4 billion. Nike shares (NKE) rose 0.6 percent to $ 78.75 in extended trading. In November 2015, Nike announced it would initiate
637-452: A combination of human , financial , intellectual , and physical capital to fuel economic development and growth. Since a "businessman" can mean anyone in industry or commerce , businesspeople have existed as long as industry and commerce have existed. "Commerce" can simply mean "trade", and trade has existed through all of recorded history . The first businesspeople in human history were traders or merchants . Merchants emerged as
728-440: A combination of groundbreaking innovations including a full-length air cushioned sole, an external heel counter, a crashpad in the heel for shock absorption, and Fit Frame technology for a stable fit. In 2023, Nike told ESPN that it would cease using kangaroo skins in its products by the end of that year and debut "a new Nike-only, proprietary synthetic upper, [with] a new material that is a better performance solution and replaces
819-501: A course toward certain self sufficiency and create the flexibility and financial capacity for the university to move forward with the new athletic arena." At the time, the donation was the largest philanthropic gift in the history of the university. The 2010 construction of the UO basketball team's Matthew Knight Arena was the result of a partnership between Knight and former Oregon athletic director Pat Kilkenny. Although Knight didn't pay for
910-426: A distributor for Japanese shoe maker Onitsuka Tiger , making most sales at track meets out of Knight's automobile. According to Otis Davis , a University of Oregon student-athlete coached by Bowerman and Olympic gold medalist at the 1960 Summer Olympics , his coach made the first pair of Nike shoes for him, contradicting a claim that they were made for Phil Knight. According to Davis, "I told Tom Brokaw that I
1001-666: A dues payment. On February 16, 2001, the Oregon University System enacted a mandate that all institutions within the system choose business partners from a politically neutral standpoint, barring all universities in Oregon from joining either the WRC or the FLA. Following the dissolved relationship between the university and the WRC, Knight reinstated the donation and increased the amount to over US$ 50 million. Also controversial
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#17327866383821092-569: A gray water treatment center. Nike is mainly owned by institutional investors, who hold around 68% of all shares. The 10 largest shareholders of Nike in early 2024 were: Nike has contracted with more than 700 shops around the world and has offices located in 45 countries outside the United States. Most of the factories are located in Asia, including Indonesia, China, Taiwan, India, Thailand, Vietnam, Pakistan, Philippines, and Malaysia. Nike
1183-460: A heart attack 150 feet (46 m) underwater due to an undetected congenital heart defect. Knight and Travis traveled to El Salvador to return Matthew's body to the US. Laika Studio's 2005 short film Moongirl was dedicated to Matthew's memory. Knight resigned as Nike CEO on November 18, 2004, several months after Matthew's funeral but retained the position of chairman of the board. Knight's replacement
1274-462: A home in La Quinta, California . Businessman A businessperson , also referred to as a businessman or businesswoman depending on the gender, is an individual who has founded , owns , or holds shares in (including as an angel investor ) a private-sector company. A businessperson undertakes activities (commercial or industrial) to generate cash flow , sales, and revenue by using
1365-493: A new kind of businessperson, the capitalist . These people owned or financed businesses as investors, but they were not merchants of goods. These capitalists were a major force in the Industrial Revolution . The Oxford English Dictionary reports the earliest known use of the word "business-men" in 1798, and of "business-man" in 1803. By 1860, the spelling "businessmen" had emerged. Merriam Webster reports
1456-512: A notional Mount Rushmore for the university. Knight was one of the four final choices, along with Ducks track legend Steve Prefontaine ; current NFL player Marcus Mariota , the 2014 Heisman Trophy winner; and Sabrina Ionescu , who had just completed an epic college basketball career for the Ducks . Knight met his wife, Penelope "Penny" Parks, while he was working at Portland State University and they were married on September 13, 1968. They own
1547-503: A one-year contract with the WRC; Knight then withdrew a US$ 30 million commitment toward the Autzen Stadium expansion project and offered no further donations to the university. In a public statement, Knight criticized the WRC for having unrealistic provisions and called it misguided, while praising the FLA for being "balanced" in its approach. In the face of ongoing conflict with students, Frohnmayer sided with Knight's assertion that
