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Phil Knight Gives Nearly $1 Billion Worth of Nike Stock to Charity He Controls

Nike co-founder and chairman emeritus previously said he'll give away most of his fortune.

Nike co-founder and chairman emeritus Phil Knight last week gave 12 million Nike shares to a nonprofit on whose board he and his wife sit, according to filings with the federal Securities and Exchange Commission.

With Nike's stock hovering around $80 per share, the gift is worth $960 million.

The SEC filing did not name the nonprofit that received the donation, but Knight has previously channeled charitable activities through the Knight Foundation, of which he and his wife, Penelope Knight, are directors.

That foundation in the past has made large contributions to Knight's alma maters, the University of Oregon and Stanford University, and to Oregon Health & Science University.

In 2016, Knight who is now 80, told CBS he planned to give most of his fortune, which Bloomberg pegs at $31 billion, to charity. Bloomberg first reported Knight's latest gift.

Knight has been in the news recently for his support of state Rep. Knute Buehler (R-Bend), the GOP candidate for governor in Oregon, whom he has given $1.5 million in the current election cycle.