Nike co-founder and chairman Phil Knight has donated $400 million to Stanford University, the school announced Tuesday.
The donation will be put toward the Knight-Hennessy Scholars Program, named for Knight and outgoing Stanford president John L. Hennessy, and will benefit 100 students pursuing professional programs, graduate, masters and doctorate degrees.
“John and I dream of a future 20, 30 or 50 years from now, when thousands of graduates—who can think outside the box as skilled problem-solvers—will be working together for a more peaceful, habitable world,” Knight said in a statement.
Knight, who graduated from Stanford with an MBA in 1962, is reportedly worth $25.4 billion.
His donation, which ties Harvard’s John Paulson’s for the largest ever granted to a university, now raises the program’s endowment to $750 million.