1638-461: A paper, "Can Japanese Sports Shoes Do to German Sports Shoes What Japanese Cameras Did to German Cameras?", that essentially foretold his eventual foray into selling running shoes. His ambition was to import high-quality and low-cost running shoes from Japan into the American market. He graduated with a master's degree in business administration from Stanford in 1962. Knight set out on a trip around
1729-582: A partner with Knight and provide product design ideas. The two men agreed to a partnership by handshake on January 25, 1964, the birth date of Blue Ribbon Sports , the company that would later become Nike. Knight's first sales, were made out of a now storied green Plymouth Valiant automobile at track meets across the Pacific Northwest . By 1969, these early sales allowed Knight to leave his accountant job and work full-time for Blue Ribbon Sports. Jeff Johnson, Nike's first employee, suggested calling
1820-489: A regional early release were known as Quickstrikes , and became highly desirable items for teenage members of the sneakerhead subculture . By the 1990s and 2000s , American and European teenagers associated with the preppy or popular clique began combining these sneakers, leggings , sweatpants, crop tops , and tracksuits with regular casual chic street clothes such as jeans, skirts, leg warmers , slouch socks , and bomber jackets . Particularly popular were
1911-478: A status symbol in modern urban fashion and hip-hop fashion due to its association with success in sport. Beginning in the 1980s, various items of Nike clothing became staples of mainstream American youth fashion , especially tracksuits, shell suits , baseball caps , Air Jordans , Air Force 1's, and Air Max running shoes with thick, air cushioned rubber soles and contrasting blue, yellow, green, white, or red trim. Limited edition sneakers and prototypes with
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#17327866383822002-742: Is "squishier, bouncier, and lighter" than foams in typical running shoes. In the middle of the ZoomX foam there is a full-length carbon fiber plate "designed to generate extra spring in every step". At the time of this writing Nike had just released its newest product from the Vaporfly line, the Nike ZoomX Vaporfly NEXT%, which was marketed as "the fastest shoe we’ve ever made" using Nike's "two most innovative technologies, Nike ZoomX foam and VaporWeave material". The Nike brand, with its distinctive " Swoosh " logo, quickly became regarded as
2093-539: Is 3000 yuan per month. The factory employs 70,000 people. This practice was in place for nearly 20 years. On November 5, 2017, the Paradise Papers , a set of confidential electronic documents relating to offshore investment , revealed that Nike is among the corporations that used offshore companies to avoid taxes. Appleby documents detail how Nike boosted its after-tax profits by, among other maneuvers, transferring ownership of its Swoosh trademark to
2184-579: Is a graduate of the University of Oregon and the Stanford Graduate School of Business . He was part of the track and field club under coach Bill Bowerman at the University of Oregon with whom he would later co-found Nike. Knight has donated hundreds of millions of dollars to each of his alma maters , as well as Oregon Health & Science University . He has donated over $ 2 billion to these three institutions. Phil Hampson Knight
2275-404: Is a person who sets up a business or multiple businesses ( serial entrepreneur ). Entrepreneurship may be defined as the creation or extraction of economic value . It is generally thought to embrace risks beyond what is normally encountered in starting a business. Its motivation can include other values than simply economic ones. In general usage, because the distinction is not clear-cut,
2366-1035: Is hesitant to disclose information about the contract companies it works with. However, due to harsh criticism from some organizations like CorpWatch, Nike has disclosed information about its contract factories in its Corporate Governance Report. In the 1990s, Nike received criticism for its use of sweatshops . Beginning in 1990, many protests occurred in big cities such as Los Angeles, Washington, DC and Boston in order to show public outcry for Nike's use of child labor and sweatshops. Nike has been criticized for contracting with factories (known as Nike sweatshops ) in countries such as China, Vietnam, Indonesia and Mexico. Vietnam Labor Watch, an activist group, has documented that factories contracted by Nike have violated minimum wage and overtime laws in Vietnam as late as 1996, although Nike claims that this practice has been stopped. As of July 2011, Nike stated that two-thirds of its factories producing Converse products still do not meet
2457-617: Is not being used. In 2001, a BBC documentary uncovered occurrences of child labor and poor working conditions in a Cambodian factory used by Nike. The documentary focused on six girls, who all worked seven days a week, often 16 hours a day. In April 2014, one of the biggest strikes in mainland China took place at the Yue Yuen Industrial Holdings Dongguan shoe factory, producing amongst others for Nike. Yue Yuen did underpay an employee by 250 yuan (40.82 US Dollars) per month. The average salary at Yue Yuen
