Nike co-founder Phil Knight, who as amassed a net worth of around $25 billion, announced he will be giving away the majority of his fortune to charity, according to a CBS interview set to air on April 24.
Knight, 78, told interviewer Lee Cowan, “By the time, you know, the lives of my children and their kids run out, I will have given most of it to charity.”
In February, Knight donated an astounding $400 million to Stanford University and has also donated generously to the University of Oregon, both of which are his alma maters.
Knight announced last year that he will be stepping down as Nike’s chairman this year after 51 years.
Knight’s interview is also set to cover his inspirations in creating Nike and his relationship with co-found Bill Bowerman