Phil Knight ponied up $400 million to help historically Black areas of Portland. Meet the woman investing it.

FAST COMPANY | HANNAH WALLACE

When Rukaiyah Adams took the podium at Nike World Headquarters in Beaverton, Oregon, two weeks ago to announce Phil and Penny Knight’s $400 million donation to the 1803 Fund her voice wavered with emotion. It’s understandable why: Thanks to the contributions of the Nike founder and his wife, the scale of the assets she’ll be managing as chair of the newly formed fund will be game-changing for Portland’s Black community, which her family has been a part of for four generations.

“At $400 million, I’ll be managing almost more than all Black women in venture capital,” Adams tells me by phone a week later. “I don’t think there’s a Black woman who has ever raised more than a few million dollars for a historically Black community.”