2548-424: Is set to study the cognitive decline and degenerative brain diseases such as Parkinson's and Alzheimer's. As of 2023, Knight has donated over one billion dollars to the University of Oregon. It is believed that Knight made his first major contribution in the late 1980s. By 2000 Knight had already contributed over $ 50 million to UO. He was UO's 2018-2019 honorary degree recipient. Major gifts include funds supporting
2639-504: Is specifically barred from forcibly annexing the land that Nike and Columbia Sportswear occupy in Washington County for 35 years, while Electro Scientific Industries and Tektronix receive the same protection for 30 years. Nike is planning to build a 3.2 million square foot expansion to its World Headquarters in Beaverton. The design will target LEED Platinum certification and will be highlighted by natural daylight, and
2730-880: Is the world's largest supplier of athletic shoes and apparel and a major manufacturer of sports equipment , with revenue in excess of US$ 46 billion in its fiscal year 2022. The company was founded on January 25, 1964, as "Blue Ribbon Sports", by Bill Bowerman and Phil Knight , and officially became Nike, Inc. on May 30, 1971. The company takes its name from Nike , the Greek goddess of victory. Nike markets its products under its own brand, as well as Nike Golf, Nike Pro, Nike+ , Nike Blazers , Air Force 1 , Nike Dunk , Air Max , Foamposite, Nike Skateboarding , Nike CR7, and subsidiaries including Air Jordan and Converse . Nike also owned Bauer Hockey from 1995 to 2008, and previously owned Cole Haan , Umbro , and Hurley International . In addition to manufacturing sportswear and equipment,
2821-791: The Knight-Hennessy Scholars graduate-level education program inspired by the Rhodes Scholarship . Graduates are charged to tackle global challenges, such as climate change and poverty . The first class of 51 scholars from 21 countries was scheduled to arrive at Stanford in the fall of 2018. In May 2022, it was announced that Phil and Penny Knight gifted Stanford $ 75 million to establish the Phil and Penny Knight Initiative for Brain Resilience. The initiative will be housed at Stanford's Wu Tsai Neurosciences Institute and
Phil Knight - Misplaced Pages Continue
2912-788: The Nike+ product that monitors a runner's performance via a radio device in the shoe that links to the iPod nano . While the product generates useful statistics, it has been criticized by researchers who were able to identify users' RFID devices from 60 feet (18 m) away using small, concealable intelligence motes in a wireless sensor network . In 2004, Nike launched the SPARQ Training Program /Division. Some of Nike's newest shoes contain Flywire and Lunarlite Foam to reduce weight. The Air Zoom Vomero running shoe, introduced in 2006 and currently in its 11th generation, featured
3003-544: The San Diego –based Arrowhead General Insurance Agency, and grew the business into a nationwide organization, with written premiums of nearly US$ 1 billion when he sold the company in 2006. In October 2008, Knight and his wife pledged US$ 100 million to the OHSU Cancer Institute, the largest gift in the history of Oregon Health & Science University . In recognition, the university renamed the organization
3094-518: The "OHSU Knight Cancer Institute ." In October 2010, Knight donated several million dollars to the Catlin Gabel School to establish a scholarship for incoming freshmen students. On May 18, 2012, Knight contributed US$ 65,000 to a higher education Political Action Committee (PAC) formed by Columbia Sportswear CEO Tim Boyle. According to Boyle, the PAC will help facilitate an increase in
3185-531: The 2000s. It sold Starter in 2007 and Bauer Hockey in 2008. The company sold Umbro in 2012 and Cole Haan in 2013. As of 2020, Nike owns only one subsidiary: Converse Inc. Nike acquired Zodiac, a consumer data analytics company, in March 2018. In August 2019, the company acquired Celect, a Boston-based predictive analytics company. In December 2021, Nike purchased RTFKT Studios, a virtual shoe company that makes NFTs. In February 2021, Nike acquired Datalogue,
3276-676: The Dunk Genesis Cryptokicks collection, which features over 20,000 NFTs. One design by Takashi Murakami was sold for $ 134,000 in April 2022. Nike's world headquarters are surrounded by the city of Beaverton but are within unincorporated Washington County . The city attempted to forcibly annex Nike's headquarters, which led to a lawsuit by Nike, and lobbying by the company that ultimately ended in Oregon Senate Bill 887 of 2005. Under that bill's terms, Beaverton
3367-573: The East Coast, in Wellesley, Massachusetts . In 1971, Bowerman used his wife's waffle iron to experiment on rubber to create a new sole for track shoes that would grip but be lightweight and increase the runner's speed. Oregon's Hayward Field was transitioning to an artificial surface, and Bowerman wanted a sole which could grip to grass or bark dust without the use of spikes. Bowerman was talking to his wife about this puzzle over breakfast, when
