Phil Knight, the shoe manufacturing industry king, holds a hefty net worth but is considered empty inside. Phil is declared 41st richest person in the world at the age of 83. He is the co-founder and the Ex-CEO of Nike. He is also the owner of a production company Laika. Phil was an athlete himself, so he had the perfect idea of what an athlete needs for a smooth run. So he and his college fellows laid the foundation of a running team named Athletic West. He finished his higher studies at Stanford Graduate School of Business. Then, he practiced as an athlete at the University of Oregon, under the supervision of his mentor Bill Bowerman, with whom he would co-found Nike.
Shortly after graduating from the University of Oregon, Phil volunteered in the army and served his nation for one year on active duty and seven years in the Army Reserve. He next joined Stanford Graduate School of Business. Phil produced a paper, “Can Japanese Sports Shoes Do to German Sports Shoes What Japanese Cameras Did to German Cameras?”, which essentially premised his eventual foray into selling running shoes for his small trading class.
His purpose was to import high-quality and low-cost operating shoes from Japan into the American market. He completed his master’s degree in business management from Stanford in 1962.
How Did Phil Knight Become A Business Tycoon And Shoe Manufacturing King?
The first Tiger units would take more than a year to be exported to Knight. During that time, he was offered a job as an analyst in Portland. When Knight finally accepted the shoe samples, he mailed two pairs to Bowerman at the University of Oregon, expecting to gain both a sale and an influential endorsement. To Phil’s surprise, Bowerman placed an order of the Tiger shoes and offered to become a partner with Phil and provide product design ideas. The two men admitted to a partnership by handshake on January 25, 1964, the birth date of Blue Ribbon Sports, which would later become Nike.
Knight’s first deals were made out of a now storied green Plymouth Valiant automobile at track meets across the Pacific Northwest. By 1969, these early sales enabled Knight to leave his accountant job and work full-time for Blue Ribbon Sports. Jeff Johnson, Nike’s first employee, recommended calling the firm “Nike,” named after the Greek flying goddess of victory, and Blue Ribbon Sports has consequently renamed Nike in 1978.
Nike’s “swoosh” logo, now deemed one of the most expensive logos globally, was approved for $35 by graphic design undergraduate Carolyn Davidson in 1971. According to Nike’s website, Phil said in one of his interviews: “he didn’t love it, but it will develop on him.” In 1983, Davidson was given an undisclosed sum of Nike stock to offer to the company’s brand. In 2011 the Oprah television program, Knight declared he gave Davidson “a few hundred shares” when the business went public.
Phil Knight’s Production House “Laik”
In the 1990s, Phil invested in another successful production business. Initially, Phil had 15% stocks in Will Vinton productions, but later, he purchased the company due to mismanagement and malfunction. Phil and his son Travis both ran the company collectively. After Phil purchased the production house, he renamed it Laik. In 2204 when Phil’s other son Matthew went downtown for the filming of a charity video.
On the way, he and his friends decided to go scuba diving. But unfortunately, while Matthew was underwater, he had a heart attack, and he couldn’t survive it. The very same year, Phil resigned his position as the CEO of Nike. Phil wrote in his memoir that he might be rich and successful. But without his son Matthew he is empty inside.
Phil Knight Net Worth
Phill Knight is worth 50 Billion Dollars. He is one of the top 50 rich people in the world. He owns two leading businesses and owns royalties to the two best-selling books to date. The estimated salary of Phil is 2 Million dollars. The revenue generated from Nike itself is 150 Billion dollars. He donated 500 million dollars to the Stanford Business School to fund the dreams of all the young entrepreneurs fulfill their dreams.
Phil had the ability to make a valuable addition to turning his 500 Thunder dollar investment into a Billion dollar company. He is not only a billionaire. But he is also a philanthropist. He donates money to make other’s dreams come true. He owns a 65 million dollar private jet and $12 Billion of property. Phil Knight is king, rich. But anything more important than a billion dollars is the company Nike he created.