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Nike Co-Founder Phil Knight Donating Fortune to Charity

October 10, 2018

Nike co-founder Phil Knight is presented with a plaque during the first half of an NCAA college basketball game between Duke and Florida in the Phil Knight Invitational tournament in Portland, Ore., Sunday, Nov. 26, 2017. (AP Photo/Craig Mitchelldyer)

Nike co-founder Phil Knight is presented with a plaque during the first half of an NCAA college basketball game between Duke and Florida in the Phil Knight Invitational tournament in Portland, Ore., Sunday, Nov. 26, 2017. (AP Photo/Craig Mitchelldyer)

Nike co-founder and chairman emeritus Phil Knight has reportedly donated 12 million shares of Nike stock to a nonprofit organization that he and his wife sit on the board of. The shares are currently worth $80 giving the total worth of the donation around $960 million. Phil Knight, 80, has iterated in the past that he seeks to give away most of his fortune to charity which now stands at $31 billion.

The donation brings Knight’s philanthropic total to around $1.7 billion this year, adding to a $700 million gift in July, which was apparently made to the Knight Foundation, a charitable organization he controls. The most recent filing likewise doesn’t specifically name the entity that received the gift of 12 million Nike shares, but it does report that both the founder and his wife, Penelope Knight, are directors.

Original article source: http://aurn.com/nike-co-founder-phil-knight-donating-fortune-to-charity/ | Article may or may not reflect the views of KLEK 102.5 FM or The Voice of Arkansas Minority Advocacy Council

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