Roger Federer loses billionaire status after stock crash

In the United States, Roger Federer, the renowned tennis player, has seen a significant decline in his net worth, dropping below the billionaire mark. This financial setback occurred following a 19% drop in the stock price of On Holding, a sneaker brand in which Federer holds a 2.5% stake. The stock crash, which took place recently, resulted in a loss of at least $52 million for Federer, bringing his estimated net worth down to $952 million. Previously, Forbes had valued his wealth at approximately $1.1 billion, highlighting the dramatic impact of the stock market on his financial status.

Federer's involvement with On Holding began in 2019 when he became a co-owner and casual fashion consultant. The company, which went public on the New York Stock Exchange in 2021, experienced a surge in valuation last year, largely attributed to the positive reception of Federer’s own sneaker line, 'The Roger.' This partnership has been one of Federer’s most lucrative investments, showcasing his ability to leverage his brand and image in the business world. Despite the recent downturn, Federer remains a highly marketable athlete, with a diverse portfolio of endorsement deals.

Throughout his career, Federer has secured numerous lucrative sponsorship agreements, including a notable 10-year, $300 million deal with Uniqlo, which he signed in 2018 after ending a long-standing partnership with Nike. His transition to Uniqlo has been credited with helping the brand solidify its presence in global markets. The loss of Federer to Uniqlo was described as a significant failure for Nike, which had invested heavily in retaining him as a brand ambassador.

Even after retiring from professional tennis in 2022, Federer continues to maintain a strong public image, characterized by class and elegance. His endorsements extend beyond Uniqlo to include prestigious brands such as Rolex, Mercedes-Benz, Gillette, and Lindt chocolate. Federer and his wife, Mirka, are parents to four children, and despite the financial losses, he is expected to remain a prominent figure in the sports and fashion industries for years to come.