Nike chairman gives $400m to Stanford program to solve 'global challenges'

Phil H Knight's contribution will help create a new program called Knight-Hennessy Scholars, aimed at making an impact on poverty and climate change

What's a better way to celebrate your 78th birthday than giving away $400m to solve climate change?

Stanford University has announced that Nike co-founder and chairman Philip H Knight - one day before his 78th birthday - was contributing $400m to the school to create a new program called Knight-Hennessy Scholars. Graduate students chosen for the program will address the "increasingly complex challenges facing the world" such as poverty and climate change.