Nike co-founder Phil Knight and wife contribute $400M to Portland’s Black community
A new investment fund to aid Black Portlanders received $400 million from Nike co-founder and billionaire Phil Knight.
Education services, art programs, and other initiatives for Black Portlanders in the inner North and Northeast Portland neighborhoods, formerly known as Albina, will be supported by the contribution from Knight and his wife Penny Knight. The funds will go to the 1803 Fund, which was announced on Monday, as reported by OPB.
Albina was the hub of Black commerce and culture in the early 1900s, but by the 1960s, the area had been largely destroyed by city-sponsored urban renewal projects. The Black community in Albina suffered greatly as a result of construction projects like the Memorial Coliseum, Legacy Emanuel Hospital, Moda Center, and a section of Interstate 5. The decades of gentrification that followed these projects were extremely damaging to the community, which is now exemplified by the neighborhoods of Eliot, Boise, Humboldt, Overlook, and Piedmont.
The Knights’ donation to the 1803 Fund is an effort to help mitigate some of the harm the programs have caused. According to a press release from the fund’s CEO, Rukaiyah Adams, the Knights’ investment is “unparalleled” and “[has the potential to] significantly change the culture and landscape of Portland. It has never been done in Portland, let alone the United States, to undertake a place-based effort of this scope.
The state of Oregon does not have a limit on individual campaign contributions, and according to HYPEBEAST, Knight has donated millions of dollars to conservative Oregon politicians over the years. This donation history conflicts with Nike’s progressive agenda. He has, however, explained that his involvement with the 1803 Fund is a result of his close relationship with Northeast Portland.
In a press statement, Knight reflects on his memories, saying, “Some of my most important memories are connected to the Eastside of Portland.”
In the past, Knight has helped Portland’s Black community by funding Self-Enhancement Inc. and the regional Head Start programs. Knight’s goal in funding the Rebuild Albina project is to help the local community improve their material conditions and standard of living.
Evie Blanco is a journalist with nearly a decade of experience who was born in the Dominican Republic and raised in Queens, New York. She is extremely well-versed in hip-hop music and culture and is always aware of any developments within it. Whether it’s the latest in pop culture, a fascinating foreign destination, a truly amazing new restaurant, or breaking news, she loves to write about it all.