Nike Co-Founder Phil Knight Donates $2 Billion to Oregon Health and Science University's Knight Cancer Institute

Nike co-founder Phil Knight is donating $2 billion to the Oregon Health and Science University's Knight Cancer Institute, the single largest donation to an American university or health institution. The donation will fund cancer research, treatment, and patient care. Knight, age 87, has amassed a fortune estimated at $35 billion through his work at Nike and is known for his philanthropy, with lifetime giving estimated at $3.6 billion.

Phil Knight, the co-founder of Nike, has made a significant philanthropic gesture by donating $2 billion to the Oregon Health and Science University's Knight Cancer Institute. This donation, announced on Thursday, August 14, 2025, is the single largest donation ever made to a U.S. university, college, or health institution [1].

The Knight Foundation, which is administering the donation, has stated that the funds will be used to shift the scientific approach to cancer treatment, research, and patient care outcomes. As part of the gift, the Knights will partner with Dr. Brian Druker, a renowned cancer research pioneer who has been instrumental in advancing cancer treatment at the institute [1].

Knight's donation builds upon his family's longstanding support for cancer research. A decade ago, Dr. 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. The latest donation is a continuation of this commitment, with Phil and Penny Knight expressing their excitement about the transformational potential of the work for humanity [1].

Knight's philanthropic efforts are not limited to this donation. The Knights are known for their significant lifetime giving, with Time Magazine estimating their total donations at $3.6 billion, including $370 million gifted in 2024 alone. According to the Knight Foundation's latest tax documents, the foundation held more than $5 billion in assets at the end of 2023 [1].

Phil Knight's fortune stems from his success with Nike, which he founded in 1964. Originally called Blue Ribbon Sports, the company began as a humble operation with Knight selling sneakers out of the trunk of his car. Nike went public in December 1980 and quickly became the most dominant sneaker brand, partnered with some of the top athletes across sports. During Knight's tenure, Nike shares soared almost 30,500% [1].

Despite recent challenges, Nike remains the most valuable public company in athletic footwear, valued at more than $110 billion. The donation from Phil Knight underscores his commitment to using his wealth to drive meaningful change in the field of cancer research and treatment.

References:
[1] https://www.cnbc.com/2025/08/14/nike-phil-knight-ohsu-cancer-institute-donation.html
[2] https://www.cnbc.com/2025/08/14/nike-phil-knight-university-of-oregon-cancer-institute-donation.html