How Nike's Co-Founder Made $1.9 Billion In A Day
There's a whole lot of money to be made from sneakers. But you'd have to sell a pair of $20,000 diamond-encrusted Nike Dunk Questloves every day for 950,000 days to be up around the mark we're talking...
Last week, Nike shareholders had a whole lot of reason to smile when the company not only revealed fourth-quarter earnings that exceeded the expectations of Wall Street veterans, but also confirmed rumours that the world's biggest sportswear brand was joining forces with Amazon to sell footwear, apparel and other Swoosh-branded accessories directly through the online retail behemoth. The announcements caused stock prices to leap nearly 11 per cent less than 24 hours later.
While every shareholder was elated with the news, none benefitted more than Nike co-founder Phil Knight. Despite having stepped down as chairman in June last year, Knight remains the brand's biggest shareholder. According to Forbes, the announcement caused his net worth to skyrocket $1.9 billion. So what's the Shoe Dog worth now? Hold onto your hats... $26.6 billion!
Next time you hear 'Don't quit your day job,' think of Knight's pre-Nike life as an accountant and his current status as 29th richest person in the world, lace up your Air Zoom Mariah Flyknit Racers and chase that crazy dream!