The Richest People In America: Philip Knight

#31 Philip Knight

$10.5 billion
Source: Nike (nyse: NKE - news - people )

Nike poobah jogging away from stake in company he cofounded 44 years ago; has sold $1 billion worth of stock since last August. Donated $100 million to U. of Oregon's athletic department last year; largest gift in school history. Oregon track star teamed up with coach to start shoe company 1964; today largest sports footwear, apparel company in the world. Sales: $18.6 billion. Nike shares up 45% since new chief exec, Mark Parker, took over in 2006. Organic growth becoming difficult; acquired English soccerwear firm Umbro for $565 million in March. Spent $3.4 billion last year-half of company's marketing budget-on top endorsers, including Tiger Woods, LeBron James, Derek Jeter. Push in China helped by Beijing Olympics; Nike outfitted 22 Chinese teams in effort to capitalize on development opportunity.

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