Roger Federer loses billionaire status as fortune wiped out in day of carnage
Roger Federer is no longer a billionaire with the tennis icon watching on as millions of dollars were wiped out on Tuesday.The 20-time grand slam champ lost a fortune when luxury sneaker brand On suffered a share price collapse as a result of softer sales than forecast.According to Forbes, the 19% plummet was worth at least $52 million to Federer, who has a widely publicised 2.5% stake in the company.On Holding was first publicly listed on the New York Stock Exchange in 2021 — and the company’s valuation exploded last year, taking Federer back into the billionaire range.Forbes estimates Federer’s net worth has now dropped to $952 million.The financial reporter last year estimated Federer’s net worth to be up to $1.1 billion.While Federer will hardly be crying himself to sleep on his mattress made from $100 bills, the loss of more than $200 million is no laughing matter.Swiss brand On, which originated in Zurich, has grown from a being a high performance running shoe manufacturer into a global athletic footwear brand.Part of the company’s 2025 valuation surge was a hugely positive response to Federer’s own ‘The Roger’ range.Federer first became involved with the company in 2019, taking up a position as co-owner and operating as a casual fashion consultant.On Running has been Federer’s most lucrative investment.The majority of Federer’s financial empire originates from his playing career — and the millions he earned in endorsement deals.The eight-time Wimbledon champ finished his playing career with total prize money winnings of more than $130 million.
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He was even more successful off the court, most famously signing a 10-year, $300 million apparel deal with Uniqlo in 2018.The move to the Japa...