Roger Federer loses billionaire status after On shares plunge
Roger Federer is no longer a billionaire after seeing a major price crash in sports brand On.
As detailed last year, Federer joined the 10-figure club with a net worth of $1.1billion (£813million), according to Forbes.
The publication attributed that wealth to his significant minority stake, estimated at three per cent, in Swiss shoe and apparel brand On - who he has been affiliated with since 2019. On’s roster of tennis stars includes six-time grand slam winner Iga Swiatek, men’s world No 9 Flavio Cobolli and teenage prodigy Joao Fonseca.
On went public on the New York Stock Exchange in 2021 and as of August 2025 had a market capitalisation of nearly $15billion (£11.1bn), with Federer’s equity worth more than $375million (£277.3m).
However, on Tuesday, Federer lost his billionaire status when On’s company share price plummeted by over 20 per cent.
Despite record sales, the result did not meet market expectations and On also lowered its revenue forecast.
And as a result, Federer lost $52m (£38.4m) to reduce his net worth to $952m (£704m), details Forbes.
The impact of this fall means there are only eight athletes now who are billionaires.
Fellow former tennis player Ion Tiriac ($2.3bn - £1.5bn) became the first to hit 10-monetary figures in 2007 when he began investing in real estate, car dealerships and financial services.
Basketball icon Michael Jordan followed seven years later with the six-time NBA champion now estimated to be worth $4.3bn (£3.3bn).
His 1992 Olympic gold-medal winning team-mate Magic Johnson is worth an estimated $1.6bn (£1.2bn). Meanwhile LeBron James is another basketballer on the list at $1.4bn (£1bn).
Golfing great Tiger Woods ($1.5bn - £1.1bn) and football icons Cristiano Ronaldo ($1.2bn - £900m), Lionel Messi ($1.1bn - £813m) and David Beckham ($1bn - £740m) complete the list.
James, Woods, Ronaldo and Messi are the only athletes to have joined the billionaire club while still active in their sports.
During his playing days, where he won 103 tournaments over a 24-year career, Federer earned nearly $131m (£97m) in prize money and made around $1bn (£739m) in pre-tax off-court earnings via multiple sponsorship deals.
That included $150m (£110m) from Nike over two decades to wear their apparel. He left them in 2018, after 24 years, to sign for Japanese brand Uniqlo in a 10-year deal worth $300m (£228m).
However, Uniqlo don’t make footwear, allowing Federer to start his relationship with Zurich-based On.
Aside from his apparel and footwear deals, he has long-standing sponsorships including Lindt, Mercedes-Benz, Rolex and Moet & Chandon.
All of his off-court income allowed him to become the world’s highest-paid tennis player for 16 consecutive years. Furthermore, in 2020, he was the highest-earning sportsperson with a then-$106.3m (£78.6m) estimated pre-tax.
Deputy Editor
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