Having taking sportswear giants Nike to new heights and helped the brand to overcome their negative image, the Mark Parker net worth is justifiably high.
Mark Parker is the CEO of sportswear brand Nike, a company famed for their ‘Just Do It’ tagline. Parker lives by his company’s slogan. He has a vision and he turns it into reality. As Nike has learnt over the past 30 years, Parker’s ideas make money.
The inspiring executive first joined the company in 1979 as a footwear designer and was promoted to Corporate Vice President within a decade. Following the departure of William Perez in 2006, Parker took his place at the top of the company.
Since taking over, Parker has strengthened Nike’s control of the footwear market. Likewise, he has also helped to shed the negative image that many people had of the company, resulting from their past use of sweatshops.
However, his biggest impact at Nike has undoubtedly come through his design work.
Parker has been involved in the design and development of a number of Nike’s best-selling products over the years. Becoming CEO made his job considerably more complex. Yet, he is still a constant presence in Nike’s research and development department.
3 Mark Parker designs that boasted the Nike brand
Parker has worked on a range of Nike projects during his time at the company, helping to create products such as Nike+, an accessory which allows runners to track their speed and distance.
While Nike rarely puts out a bad product, some of Parker’s creations have performed better than others.
Tinker Hatfield is credited as the creator of the Air Max 1. However, the famed designer believes that it was a team effort between him and Parker. The Air Max line has since earned Nike billions of dollars in revenue.
Parker designed the Nike Pegasus just three years after joining the company. The designer hoped to bring a well-designed, yet reasonably priced option for runners to the market. The Air Pegasus 26+ has since become Nike’s most popular running shoes.
Developed under Parker’s orders, the FlyKnit range is one of Nike’s latest hits. Despite launching as one of Nike’s most expensive products, the lightweight footwear saw Nike’s net income climb by more than 40% following its launch.
Mark Parker net worth: How much has the CEO earned in 30 years at Nike?
Parker has greatly increased Nike’s market cap since taking over as CEO in 2006. Nike’s value stood at $22.24 billion back then, but has climbed by almost 300% to $87.24 b since.
Nike has rewarded their CEO for his brilliant tenure. 2016 saw him earn $47.6 million, taking the Mark Parker net worth to $250 m.