3458-974: The Nike 6.0, Nike NYX, and Nike SB shoes, designed for skateboarding. Nike has recently introduced cricket shoes called Air Zoom Yorker, designed to be 30% lighter than their competitors'. In 2008, Nike introduced the Air Jordan XX3, a high-performance basketball shoe designed with the environment in mind. Nike's range of products include shoes, jerseys, shorts, cleats , baselayers , etc. for sports activities such as soccer, basketball, track and field, combat sports , tennis, American football , athletics, golf, ice hockey , and cross training for men, women, and children. Nike also sells shoes for activities such as skateboarding , baseball, cycling, volleyball, wrestling , cheerleading , lacrosse , cricket , aquatic activities, auto racing, and other athletic and recreational uses. Nike partnered with Apple Inc. to produce
3549-571: The Nike brand was valued at $ 29.6 billion. Nike ranked 89th in the 2018 Fortune 500 list of the largest United States corporations by total revenue. The company ranked 239th in the Forbes Global 2000 companies in 2024. Nike, originally known as Blue Ribbon Sports (BRS), was founded by University of Oregon track athlete Phil Knight and his coach, Bill Bowerman , on January 25, 1964. The company initially operated in Eugene , Oregon as
3640-567: The Nike logo. Runner Jeff Johnson was brought in to help market the new brand and was credited for coining the name “Nike”. It would bear the Swoosh newly designed by Carolyn Davidson . The Swoosh was first used by Nike on June 18, 1971, and was registered with the U.S. Patent and Trademark Office on January 22, 1974. In 1976, the company hired John Brown and Partners, based in Seattle, as its first advertising agency . The following year,
3731-548: The WRC was providing unbalanced representation, and in October 2000 the Eugene Weekly reported Frohnmayer stating that: ... he would refuse to pay dues to the WRC based on a legal opinion from UO General Counsel Melinda Grier arguing that to do so would be illegal and open the university to liability. Grier claimed the WRC had not yet incorporated, had not yet filed as a non-profit, and served no public purpose justifying
Phil Knight - Misplaced Pages Continue
3822-487: The agency created the first "brand ad" for Nike, called "There is no finish line", in which no Nike product was shown. By 1980, Nike had attained a 50% market share in the U.S. athletic shoe market, and the company went public in December of that year. Wieden+Kennedy , Nike's primary ad agency, has worked with Nike to create many print and television advertisements, and Wieden+Kennedy remains Nike's primary ad agency. It
3913-494: The autonomy of schools in the Oregon University System . On September 27, 2013, Knight announced to the audience at the OHSU Knight Cancer Institute's biennial gala, when he announced his intention to donate US$ 500 million for research if OHSU could match it over the subsequent two years. On June 25, 2015, OHSU met that $ 500 million goal, and Knight announced his upcoming $ 500 million donation, to bring
4004-470: The building of the Nike brand, from importing Japanese shoes to being part of a federal investigation. As of July 2021, Knight has a net worth of $ 60.8 billion. In 1990, Knight founded the Philip H. Knight Charitable Foundation Trust. As of 2016, according to Portland Business Journal , "Knight is the most generous philanthropist in Oregon history. His lifetime gifts now approach $ 2 billion." In 2023, Knight
4095-476: The company on June 30, 2016. In a company public announcement on March 15, 2018, Nike CEO Mark Parker said Trevor Edwards, a top Nike executive who was seen as a potential successor to the chief executive, was relinquishing his position as Nike's brand president and would retire in August. In October 2019, John Donahoe was announced as the next CEO, and succeeded Parker on January 13, 2020. In November 2019,
4186-465: The company operates retail stores under the Niketown name. Nike sponsors many high-profile athletes and sports teams around the world, with the highly recognized trademarks of " Just Do It " and the Swoosh logo. As of 2024, it employed 83,700 people worldwide. In 2020, the brand alone was valued in excess of $ 32 billion, making it the most valuable brand among sports businesses. Previously, in 2017,
4277-693: The company stopped selling directly through Amazon , focusing more on direct relationships with customers. Nike has acquired and sold several apparel and footwear companies over the course of its history. Its first acquisition was the upscale footwear company Cole Haan in 1988, followed by the purchase of Bauer Hockey in 1994. In 2002, Nike bought surf apparel company Hurley International from founder Bob Hurley. In 2003, Nike paid US$ 309 million to acquire sneaker company Converse . The company acquired Starter in 2004 and soccer uniform maker Umbro in 2007. In order to refocus its business lines, Nike began divesting itself of some of its subsidiaries in
