Phil Knight is giving $400 million to rebuild the Black community in his hometown of Portland, Ore. The Nike co-founder said he wants the initiative to “give the whole city hope” in a time of crisis.
Phil Knight grew up in Portland, Ore., and eventually made the area home to Nike Inc., the athletic-shoe behemoth he co-founded with Bill Bowerman, his track coach at the University of Oregon.
On Monday, Mr. Knight and his wife, Penny, are set to announce they’re donating $400 million to rebuild Portland’s Albina area, a historically Black community whose residents have experienced decades of disruption and displacement.
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