Wife of Phil Knight: Meet Penny Knight – Philip Hampson Knight is a well-known American businessman who is known as the co-founder and chairman emeritus of Nike, Inc.
Knight has made a significant impact on the business world and has been listed by Forbes as one of the world’s richest people.
As of October 3, 2022, his net worth is estimated at $35.2 billion, placing him 27th on the Forbes list of the world’s richest people.
In addition to his role at Nike, Knight also owns the stop-motion film production company Laika. A graduate of the University of Oregon and the Stanford Graduate School of Business, his journey to success in the business world began during his years at the University of Oregon, where he was a member of the club track and field under coach Bill Bowerman. He and Bowerman later co-founded Nike.
Knight was known for his generosity and philanthropy throughout his life. He has donated hundreds of millions of dollars to his alma mater, the University of Oregon and Stanford Graduate School of Business, as well as Oregon Health & Science University. In total, he has donated more than $2 billion to these three institutions, contributing significantly to their growth and development.
Before creating his company, he had a diverse professional background. He first worked as a certified public accountant (CPA) for two different firms, Coopers & Lybrand and Price Waterhouse. He later became a professor of accounting at Portland State University.
After completing his studies at the University of Oregon, Knight entered the Army and served one year on active duty and seven years in the Army Reserve. He then completed his master’s degree in business administration at the Stanford Graduate School of Business, where he wrote a thesis that foreshadowed his future entry into the athletic shoe industry.
On a trip around the world after graduation, Knight stopped in Kobe, Japan and discovered Tiger brand running shoes made by Onitsuka Co. Knight was impressed with the quality and price affordable footwear and secured distribution rights for the Western United States. He sent two pairs of shoes to his future business partner, Bill Bowerman, who was a coach at the University of Oregon. Bowerman not only ordered the shoes, but also offered Knight to become a business partner and help design the product. With a handshake on January 25, 1964, the two men founded Blue Ribbon Sports, which would later become Nike.
At first, Knight sold the shoes out of the trunk of his car at track and field events in the Pacific Northwest. By 1969, the company had grown enough that Knight quit his job as an accountant and worked full time for Blue Ribbon Sports. The company’s first employee, Jeff Johnson, suggested the name “Nike”, after the Greek goddess of victory, and Blue Ribbon Sports was officially renamed Nike in 1971.
Nike’s iconic “Swoosh” logo was designed by graphic design student Carolyn Davidson in 1971 for just $35. Knight came to like the logo, and in September 1983, Davidson received a significant amount of Nike stock for his contribution to the company’s brand. Over the years, Knight has developed personal relationships with some of the world’s most famous athletes, including Michael Jordan and Tiger Woods.
Phil Knight’s Wife: Meet Penny Knight
Phil Knight is married to Penelope “Penny” Knight and the two married in 1968. Penny is also a philanthropist herself and is actively involved in various charities and organizations. She is a member of the Oregon Community Foundation and serves on the boards of the Oregon Health & Science University Foundation and the Portland Art Museum.
Despite their success, Phil and Penny Knight have maintained a low profile and are known for their private and humble nature. Their unwavering commitment to giving back to the community and supporting the causes they believe in serves as an inspiration to others.