Nike Co-founder and his wife Penny pledge to give $400 million to uplift the black community in his native Portland.
Knight grew up in Portland, Oregon. He launched the shoe-giant company Nike from the city. The money will be given to the Rebuild Albina Project. A part of the new 1803 Fund, the project is a private investing and philanthropy fund that aims to help black Portlander improve their lives. The fund will make investments in education, infrastructure, culture, and belonging.
Knight and his wife have made generous contributions to the Portland community before as well. In 2008, the couple made a $100 million gift to Oregon Health & Science University to recruit top researchers in the field. In 2015, they donated $500 million to the Knight Cancer Challenge.
The announcement was made on Monday at Nike Head Quarters in Beaverton, Oregon.
