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Nike Founder Phil Knight Says He'll Give Away Most Of His Money

<p>In this Feb. 1, 2014, file photo, Nike co-founder Phil Knight acknowledges the crowd at Matthew Knight Arena during Oregon's basketball game against Southern California in Eugene.</p>

Chris Pietsch

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In this Feb. 1, 2014, file photo, Nike co-founder Phil Knight acknowledges the crowd at Matthew Knight Arena during Oregon's basketball game against Southern California in Eugene.

Nike founder Phil Knight plans to give most of his money to charity, according to CBS.

Knight is worth about $25 billion dollars.

He told CBS in an interview that will air Sunday that by the time the lives of his children and grandchildren run out, he’ll have given most of his fortune to charity.

The 78-year-old also talked about his relationship with basketball great, Michael Jordan, and Nike’s use of overseas labor.

Knight said the company tried to find the best factories to work with and “the fact that they could be better is what we should have concentrated on, and what we ultimately did concentrate on.”

Knight has already donated substantial sums to Oregon Health And Science University for a cancer research center, and to his alma maters: Stanford and the University of Oregon.

He announced last year that he’s stepping away from Nike.

This week he releases his new book, “Shoe Dog.”

Copyright 2016 Oregon Public Broadcasting

Kristian Foden-Vencil is a reporter and producer for Oregon Public Broadcasting. He specializes in health care, business, politics, law and public safety.