4368-423: The company's board with the cooperation of Nike executives. In late 2003, Knight appointed his son to the board and, after Vinton had stepped down—prior to leaving the company with a severance package—Knight rebranded the company Laika . He then invested $ 180 million into Laika, and the studio released its first feature film, Coraline , in stop motion , in 2009. Coraline was a financial success and Travis Knight
4459-720: The company's chairman, with president and CEO Mark Parker to succeed him. Knight's retirement from the Nike board took effect at the end of June 2016. In September 2017, Knight decided to come out of retirement to put black back in the UNC jerseys for the Phil Knight Classic in Portland, Oregon. Knight's memoir, Shoe Dog , was released on April 26, 2016, by Simon & Schuster , was rated fifth on The New York Times Best Seller list for business books in July 2018, and details
4550-680: The company's standards for worker treatment. A July 2011 Associated Press article stated that employees at the company's plants in Indonesia reported constant abuse from supervisors. During the 1990s, Nike faced criticism for the use of child labor in Cambodia and Pakistan in factories it contracted to manufacture soccer balls. Although Nike took action to curb or at least reduce the practice, they continue to contract their production to companies that operate in areas where inadequate regulation and monitoring make it hard to ensure that child labor
4641-474: The earliest known use of the word "businesswoman" in 1827. The newest kind of corporate executive working under a business magnate is the manager. One of the first true founders of the management profession was Robert Owen (1771–1858). He was also a business magnate in Scotland. He studied the "problems of productivity and motivation ", and was followed by Frederick Winslow Taylor (1856–1915), who
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#17327866383824732-421: The firm "Nike," named after the Greek winged goddess of victory , and Blue Ribbon Sports was subsequently renamed Nike in 1971. Nike's " swoosh " logo, now considered one of the most valuable logos in the world, was commissioned for $ 35 from graphic design student Carolyn Davidson in 1971. According to Nike's website, Knight said at the time: "I don't love it, but it will grow on me." In September 1983, Davidson
4823-448: The goal to increase productivity of the private establishments business magnates own. Salaries for businesspeople vary. The salaries of businesspeople can be as high as billions of dollars per year. For example, the owner of Microsoft , Bill Gates makes $ 4 billion per year. The high salaries which businesspeople earn have often been a source of criticism from many who believe they are paid excessively. An entrepreneur
4914-887: The last words spoken by Gary Gilmore before he was executed. Nike manufactured its first uniforms for a professional sports team in 1979 when its jersey for the Portland Timbers of the North American Soccer League debuted. Throughout the 1980s, Nike expanded its product line to encompass many sports and regions throughout the world. In 1990, Nike moved into its eight-building World Headquarters campus in Beaverton, Oregon. The first Nike retail store, dubbed Niketown, opened in downtown Portland in November of that year. Phil Knight announced in mid-2015 that he would step down as chairman of Nike in 2016. He officially stepped down from all duties with
5005-413: The late 1990s, Will Vinton Studios animation company sought external investors due to rapid growth. Knight assumed a 15 percent stake in the company in 1998, and his son Travis —who had graduated from Portland State following an unsuccessful attempt at a rap music career—went to work at the studio as an animator. Citing mismanagement, Knight eventually purchased Will Vinton Studios and assumed control of
5096-474: The latter attempted a takeover of BRS by extending an ultimatum proposal that would give the Japanese company 51 percent of BRS. In 1972, the relationship between BRS and Onitsuka Tiger came to an end. BRS prepared to launch its own line of footwear. The previous year, it was already able to place from two Japanese shoe manufacturers the company's first independent order for 20,000, which included 6,000 that had
5187-585: The merchant class" came as Europe "needed a middleman" for the first time, and these "burghers" or " bourgeois " were the people who played this role. Europe became the dominant global commercial power in the 16th century, and as Europeans developed new tools for business, new types of "business people" began to use those tools. In this period, Europe developed and used paper money , cheques , and joint-stock companies (and their shares of capital stock ). Developments in actuarial science and underwriting led to insurance. Together, these new tools were used by
5278-588: The previous fiscal cycle. Nike's shares traded at over $ 72 per share, and its market capitalization was valued at over US$ 114.5 billion in October 2018. In February 2020, the company said that roughly 75% of Nike stores in Greater China had closed due to the COVID-19 outbreak. In March 2020, Nike reported a 5% drop in Chinese sales associated with stores' closure. It was the first decrease in six years. At
