Carolyn Davidson, the graphic design student who created Nike’s iconic Swoosh logo for just $35 in 1971, received a gold ring featuring the Swoosh and 500 shares of Nike stock from co-founder Phil Knight in 1983.
According to Portland State University, where Davidson studied graphic design and Knight taught accounting, she initially worked with Knight on charts and graphs before being asked to design a stripe for a new running shoe.
How Carolyn Davidson met Phil Knight
Davidson’s association with Nike began in 1971, when Knight was running Blue Ribbon Sports, an Oregon-based business that distributed Japanese Onitsuka Tiger running shoes in the United States. Knight and his business partner, University of Oregon track coach Bill Bowerman, were preparing to launch their own line of footwear and needed a distinctive logo.
Davidson was a graphic design student at Portland State University. According to her recollection published by the university, Knight approached her after overhearing her talking about being unable to afford an oil painting class. He offered her design work, initially asking her to prepare charts and graphs for a presentation.
The assignment eventually led to an opportunity to design a stripe for the company’s shoes. Knight wanted a mark that conveyed speed and looked different from competitors’ designs, including Adidas’ three stripes.
Davidson sketched several possibilities on tissue paper and presented them to Knight and his team. The design ultimately selected was the curved, swooping mark now known as the Nike Swoosh. Knight was reportedly not immediately convinced, saying, “I don’t love it, but maybe it will grow on me.”
Davidson billed him $35 for the design. She continued working with the growing company for several years before it began using outside advertising agencies.
Phil Knight’s gift to Carolyn Davidson in 1983
In 1983, Davidson was invited to meet Nike executives for lunch but arrived to find a reception organised in her honour.
She received a gold ring shaped like the Swoosh and set with a diamond, along with 500 shares of Nike stock, recognising her contribution to the company’s visual identity.
How Nike’s stock splits affected the original 500 shares
Nike’s official records list seven two-for-one stock splits. However, the first took place in January 1983, before Davidson received her shares later that year. The six subsequent splits would have increased her original 500 shares to 32,000, assuming she retained the entire holding.
Nike’s stock closed at $37.21 on October 19, 2026. At that price, 32,000 shares would have a theoretical value of approximately $1.19 million. This calculation assumes the original shares were retained through all six subsequent splits and does not establish Davidson’s current holdings.
In an interview with ESPN, Davidson said she had sold some shares after the stock splits. Her actual remaining holding and its current value cannot be established from the original gift alone.