Oregon billionaires stumble in 2024 Forbes ranking

Published 11:00 am Friday, April 12, 2024

PORTLAND — As Oregon waits to learn the identity of a new Powerball billionaire (at least on paper, until taxes kick in), Oregon’s three known billionaires aren’t celebrating a windfall.

The latest rankings from Forbes show that the state’s most fabulously wealthy grew somewhat less so in 2023. All leaders of big, publicly traded companies whose wealth hinges on their stock holdings, they lost money during a difficult period for their respective industries.

Here’s how they fared:

Phil Knight and family

Richest people rank: No. 30 (▼5 since 2023)

Net worth: $40.9 billion (▼$4.2 billion since 2023)

Nike’s co-founder is no longer an executive at the company and officially serves as a non-voting observer on its board. But Phil Knight and his family remain major shareholders, individually and through family-controlled trusts. Nike’s stock has lost about 23% of its value this year amid weakening sales. The company is laying off employees and restructuring.

Knight has also given away large sums. His Knight Foundation now ranks as one of the largest philanthropic organizations in Oregon with $3.8 billion in assets. In one of the nation’s largest philanthropic gifts last year, Knight pledged $400 million to the 1803 Fund, which aims to reinvest in Portland’s historically Black Albina neighborhood and reverse decades of displacement. He’s also made major political contributions, giving $2 million this year and last to help Republicans gain seats in the Oregon Legislature.

Phil Knight also owns Laika Studios, the Hillsboro animation house where his son Travis Knight serves as president and CEO.

Tim Boyle

Richest people rank: No. 1,496 (▼184 since 2023)

Net worth: $2.2 billion (▼$0.1 billion since 2023)

The Columbia Sportswear chief executive runs the Washington County company his grandfather founded in 1938, and he’s held its top job since 1988. He also serves as the company’s president and chairs its board of directors. Tim Boyle, son Joseph Boyle and daughter Molly Boyle together control just under 50% of the company’s shares at the end of last year.

Columbia’s stock has lost 13% of its value since the beginning 2023.

As Columbia’s CEO, Boyle also made $2,764,214 in 2022, the most recent year for which figures were available.

Travis Boersma

Richest people rank: No. 1623 (▼189 since 2023)

Net worth: $2 billion (▼$0.1 billion since 2023)

Boersma became a billionaire early on Sept. 17, 2021, when the coffee company he co-founded with his late brother Dane in 1992 went public with a $5.4 billion valuation. Boersma is Dutch Bros largest stockholder, and he also retained a majority of shareholder voting rights.

The company’s value surged soon after its initial public offering but has since dropped about 26% from its IPO price. Its market capitalization is now $4.6 billion. The company continues to expand, with 831 locations in 16 states at the end of 2023.

As Dutch Bros’ executive chairman, Boersma made $1.5 million in salary.

Marketplace