Was the Nike Swoosh (which is perhaps one of the most famous corporate logos in the world, second only to McDonald's golden arches) really designed by a graphic design student who got paid only $35 for it? It sounds like an urban legend playing off of Nike's use of cheap Asian sweatshop labor. But apparently the story is true. At least, the Nike website confirms it. The swoosh was designed in 1971 by design student Carolyn Davidson, and she did only receive $35 for it. However, in 1983 the company gave her a gift of stock as a token of their appreciation.