Nike Founder Phil Knight Will Give Away Most of His Money

Nike founder Phil Knight, in a rare interview, told CBS Sunday Morning that he plans to give away most of his fortune.

"By the time, you know, the lives of my children and their kids run out, I will have given most of it to charity,” he tells CBS's Lee Cowan.

Knight, whose memoir "Shoe Dog" comes out next week, has already given away hundreds of millions of dollars including $1 billion to fight cancer and $500 million to Stanford University.

He is also a major backer of the University of Oregon and their athletic program.

CBS says Knight also discusses his relationship with Michael Jordan, the fact that he may have been too defensive when confronted with allegations of human rights abuses at Nike factories, and his relationship with Bill Bowman.

He also discuss his company's relationship with sometimes controversial athletes.

"We like a little wackiness," he says. "We just don’t want too much."

Knight told CBS that when he steps back and looks at what he has built, he can get emotional.

"There are times when the sun goes down and I look out the buildings and I get pretty choked up," Knight said.