How Phil Knight Grew Nike Into A Multibillion-Dollar Company And Became A Billionaire In The Process

On January 25, 1964, Phil Knight and William Bowerman founded Blue Ribbon Sports, a running shoe business that would be rebranded in 1971 as Nike. The company, of course, is now a juggernaut, with $51 billion in revenue in its last fiscal year, a market cap of $154 billion and a globally dominant position in the footwear market. Beginning with John McEnroe in 1978, athletes like Michael Jordan and Tiger Woods have made the brand synonymous with success on and off the field. Knight has seen his net worth rise to an estimated $40 billion and landed at No. 18 on 2023’s Forbes 400 ranking of the wealthiest Americans. Read the full story on Forbes: Subscribe to FORBES: Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more: Stay Connected Forbes newsletters: Forbes on Facebook: Forbes Video on Twitter: Forbes Video on Instagram: More From Forbes: Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.