THE $93 TRILLION WEALTH TRANSFER

BOOMERS AND THEIR ELDERS CONTROL $93 TRILLION, OR TWO-THIRDS OF AMERICA'S HOUSEHOLD WEALTH. FORBES 400 MEMBERS PHIL KNIGHT, CHARLES KOCH, BARRY DILLER AND HAROLD HAMM GIVE A MASTER CLASS IN HOW TO MAKE SURE YOUR MONEY GOES TO CHARITY AND CHILDREN.

- MATT DUROT & CHRIS HELMAN

Speaking in August from his home in the center of the state, he estimates that because of wildfires, visibility out his windows is limited to 100 yards. “It’s the most beautiful state in the world, so to have it devastated by smoke is heartbreaking. I’ve spent a little money looking into it, and controlling these fires on the West Coast is very doable.”

A bold claim. But Knight admits there’s a task he’s finding much harder than anticipated: giving away the bulk of his $39.5 billion fortune. “Identifying smart philanthropic bets has not been as easy as I might wish, and I expect that my successors and advisors will have a lot of wood to chop when I am no longer able to source new ideas,” he muses. “I’m not in a hurry.”

Knight is focused on ensuring family and philanthropy—not the taxman—get his wealth. There is a theoretical 40% estate tax looming, but like other members of The Forbes 400, he’s determined it won’t take a big bite from his fortune. “That’s the art form. I talk to my financial advisor all the time, and that’s one of the subjects we talk about endlessly,” he says. “My philosophy is that if I do this right, the charities I give to will use that money better than the government will. So I give to them with a completely clear conscience.” So far he has donated $3.4 billion, mainly to the University of Oregon (a science center and basketball arena), Oregon Health & Science University (a cancer research center) and Stanford (international grad student fellowships, a business school building and research on cognitive decline).