Nike Founder Phil Knight Donates $400 Million to Stanford

Mar 02, 2016, 13:09

Nike co-founder and chairman Phil Knight is donating $400 million to a scholarship program at Stanford University. The first part of the name honors Philip H. Knight, who earned his M.B.A. from Stanford, co-founded Nike Inc. and is giving $400 million for the program.

He is teaming up with the college's outgoing president, John L. Hennessy, for the Knight-Hennessy Scholars Program, Stanford announced Tuesday. Stanford has a total endowment of $22 billion, causing some to speculate that the donation is unnecessary, an example of wealthy largesse rather than a truly philanthropic exercise.

Oscars 2016: Spotlight beats The Revanant to take the best film prize
It is the most urgent threat facing our entire species, and we need to work collectively together and stop procrastinating... Roughly 40 million people in the United States watch the Oscars telecast each year.

While the Rhodes Scholarships admits 32 primarily American students annually for two years of study, the Knight-Hennessy Scholars will receive three years of full tuition and living expenses.

Fully endowed means the scholarships can be paid for by returns from the $750 investment pot, so Stanford will not have to raise funds for the programme each year.

US FDA steps in to cut Zika transmission risk through surgeries
All of the pregnant women are from Mexico's southern states: 8 from Chiapas, 2 from Oaxaca, and 1 from Veracruz. Zika virus, which is fast spreading through Latin American countries, has already been reported in ME and MA .

Knight's founding gift to the Knight-Hennessy Scholars endowment is the largest cash gift from an individual to Stanford. Hennessy will assume the position in September, after stepping down as president.

Mr Knight said the scholarships would create a new generation of "skilled problem-solvers". The program will tackle major world issues like poverty and climate change. Ranked among the top five in the world, Stanford's seven graduate and professional schools in which scholars will enroll include law; business; medicine; engineering; humanities and sciences; education; and Earth, energy and environmental sciences. The students will be nominated by their undergraduate institutions. According to the program's website, the scholars will participate in personal development programs, including the new King Global Leadership Program and "immersion study trips with access to thought leaders across the business, government and nonprofit sectors".

Temecula Dog Wins 'Best in Show' at 140th Westminster Event
It's the second year that a shih tzu won the category, as Patty Hearst's Rocket scored the victory last year, per The Oregonian . After naming America's top dog, judge Richard Meen said CJ was an "outstanding example of the breed".