Nike founder Phil Knight gives $400 million to benefit Black Portlanders
It’s not yet clear how this investment will be distributed or to which community organizations.
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It’s not yet clear how this investment will be distributed or to which community organizations.
The newly established fund has received $400 million from the family of a Nike co-founder and will invest in real assets.
The investment pairs two powerhouses in Knight, the billionaire Nike co-founder, and Rukaiyah Adams, the Portland financial expert and community leader.
The gift from Knight and his wife Penny Knight to the 1803 Fund – a new initiative revealed Monday – is meant to fund education services, art programs and other projects for Black Portlanders in the inner North and Northeast Portland neighborhoods once known as Albina.
It’s not yet clear how this investment will be distributed or to which community organizations.