Phil Knight Gives Nike Shares Worth $990 Million to Charity

Phil Knight Gives Nike Shares Worth $990 Million to Charity

Nike co-founder Phil Knight has donated shares of the sports apparel and equipment company worth $990 million to a charitable organization, Bloomberg reports.

According to a regulatory filing, Knight donated twelve million Nike shares last week to an unnamed organization of which he and his wife, Penny, are directors. According to the Bloomberg Billionaires Index, a ranking of the world's five hundred richest people, the gift represents 3.1 percent of Knight's $32 billion fortune.

The Knights previously had pledged $500 million to the University of Oregon, $400 million to Stanford University, and $500 million to Oregon Health & Science University's Knight Cancer Institute. In the most recent Forbes 400 list, which included a "philanthropy score," Knight and his family received a score of 4 out of 5.

(Photo credit: University of Oregon)