How did Roger Federer lose his billionaire status overnight?

Swiss legend lost at least $52 million as stock price for luxury footwear brand On dropped about 19% early Tuesday.

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Nobody will ever be able to take away Roger Federer’s status as a 20-time Grand Slam champion and one of the greatest tennis stars of all time, but there is one title he has lost: Billionaire.

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The Swiss sports icon lost his billionaire status overnight, as he saw millions fade away as the share price for luxury sneaker brand On dropped roughly 19%.

Federer had joined On as a co-owner in 2019, and the Swiss-based footwear company describes him as a “close partner to our founders.”

According to Forbes, Federer’s net worth fell to an estimated $952.4 million on Tuesday afternoon as a result of On Holding’s stock price crashing — and the value remains below $31 US per share as of Wednesday morning. That number also represents a dive of more than 38% from Aug. 12, 2025, when it was sitting at nearly $50 per share.

According to reports, Federer’s net worth fell to $952.4 million as of Tuesday afternoon, losing at least $52 million overnight.

Why did the stock price crash?

According to the Wall Street Journal, while On saw its net sales rise 13% in the second quarter, the company fell short of expectations by roughly 40 million, with $1.04 billion incoming compared to an estimate of $1.08 billion.

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As part of his partnership with On, Federer reportedly owns a roughly 2.5% stake in the company, including more than 630 million total shares.

Which other athletes are billionaires?

Federer had reached the billion-dollar threshold in Aug. 2025, in large part due to his investment in On.

At the time, he was the seventh athlete to enter the billionaire club, joining a group that included NBA stars Michael Jordan, Magic Johnson, Junior Bridgeman and LeBron James, golf icon Tiger Woods and Ion Èširiac — a Romanian former French Open doubles champion turned investor who became the first member of the exclusive club.

During Federer’s illustrious tennis career, he earned an astounding $130,594,339 in official ATP Tour prize money to go along with massive worldwide sponsorships, which at times saw his yearly earnings reach more than $100 million per year.

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Federer, who retired in 2022, has 103 career titles and completed the career Grand Slam by winning the Australian Open six times, Wimbledon eight times, the US Open five times and the French Open once.

He was inducted into the International Tennis Hall of Fame this year.

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