Key Takeaways
- As CEO, Hill will receive a base salary of $1.5 million per year, with a total compensation package worth $27 million.
- He owns significant shares in both Nike and Weber Inc.
- Hill’s career at Nike began in 1988 as an Apparel Sales Representative intern.
Elliott Hill, who is set to become Nike’s new CEO, is estimated to have a net worth of between $10 million and $20 million.
Hill’s wealth comes primarily from his long career at Nike, where he has worked for over 30 years. Now, with his appointment as CEO, his net worth is expected to increase even more.
On Thursday, September 19, 2024, Nike announced that Elliott Hill would take over as CEO on October 14, 2024, replacing John Donahoe as the leader of the world-famous sneaker and sportswear company.
In terms of his earnings as CEO, Hill’s base salary will be $1.5 million per year. The company offered him a compensation package worth $27 million to bring him back to Nike.
This package includes $7 million in equity and cash awards to compensate for the earnings he is missing from his other roles.
He could earn an additional $20 million through cash and stock, with $15.5 million based on his performance.
His stock holdings include significant shares in Nike and Weber Inc. As of January 2020, he owned 121,029 shares of Nike stock, valued at around $10 million.
Over the last five years, Hill has made two stock transactions in Nike, both of which were sales. In his most recent trade, he sold 90,000 shares in January 2020, earning around $9 million.
In addition to Nike shares, he also owns 90,000 units of Weber stock, which is worth approximately $1.7 million. Over the past 18 years, he has sold about $4 million worth of Weber stock.
Hill’s most active year for stock sales was 2007, when he made 18 different transactions. His busiest month for selling stocks was June.
Elliott Hill’s Journey From Intern to CEO: Leading Nike’s $39 Billion Growth
Hill’s career at Nike began in 1988 when he started as an Apparel Sales Representative intern.
Over the next 32 years, he worked his way up through various sales and management roles in different regions and divisions of the company.
From 1990 to 1991, he worked in Sports Graphics sales, followed by three years in Team Sales from 1991 to 1994.
His success in these roles led him to become a Sales Representative for two more years, until 1996.
Between 1996 and 1998, he worked in Sales Management before being promoted to Director of the Team Sports Division for two years.
During this period, he began to build wealth, benefiting from salary increases and performance bonuses tied to his growing responsibilities.
In 2000, Hill took on an international role as Vice President of EMEA (Europe, Middle East, and Africa) Sales and Retail, where he worked for three years.
He then returned to the US market as Vice President and General Manager of USA Retail for a year, followed by Vice President of USA Commerce from 2004 to 2005.
His rise within Nike continued, and from 2006 to 2010, he was Vice President of Global Retail.
In 2010, he became Vice President and General Manager of North America, where he remained for three years until 2013. In 2013, he took on the role of President of Geographies & Sales, holding this position until 2016.
During these years, his earnings likely crossed the million-dollar mark annually, thanks to the combination of salary, bonuses, and long-term incentives.
From 2016 to 2018, Hill served as President of Geographies & Integrated Marketplace.
From 2018 until 2020, he was Nike’s President of Consumer & Marketplace, leading the company’s global operations before retiring in 2020. During his time with Nike, he played a crucial role in helping the company grow into a $39 billion business.
Outside of Nike, Hill has held several key positions. He was on the board of Weber-Stephen Products LLC, the founder of Open Road Resources, and a senior advisor for BDT & MSD Partners, all from August 2020 to September 2024.
He also served on the board of Tecovas from May 2021 to September 2024 and on the board of Culligan International from July 2021 to September 2024.
Hill’s earnings from his roles following Nike are estimated to be in the millions, adding substantially to his wealth.
He is now set to step into the role of full-time CEO at Nike.
His impressive career at Nike, combined with his significant stock holdings and lucrative compensation package, has contributed to his estimated net worth of $10 million.
In Case You Didn’t Know
- Elliott Hill graduated from Texas Christian University and previously worked as an athletic trainer for the Dallas Cowboys.
- He married Gina, and they are the proud parents of two children, Peyton and Austin.
- In 2021, he co-founded the Austin Moontowers Baseball Club with Jim Matthews and actively plays on the team.
