Phil Knight Announces $1 Billion Endowment for Cole Hocker’s Hair
By Jack Sells
Nike co-founder Phil Knight announced in a press conference this morning that he is creating a $1 billion endowment to finance Cole Hocker’s hair for the next 15 years.
Knight, who is reportedly worth $33.6 billion, said he has been personally paying for Hocker’s hair products and treatments since the start of the miler’s 2021 collegiate indoor season.
“While he was at Oregon, Cole confided in me that his hair is the key to his confidence and success,” Knight said. “I started purchasing premium products for him and—not coincidentally—that’s when he started to take it to another level.”
Flake-free and safe from split ends, Hocker capped the indoor season by winning two NCAA titles. He has since gone on to win two U.S. Olympic Trials titles and gold at the 2024 Olympics.
Hocker’s down year in 2022 also shows the connection between hair care and his success.
According to Knight, Nike imports shampoo and conditioner from Japan, a country well known for its hair products. But supply chain issues in 2022 put Hocker in limbo without top-of-the-line conditioner.
“Up until then we weren’t buying in bulk and that was a mistake,” Knight admitted. “We failed Cole and his injury was because of us.”
Knight says most of the money will go to paying for an in-house stylist for Hocker.
In a statement to LetsRun, Hocker said, “Josh Kerr has a personal chef, I have a personal hair stylist. The fans can decide which has been the better investment.”
Jack Sells is a recent graduate of Franklin College, where he ran and studied multimedia journalism. He currently teaches high school social studies.