5369-537: The project directly, he established a $ 100 million "Athletic Legacy Fund." The fund supports the athletic department. Named after Knight's deceased son, the venue replaced the McArthur Court building and cost over US$ 200 million to build. The facility was built using bonds backed by the State of Oregon. Knight was responsible for financing the UO's US$ 68 million 145,000 square-foot gridiron football facility that
5460-418: The renovation of Hayward Field , a track and field stadium at the university. The project was estimated to cost $ 270 million, although Knight's total contribution remained private. Knight's contributions to the athletic department at UO have also led to controversy. In April 2000, student leaders began organizing an anti-sweatshop and fair labor practices campaign, and called for Dave Frohnmayer, president of
5551-589: The renovation of the Knight Library and construction of the Knight Law Center. Contrary to press reports, which claim that Knight financed the whole library renovation project, Knight only financed a portion of the library's renovation. Knight also established endowed chairs across the campus. In the fall of 2016, it was announced that Knight will donate $ 500 million to UO for a new three-building laboratory and research science complex. This donation
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#17327866383825642-582: The rival Oregonian , where he worked the morning shift tabulating sports scores and every morning ran home the full seven miles." Knight continued his education at the University of Oregon in Eugene , where he ran for the famed Oregon track and field program, was a sports reporter for the Oregon Daily Emerald and was a member of Phi Gamma Delta fraternity. Knight earned a business degree (B.B.A.) in 1959 in just three years. That same year, Knight also received his Army Reserve Commission and
5733-507: The same time, the company's online sales grew by 36% during Q1 of 2020. Also, the sales of personal training apps grew by 80% in China. Nike produces a wide range of sports equipment and apparel. Their first products were track running shoes. Nike Air Max is a line of shoes first released by Nike, Inc. in 1987. Additional product lines were introduced later, such as Air Huarache, which debuted in 1992. The most recent additions to their line are
5824-649: The school, to support the Workers Rights Consortium (WRC). On April 4, 2000, students began a sit-in at Johnson Hall, the UO's administrative center. In early April, an open meeting of students further demanded that the organization Fair Labor Association (FLA) would receive no consideration from the university, as it was perceived as a group founded, funded and backed by Nike and other corporations, and had also been criticized by worker rights advocates as an exercise in dishonest public relations. University President Dave Frohnmayer subsequently signed
5915-666: The shoes featured in Back to the Future Part II , it had a preliminary limited release, only available by auction with all proceeds going to the Michael J. Fox Foundation . This was done again in 2016. Nike have introduced a premium line, focused more on streetwear than sports wear called NikeLab. In March 2017, Nike announced its launch of a plus-size clothing line, which will feature new sizes 1X through 3X on more than 200 products. Another significant development at this time
6006-462: The sole plus a moisture wicking upper weave. Later, Nike Elite socks became available in bright colors inspired by throwback basketball uniforms , often with contrasting bold abstract designs, images of celebrities, and freehand digital print to capitalise upon the emerging nostalgia for 1990s fashion . In 2015, a new self-lacing shoe was introduced. Called the Nike Mag , which are replicas of
6097-419: The term 'entrepreneur' may be used as a (self-)promoting euphemism for 'businessperson', or it may serve to objectively indicate particular passion and risk-taking in a business field. Still, the distinction is only one by degrees. Blue Ribbon Sports Nike, Inc. (stylized as NIKE ) is an American athletic footwear and apparel corporation headquartered near Beaverton, Oregon , United States. It
6188-596: The total to $ 1 billion raised. Knight and wife Penny also donated to the Marylhurst Knights Opportunity Scholarship Program at Marylhurst University , a private Roman Catholic university in Marylhurst, Oregon ; as a result, the university named a lawn on their campus "Knight's Green" in the family's honor. In December 2016, Knight disclosed that he had donated $ 112 million in Nike stock to charity. In 2000, Knight
6279-422: The unisex spandex Nike Tempo compression shorts worn for cycling and running, which had a mesh lining, waterproofing, and, later in the 2000s, a zip pocket for a Walkman or MP3 player . From the late 2000s into the 2010s, Nike Elite basketball socks began to be worn as everyday clothes by hip-hop fans and young children. Originally plain white or black, these socks had special shock absorbing cushioning in
