Banks declined lending to profitable Nike during early growth, Joe Weisenthal notes

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Banks declined lending to profitable Nike during early growth, Joe Weisenthal notes — Nike's early loan challenges spotlighted

Joe Weisenthal, executive editor of news for Bloomberg Digital at Bloomberg L.P., draws attention to a key lesson from the book 'Shoe Dog' about Nike's early days.

He recalls how Phil Knight was unable to borrow money from banks, even as Nike was both profitable and experiencing rapid growth. According to Weisenthal, traditional lenders found the company too uncertain to justify normal lending practices.

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Weisenthal has previously covered major shifts in global wealth accumulation. He reported that $366 billion was added to the wealth of the world’s 500 richest people in the largest single-day increase ever. In a separate article, he suggested that European soccer club valuations may rise as assets with notable histories become more scarce in the AGI era.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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