Shares of Nike Inc (NYSE:NKE) have been hit hard in 2026, thanks to quarterly earnings and, in recent days, due to the quarterly results of retailer Dick’s Sporting Goods, a key customer.
The decline has hit the net worth of founder Phil Knight so hard that he is likely to be out of the prestigious top 100 richest people in the world club.
• Nike stock is trading at depressed levels. Where is NKE stock headed?
Phil Knight’s Wealth Drops
Nike founder Knight was worth $66 billion back in November 2021. Five years later, Knight and his family are worth $25.3 billion.
They have lost $5.09 billion in net worth in 2026, according to estimates from Bloomberg. This ranks the Nike founder 99th on the Bloomberg Billionaires Index, only $0.1 billion away from ranking beyond the top 100 richest people in the world.
The current net worth for Knight and family is the lowest estimated by Bloomberg since March 2020, when they were worth $24.6 billion.
Knight’s $5.09 billion wealth decline in 2026 is the 20th biggest of anyone on the Bloomberg Billionaires Index year-to-date. Among the 100 richest people, the decline ranks 13th worst.
What’s Next for Knight
Knight and his family own an estimated one-fifth of Nike, which ties their net worth significantly to the apparel and footwear giant.
While there have been some signs of improvement amidst a turnaround effort for the company, some analysts see changes taking longer than expected.
Investors continue to bail on the turnaround and put their money elsewhere. Nike stock is down 37.6% year-to-date in 2026 and down over 50% in the last 52 weeks. Nike shares currently trade at their lowest levels since 2017.
This could see Knight’s wealth continue to fall this year and into the future.
The 88-year-old is also notorious for philanthropic efforts and helping fund the name, image and likeness (NIL) efforts for University of Oregon athletes. This could hit Knight’s net worth in the future, as well.
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