6370-569: The use of kangaroo leather." The Nike Vaporfly first came out in 2017 and their popularity, along with its performance, prompted a new series of running shoes. The Vaporfly series has a new technological composition that has revolutionized long-distance running since studies have shown that these shoes can improve marathon race time up to 4.2%. The composition of the sole contains a foamy material, Pebax, that Nike has altered and now calls it ZoomX (which can be found in other Nike products as well). Pebax foam can also be found in airplane insulation and
6461-456: The waffle iron idea came into play. Bowerman's design led to the introduction of the "Moon Shoe" in 1972, so named because the waffle tread was said to resemble the footprints left by astronauts on the Moon. Further refinement resulted in the "Waffle Trainer" in 1974, which helped fuel the explosive growth of Blue Ribbon Sports/Nike. Tension between BRS and Onitsuka Tiger increased in 1971 as
6552-478: The western United States. The first Tiger samples would take more than a year to be shipped to Knight; during that time he found a job as an accountant in Portland. When Knight finally received the shoe samples, he mailed two pairs to Bowerman at the University of Oregon, hoping to gain both a sale and an influential endorsement. To Knight's surprise, Bowerman not only ordered the Tiger shoes, but also offered to become
6643-563: The world after graduation, during which he made a stop in Kobe, Japan , in November 1962. It was there that he discovered Tiger brand running shoes, manufactured in Kobe by the Onitsuka Co. , now known as Asics . Impressed by the quality and low cost of the shoes, Knight called Mr. Onitsuka, who agreed to meet with him. By the end of the meeting, Knight had secured Tiger distribution rights for
6734-566: Was Miles Nadal , a Canadian investor and car collector, who had just paid $ 850,000 for a group of 99 rare of limited collection pairs of sport shoes. The purchase price was the highest for one pair of sneakers, the previous record being $ 190,373 in 2017 for a pair of signed Converse shoes in California, said to have been worn by Michael Jordan during the 1984 basketball final of the Olympics that year. After acquiring RTFKT, Nike launched
6825-576: Was William Perez , former CEO of S.C. Johnson & Son , Inc., who was eventually replaced by Mark Parker in 2006. In 2011, the Matthew Knight Arena at the University of Oregon was named in his honor. During the 2009–2010 period, Knight was the largest single contributor to the campaign to defeat Oregon Ballot Measures 66 and 67 , which, once passed, increased income tax on some corporations and high-income individuals. In June 2015, Knight and Nike announced that he would step down as
6916-424: Was America's second largest donor with $ 1.2 billion in giving. In 2006, Knight donated US$ 105 million to the Stanford Graduate School of Business , which, at the time, was the largest ever individual donation to a U.S. business school. The campus was named "The Knight Management Center," in honor of Knight's philanthropic service to the school. In 2016, it was announced that Knight contributed $ 400 million to start
7007-419: Was Knight's success in lobbying for former insurance executive Pat Kilkenny to be named as athletic director at the university. Kilkenny had neither a college degree nor any prior experience in athletics administration. He attended but did not graduate from UO, as he left the school with several credit hours still owing. Prior to his appointment at UO, Kilkenny had been the chairman and chief executive officer of
7098-421: Was a " Distinguished Military Graduate " . As a middle-distance runner at Oregon, his personal best was 1 mile (1.6 km) in 4 minutes, 13 seconds, and he won varsity letters for his track performances in 1957, 1958, and 1959. In 1977, together with Bowerman and Geoff Hollister, Knight founded an American running team called Athletics West . Before Blue Ribbon Sports—later Nike—flourished, Knight worked as
7189-494: Was agency co-founder Dan Wieden who coined the now-famous slogan " Just Do It " for a 1988 Nike ad campaign, which was chosen by Advertising Age as one of the top five ad slogans of the 20th century and enshrined in the Smithsonian Institution . Walt Stack was featured in Nike's first "Just Do It" advertisement, which debuted on July 1, 1988. Wieden credits the inspiration for the slogan to "Let's do it",
7280-777: Was announced that Knight and his wife would be donating $ 19.2 million towards a new sports complex project at the University of Oregon. The plans for the 29,000 square foot complex was announced in September. Construction started in January 2016 and ended in September 2016. The sports complex was named the Marcus Mariota Sports Performance Center and includes motion capture systems, neurocognitive assessment tools, 40-yard dash track, and steam machines made by Nike to help athletes break into their footwear more quickly. In 2021, Knight helped to fund
