Nike founder and Chairman Phil Knight made donation to Stanford University
Nike founder and Chairman Phil Knight made the headlines with a 400 million Dollars
donation to Stanford University, according to The Wall Street Journal one of the largest
philanthropic gifts to a university and the latest move by the billionaire to solidify his legacy beyond sportswear. His gift will help fund the Knight-Hennessy Scholars, a graduate-level program named for the Nike founder as well as departing Stanford president John Hennessy.
The program will offer full tuition and living expenses to 100 new students annually, beginning with the 2018-2019 academic year, according to the university. Phil Knight’s pledge is the largest single cash donation to Stanford, according to the school, which had an endowment of 22 billion Dollars as of August. It matches the 400 million Dollars gift that hedge-fund manager John Paulson made to Harvard University last year. Knight, who turned 78 on Wednesday, is one of Nike’s largest shareholders; the Forbes magazine estimates his net worth at 25 billion US$.”
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