Nike co-founder donates $400 million to Stanford

Wednesday February 24th, 2016

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.

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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.

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