Nike co-founder Phil Knight and his wife Penny have announced a landmark $2 billion donation to the Knight Cancer Institute at Oregon Health and Science University (OHSU)—the single largest gift ever made to an American university, college, or health institution.
The donation is set to dramatically accelerate cancer research and treatment innovation, with the potential to reshape how the world approaches the disease.
According to the Knight Foundation, the funding will directly support breakthroughs in patient care, cancer diagnosis, and therapy development, with a bold vision: not just to treat cancer, but to eradicate it.
At the heart of the initiative is a continued partnership with world-renowned cancer researcher Dr. Brian Druker. Over a decade ago, Druker and the OHSU team set an ambitious goal to raise $500 million for cancer research, with the Knights stepping in to match dollar for dollar. Today’s gift expands on that commitment in a monumental way.
“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 someday, eradication,” said Phil and Penny Knight in a joint statement. “We couldn’t be more excited about the transformational potential of this work for humanity.”
From Start-Up Sneaker Sales to Global Impact
Knight, who founded what would become Nike in 1964—originally named Blue Ribbon Sports—built the company from humble beginnings, famously selling running shoes out of the trunk of his car. His story, detailed in his memoir Shoe Dog, chronicles the evolution of Nike into a global powerhouse.
After Nike went public in 1980, the company soared to become the world’s most recognizable athletic brand, with stock increasing more than 30,000% during Knight’s leadership tenure. Though shares have stumbled in recent years—down more than 50% since their 2021 peak—Nike remains the most valuable company in the athletic footwear sector, with a market capitalization exceeding $110 billion.
A Legacy of Giving
Philanthropy has become a major focus for the Knights. As of May, Time Magazine estimated their lifetime charitable contributions at $3.6 billion, with $370 million donated in 2024 alone. The latest tax filings from the Knight Foundation show over $5 billion in assets held at the end of 2023.
This latest $2 billion gift cements the couple’s place among the world’s most impactful philanthropists—and reinforces their belief in science-led solutions to global health challenges.
“I wanted to build something that was my own, something I could point to and say: I made that,” Knight wrote in his memoir. “It was the only way I saw to make life meaningful.”
With this unprecedented donation, the Knights are hoping to help others find more life—by helping cure the disease that touches so many.
