Nike co-founder Phil Knight funneled 7,250,000 shares of Nike Class B stock, valued at $900.7 million, into an unnamed charity late last month, according to an SEC document filed yesterday. A spokesman for Knight confirmed the donation was given to the Knight Foundation, which he and his wife, Penelope, established in 1997.
The Beaverton, Ore., foundation’s assets stood at slightly more than $2 billion at the end of 2018, according to the foundation’s most recent tax filing, and it awarded about $40 million in grants that year. Knight added nearly $50 million to the grant maker in 2019.
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