In a surprising political move, Phil Knight, the billionaire co-founder of global sportswear giant Nike, has thrown his support behind former US President Donald Trump for the 2024 election.
The Oregon-based businessman, who had previously donated to Republican candidates but avoided direct endorsements, made his stance clear in a recent statement. Knight praised Trump's economic policies, stating they created "prosperity for all" during his presidency.
A Shift in Political Allegiance
Knight's endorsement marks a notable departure from his previous political engagements. While he has historically supported Republican causes, he had maintained a more neutral public position until now.
The 85-year-old entrepreneur specifically highlighted Trump's tax reforms and deregulation policies as key reasons for his support. "The economic growth during those years benefited businesses large and small," Knight remarked.
Impact on the Business Community
This endorsement could carry significant weight in business circles, given Knight's stature as one of America's most successful entrepreneurs. Nike, the company he co-founded in 1964, has grown into a global powerhouse with a market value exceeding $150 billion.
Political analysts suggest Knight's backing might influence other business leaders who have been hesitant to publicly support Trump's 2024 campaign. However, it remains to be seen whether this will translate into broader corporate support for the former president.
Potential Backlash Considerations
The move comes with potential risks for Nike's brand image. The company has carefully cultivated a progressive reputation in recent years, particularly on social issues. Knight's endorsement of Trump, whose policies often clashed with these values, could create tension with some of Nike's customer base.
Neither Nike nor the Trump campaign has commented on how this endorsement might affect the company's business operations or brand partnerships.
