Roger Federer is no longer a billionaire, Forbes estimates
Forbes now values the Swiss star at about 827 million euros after On Holding shares plunged; his roughly 2.5% stake in On was key to his earlier billionaire status.
Roger Federer has dropped out of the billionaire ranks, according to the latest estimate by Forbes, which now places his fortune at about 827 million euros. The Swiss tennis legend’s net worth took a sharp hit after the shares of sportswear maker On Holding — in which Federer holds a significant stake — tumbled.
Shares of On plunged as much as 22 percent on Tuesday, the company’s largest single-day fall since its public listing. At the time Forbes compiled its update the stock had fallen roughly 19 percent, a move that wiped at least 45 million euros off Federer’s reported assets in a single session.
The sell-off followed On Holding’s second-quarter results. The company reported roughly 907 million euros in revenue for the quarter, an increase of 13.5 percent year-on-year but short of the market’s approximately 937 million euro consensus. Investors were particularly unsettled by a slowdown in the crucial U.S. market, which accounts for more than half of On’s total revenues: U.S. sales rose 13 percent on a like-for-like currency basis, down from 17 percent in the prior quarter.
Profitability intact despite revenue miss
Despite the market reaction, On Holding remains profitable. The company generated about 112 million euros of net income in the quarter, having posted a loss a year earlier, and it raised its full-year gross margin guidance.
Federer joined On as a co-owner in 2019; Forbes estimates he currently owns roughly 2.5 percent of the company. The sharp appreciation of that stake was the main factor that pushed him into the billionaire club for the first time in 2025, when his total wealth was estimated at about 955 million euros, or slightly more than one billion dollars.
On the court Federer collected 20 Grand Slam titles and around 114 million euros in prize money over his career, but sponsorship deals with brands such as Uniqlo, Rolex and Mercedes-Benz and his investment in On accounted for a far larger share of his wealth. Although the recent drop removed him from the billionaire list, he remains very close and his net worth could swing again with changes in On’s share price.
Photo: press material from the event
