Nike Chief Pledges Big Gift to Stanford
Philip H. Knight, founder and chairman of Nike Inc., has pledged $105 million to help build a new campus for Stanford University’s Graduate School of Business. It is the largest single donation to a U.S. business school, according to an accreditation agency.
The eight-building, 340,000-square-foot complex will be called the Knight Management Center, Stanford said in a statement. Knight’s gift will finance $100 million of the project’s $275-million cost. The campus will include a 450-seat auditorium, classrooms, study rooms, dining areas and offices. About $5 million of Knight’s gift will be used for faculty endowments.
“This really makes it possible for us to put our academic vision in place,” Business School Dean Robert Joss said in a telephone interview Tuesday. “This is a very defining moment because we have a new curriculum in place, and this new campus makes all of that possible.”
Previously, the largest single gift to a business school was a $100-million donation in 2004 by New York real estate developer Stephen Ross to his alma mater, the University of Michigan, for the Ross School of Business, said Joshua Sprunger, a spokesman for the Center on Philanthropy at Indiana University.
Knight, 68, earned a master of business administration degree from the Northern California school in 1962. According to Forbes magazine, he is ranked the 70th richest person in the world with a net worth of $7.3 billion.
“Stanford Business School was an important part of my life,” Knight said in the statement. “This is a once-in-a-lifetime chance to give back to the school and help it continue to push the boundaries of excellence in management education.”
Knight started Beaverton, Ore.-based Nike in 1972 selling sneakers from his car. He pioneered the use of sports celebrities, such as basketball star Michael Jordan, to plug the shoes, known for their swoosh logo and “Just Do It” slogan.
Knight has made several donations to the business school, including funding for the Knight Building.
