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.
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