Phil Knight donates $400M to Stanford University

The sizable donation from Nike’s co-founder will help create the world’s largest fully endowed scholarship program.

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With Knight’s gift and donations from alumni and Stanford’s Board of Trustees members, the Knight-Hennessy Scholars program endowment already has $700 million in funding, and is expected to grow to $750 million, university officials said.

The money will enable 100 students annually, nominated by their undergraduate universities, to receive funding for three years to pursue master’s or doctorate level degrees, or professional programs at Stanford.

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Stanford University states “Knight’s founding gift to the Knight-Hennessy Scholars endowment is the largest cash gift from an individual to Stanford.”