Roger Federer no longer a billionaire after On shoes stock plunges

Tennis legend Roger Federer has reportedly lost his billionaire status after a sharp fall in the share price of Swiss footwear company On reduced the value of his stake. Forbes estimates Federer's net worth has fallen to about US$949 million following Tuesday's decline in On Holding shares on the New York Stock Exchange. The company's stock fell by as much as 19 percent during trading after it released its latest quarterly financial results. Although On reported a significant rise in turnover, its performance fell short of market expectations. Federer is estimated by Forbes to own a stake of about 2.5 percent to 3 percent in the Swiss sportswear company. The 20-time Grand Slam champion became an investor and partner in On in 2019, three years before retiring from professional tennis. Forbes first estimated Federer to be a billionaire in 2025, with his On investment forming part of a fortune built largely beyond his success on the tennis court. The 44-year-old has maintained lucrative sponsorship deals with major brands including Uniqlo, Rolex, Lindt and Mercedes-Benz. Federer also earned more than US$130 million in prize money during his professional tennis career.