Nike commits $40 million for social justice, racial equity (2024)

FAQs

How much money did Nike donate to BLM? ›

Today NIKE, Inc. is announcing a $40 million commitment over the next four years to support the Black community in the U.S. on behalf of the NIKE, Jordan and Converse brands collectively.

In 2020, Nike, Converse, Jordan Brand and Michael Jordan committed a combined $140 million over 10 years to invest in and support organizations focused on economic empowerment, education and social justice to address racial inequality for Black Americans.

The Black Community Commitment was launched in June 2020 with a $140 million investment. It is a beacon of hope and dedication to eradicating systemic racism and promoting racial progression and equity.

Nike's operated at median total equity of 12.767 billion from fiscal years ending May 2019 to 2023. Looking back at the last 5 years, Nike's total equity peaked in May 2022 at 15.281 billion.

Nike supports nonprofit organizations that address issues specific to the active-duty military and veterans communities. In FY22, we donated a total of $625,000 to 13 nonprofits across the U.S. that support military veterans and their families by offering sport, leadership development and empowerment programs.

All 30 NBA teams will donate $1 million each, per year for 10 years, while an eight-person board of directors is also being set up.

Nike is proud to partner with organizations around the world doing the work in LGBTQIA+ research, advocacy, and policy.

If we asked you to list a few sneaker brands, you'd likely start with names like Nike, Adidas, New Balance and even Converse. There are so many incredible shoe brands that sell sneakers, but none of the biggest names are Black-owned.

Among metropolitan areas, the New York City metro area (including parts of New Jersey and Pennsylvania) has the nation's largest single-race Black population, with roughly 2.8 million.

What is Nike's commitment to the community? ›

We invest in more equal, inclusive and active communities to help create a future where everyone can thrive.

Text of The Black Pledge. THE BLACK PLEDGE. We pledge allegiance to our great Black brothers who died for us, that we will study together, learn together, and walk together in their footsteps. There are no graves, no vaults, and no stones that can hold back their greatness.

Phil Knight: 51,144,661 shares, or 3.3% of shares outstanding. Knight is the co-founder of Nike and served as its longtime CEO, running the company from 1964 to 2004. He is Nike's largest individual shareholder and holds more of the stock through his Swoosh, LLC holding company.

The ownership structure of Nike (NKE) stock is a mix of institutional, retail and individual investors. Approximately 65.88% of the company's stock is owned by Institutional Investors, 1.73% is owned by Insiders and 32.39% is owned by Public Companies and Individual Investors.

As of August of 2021, the company had a trailing 12-month revenue of $46.19 billion and a market cap of $275 billion. 1 Nike's capital structure has high equity capital relative to debt, with a debt-to-equity ratio of 0.66, though this figure rose sharply in 2020 due to store closures.

The BLM chapter received enormous backlash for the post appearing to praise the murderers. On a recent 'Verdict' podcast episode, the Texas senator called out Coca-Cola brand Sprite's $500,000 donation to BLM in June 2020 - which previously was showcased on the company's public website.

Rating Information

This charity's score is 80%, earning it a Three-Star rating.

We invest in more equal, inclusive and active communities to help create a future where everyone can thrive. We work with more than 200 organisations around the world dedicated to levelling the playing field and addressing inequality.