Roger Federer No Longer a Billionaire After Stock Plunge
Tennis legend's net worth dips below the nine-figure mark following a significant share price collapse of his investment in athletic brand On.
Roger Federer has fallen from billionaire status after the stock value of his investment in the athletic shoe company On experienced a sharp decline. The 20-time Grand Slam champion saw his net worth drop significantly after the company's shares plummeted approximately 19% due to lower-than-anticipated sales.
According to Forbes, the share price drop erased at least $52 million from Federer's fortune, stemming from his publicly disclosed 2.5% stake in the company. This development brings his estimated net worth to $952 million, down from a high of approximately $1.1 billion last year.
On Holding, the Swiss brand founded in Zurich, went public on the New York Stock Exchange in 2021. The company's valuation saw substantial growth last year, partly driven by the positive reception of Federer's "The Roger" footwear line. Federer became involved with On in 2019, serving as a co-owner and consultant.
Federer's career earnings from prize money exceed $130 million. However, his off-court endorsements and investments have been more lucrative. Notably, he signed a 10-year, $300 million apparel deal with Uniqlo in 2018, ending a 24-year partnership with Nike. While Nike reportedly offered $172 million to retain him, Uniqlo's offer was significantly higher. Federer also held endorsement deals with brands such as Rolex, Mercedes-Benz, Gillette, and Lindt, and had a $115 million agreement with NetJets.