Thursday, August 13, 2026 - Tennis legend Roger Federer is no longer a billionaire.
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 per cent plummet was worth at
least $74 million ($USD52m) to Federer, who has a widely publicised 2.5 per
cent 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
$1.35 billion ($USD952m) billion. The financial reporter last year estimated
Federer’s net worth to be up to $USD1.1 billion.
Swiss brand On, which originated in Zurich, has grown from
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.
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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