Nike’s Phil Knight lets go of 5 million Nike Inc. shares,according to the Post Chronicle. Phil Knight is the co-founder and Chairman of Nike,and they report that he sold about $37 million worth of Nike stock earlier this week.
In the last two weeks he has sold about 5 million shares,which adds up to a price range in the area of around $332 million.
Other sources say, “The selling spree began on Oct. 14 when Knight acquired 5 million shares of the company’s Class B stock in exchange for 5 million shares of the company’s more powerful Class A stock.”
Even though he’s sold so many shares of Nike,he’s still the largest shareholder of the company. He still controls about 87 million more in the Class A stock section.
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