Phil Knight’s Record $2 Billion Gift Will Fund Cancer Care and Research in Nike’s Portland Community

Phil Knight is no stranger to giving back — and the Nike co-founder’s latest move cements his status as one of the most powerful philanthropists in the world.

On Thursday, the Oregon Health & Science University disclosed that Knight and his wife Penny donated $2 billion to the University’s Knight Cancer Institute to help it expand its ability to treat patients and fund research. It’s the largest-ever gift to a university.

“We are grateful for the opportunity to invest in the next stage of the Druker-led revolutionary vision of cancer research, diagnosis, treatment, care, and some day, eradication,” said the institute in a statement. “We couldn’t be more excited about the transformational potential of this work for humanity. We are confident that establishing the Knight Cancer Institute as a self-governed entity within OHSU will help the Knight and OHSU reach these goals.”

The Knights have made prior donations to the Center, a $100 million gift in 2008 followed by one for $500 million in 2013. The two are philanthropists in the Oregon community, donating to the University and the University of Oregon, among other public universities in the state.

Knight, 87, grew up in Oregon and co-founded Nike. He went on to build the brand into the world’s biggest athletic footwear and apparel firm. Knight remains the company’s largest individual shareholder.

A number of footwear firms and individuals have deepened their commitments to charitable efforrts this year.

Last month, Two Ten revealed that the New Balance Foundation will give an annual contribution of $350,000 from 2025 through 2028 for total donation of nearly $1.1 million to the Two Ten Foundation. The donation will assist with disaster and hardship relief, and well as professional development and community-building. The New Balance Foundation was established in 1981 by Jim and Anne Davis. It has been a support of Two Ten for 30 years, donating $4.67 million to date. The Foundation has donated more than $150 million, with $12.4 million contributed in 2024.

Over the years, footwear brands from all parts of the industry have found unique ways to show their charitable side.

And last year Christian Louboutin reunited with actor Idris Elba and his wife Sabrina for the third edition of their “Walk a Mile in My Shoes,” or WAMIMS, capsule collection. The initiative thus far has raised $2 million in just two years, with profits donated to six organizations that support social equality and foster young people’s creative development.

And over the years, the Kenneth Cole Productions Foundation has been active in donations to address AIDS research, homelessness, equality and mental health.