Tennis legend Roger Federer loses billionaire status

Tennis legend Roger Federer is no longer a billionaire. 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 per cent plummet was worth at least $74 million ($USD52m) to Federer, who has a widely publicised 2.5 per cent stake in the company. On Holding was first publicly listed on the New York Stock Exchange in 2021, and the companys valuation exploded last year, taking Federer back into the billionaire range. Forbes estimates Federers net worth has now dropped to $1.35 billion ($USD952m) billion. The financial reporter last year estimated Federers net worth to be up to $USD1.1 billion. Swiss brand On, which originated in Zurich, has grown from being a high-performance running shoe manufacturer into a global athletic footwear brand. Part of the companys 2025 valuation surge was a hugely positive response to Federers own The Roger range. Federer first became involved with the company in 2019, taking up a position as co-owner and operating as a casual fashion consultant. The majority of Federers financial empire originates from his playing career and the millions he earned in endorsement deals.The eight-time Wimbledon champ finished his playing career with total prize money winnings of more than $130 million.The post Tennis legend Roger Federer loses billionaire status appeared first on Linda Ikeji Blog.