Federer falls from billionaire status after stock plunge
Tennis legend Roger Federer has been knocked out of the billionaires’ club after shares in Swiss sportswear firm On Holding tumbled roughly 19 per cent on Tuesday, reports BritPanorama.
The dramatic stock decline cost the 20-time Grand Slam champion an estimated $52 million in a single day. His overall fortune now sits at approximately $952.4 million.
On Holding, the Zurich-based athletic footwear brand, first floated on the New York Stock Exchange in 2021. A surge in the company’s valuation during 2025 had previously propelled Federer back into billionaire territory, with Forbes pegging his wealth at around $1.1 billion last year.
The 44-year-old holds a well-documented 2.5 per cent stake in the business, tying his personal fortune closely to its market performance. The sell-off was triggered by On Holding’s latest quarterly results, which fell short of market forecasts. Net sales for the second quarter reached 850.4 million Swiss francs—roughly $1.04 billion—representing a 13 per cent year-on-year increase but missing analyst expectations of 878.4 million francs.
Despite the revenue shortfall, the company’s underlying financial health showed notable improvement. On posted net income of 105 million Swiss francs, a stark turnaround from the 40.9 million-franc loss recorded during the equivalent period in 2025. Profit margins also strengthened considerably, climbing from 61.5 per cent to 65.4 per cent. That progress prompted the firm to revise its full-year gross margin target upwards to 65 per cent, suggesting the disappointing top-line figure may not reflect the broader trajectory of the business.
Federer’s involvement with On began in 2019, when he came on board as co-owner and informal fashion adviser. The investment has proved his most profitable business venture to date. The bulk of his wealth, however, was amassed during and after a glittering 24-year playing career. He accumulated more than $130 million in prize money alone, claiming eight Wimbledon titles along the way.
Off the court, his earning power was even greater. A landmark 10-year, $300 million apparel contract with Uniqlo in 2018 ended a long-standing relationship with Nike. That deal remains among the richest endorsement agreements in sporting history. His commercial portfolio has included partnerships with Rolex, Mercedes-Benz, Gillette, and Lindt, alongside a $115 million arrangement with private aviation firm NetJets.
Federer nonetheless remains within touching distance of the billion-dollar threshold. Market observers have noted that there are no significant long-term worries surrounding On Holding’s commercial outlook, and the company’s improved profitability suggests the share price dip may prove temporary. The retired Swiss star, who stepped away from competitive tennis in 2022, has continued to leverage his reputation for elegance and style in the business world. His ‘The Roger’ sneaker range contributed to the brand’s valuation boom earlier this year.
With his vast portfolio of endorsement income and investments still intact, Federer is widely expected to reclaim his place among the world’s sporting billionaires in relatively short order. For now, though, the ten-figure milestone has slipped just beyond his reach.
Federer’s evolution from tennis icon to business mogul has been remarkable, reminding us how closely sport and enterprise intertwine, even for legends.