7371-506: Was born on February 24, 1938, in Portland, Oregon , to Bill Knight , a lawyer turned newspaper publisher, and his wife, Lota Cloy (née Hatfield) Knight. He grew up in the Portland neighborhood of Eastmoreland , and attended Cleveland High School . According to one source, "When his father refused to give him a summer job at his newspaper [the now defunct Oregon Journal ], believing that his son should find work on his own," Knight "went to
7462-555: Was formally inducted on September 7, 2012. In 1989, Knight received the Golden Plate Award of the American Academy of Achievement . For his "contributions to business, corporate and philanthropic leadership", Knight was elected to the 2015 American Academy of Arts and Sciences membership class. In 2020, the university polled alumni and fans on social media, asking them which four UO alumni they would place on
7553-460: Was given an undisclosed amount of Nike stock for her contribution to the company's brand. On the Oprah television program in April 2011, Knight claimed he gave Davidson "a few hundred shares" when the company went public. At Nike, Knight developed personal relationships with some of the world's most recognizable athletes, including Michael Jordan and Tiger Woods . Following mainstream success in
7644-643: Was inducted into the Oregon Sports Hall of Fame for his Special Contribution to Sports in Oregon. At the time of his induction, he had contributed approximately US$ 230 million to UO, the majority of which was for athletics. On February 24, 2012, Knight was announced as a 2012 inductee of the Naismith Memorial Basketball Hall of Fame , as a contributor . The Hall recognized him as the driving force behind Nike's huge financial support of U.S. basketball and its players. Knight
7735-516: Was needed—for tax purposes the subsidiary was treated as Bermuda. Its profits were not declared in Europe and came to light only because of a mostly unrelated case in US Tax Court, where papers filed by Nike briefly mention royalties in 2010, 2011 and 2012 totaling $ 3.86 billion. Under an arrangement with Dutch authorities, the tax break was to expire in 2014, so another reorganization transferred
7826-417: Was officially opened in late July 2013. Knight's personal locker in the team's locker room displays the title "Uncle Phil", and other features include a gym with Brazilian hardwood floors, Apple iPhone chargers in each of the players' lockers, various auditoriums and meeting rooms, a games room for the players that includes flat-screen televisions and foosball machines, and a cafeteria. In November 2015, it
7917-558: Was part of a series of large higher-education gifts. Knight contributed towards the Moshofsky Center, which opened in 1998. In August 2007, Knight announced that he and his wife would be donating US$ 100 million to found the UO Athletics Legacy Fund to help support all athletic programs at the university. In response, athletic director Pat Kilkenny said: "This extraordinary gift will set Oregon athletics on
8008-509: Was the Chuck Taylor All-Star Modern , an update of the classic basketball sneaker that incorporated the circular knit upper and cushioned foam sole of Nike's Air Jordans. On July 23, 2019, a pair of Nike Inc. running shoes sold for $ 437,500 at a Sotheby's auction. The so-called "Moon Shoes" were designed by Nike co-founder and track coach Bill Bowerman for runners participating in the 1972 Olympics trials. The buyer
8099-521: Was the first person who studied work with the motive to train his staff in the field of management to make them efficient managers capable of managing his business. After World War I , management became popular due to the example of Herbert Hoover and the Harvard Business School , which offered degrees in business administration (management) with the motive to develop efficient managers so that business magnates could hire them with
8190-684: Was the first. I don't care what all the billionaires say. Bill Bowerman made the first pair of shoes for me. People don't believe me. In fact, I didn't like the way they felt on my feet. There was no support and they were too tight. But I saw Bowerman made them from the waffle iron , and they were mine". In its first year in business, BRS sold 1,300 pairs of Japanese running shoes grossing $ 8,000. By 1965, sales had reached $ 20,000. In 1966, BRS opened its first retail store at 3107 Pico Boulevard in Santa Monica, California . In 1967, due to increasing sales, BRS expanded retail and distribution operations on
8281-531: Was then promoted into the roles of Laika CEO and president. In May 2004, two years after Knight bought Vinton, his son Matthew, aged 34 years, traveled to El Salvador to film a fund-raising video for Christian Children of the World, a Portland nonprofit organization . However, while scuba diving with his colleagues Vincenzo Iannuzzelli and Robert McDonell in Lake Ilopango , near San Salvador , he died from
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