Phil Knight<\/p>\n
Matthew Staver | Bloomberg | Getty Images<\/p>\n
Nike<\/a> co-founder Phil Knight is donating $2 billion to the Oregon Health and Science University’s Knight Cancer Institute, the single largest donation ever to a U.S. university, college or health institution, according to the Knight Foundation.<\/p>\n The foundation said on Thursday the gift that will be used to shift the scientific approach to cancer treatment, research and patient care outcomes.<\/p>\n As part of the gift, the Knights will partner with cancer research pioneer Dr. Brian Druker.<\/p>\n A decade ago, Druker and OHSU took on a challenge to raise $500 million for cancer research, and the Knights signed on to match the raise dollar-for-dollar.<\/p>\n “We are grateful for the opportunity to invest in the next stage of the Druker-led revolutionary vision of cancer research, diagnosis, treatment, care, and some day, eradication,” Phil and Penny Knight said in a statement. “We couldn’t be more excited about the transformational potential of this work for humanity.”<\/p>\n Phil and Penny Knight with Dr. Brian Druker of the OHSU Knight Cancer Institute.<\/p>\n Courtesy of OHSU Knight Cancer Institute.<\/p>\n Knight’s fortune stems from his success with the swoosh, the company he founded in 1964.<\/p>\n Originally called Blue Ribbon Sports, the business began humbly, with Knight selling sneakers out of the trunk of his car, as he recounted in his 2016 memoir, “Shoe Dog.”<\/p>\n Get the CNBC Sport newsletter directly to your inbox<\/p>\n The CNBC Sport newsletter with Alex Sherman brings you the biggest news and exclusive interviews from the worlds of sports business and media, delivered weekly to your inbox.<\/p>\n Subscribe here to get access today<\/a>.<\/p>\n Nike went public in December 1980 and quickly became the most dominant sneaker brand, partnered with some of the top athletes across sport.<\/p>\n During Knight’s tenure at the public company, from its IPO to his June 2016 retirement, Nike shares soared almost 30,500%.<\/p>\n Although Nike stock has had a painful few years, down more than 50% from its peak in late 2021, it remains the most valuable public company in athletic footwear, valued at more than $110 billion.<\/p>\n The Knights are regularly found on lists of top philanthropists. In May, Time Magazine<\/a> estimated their lifetime giving at $3.6 billion, including $370 million gifted in 2024 alone.<\/p>\n