According to financial reporting from Forbes, former tennis star Roger Federer’s net worth dipped to 952,4 millones de dólares, pushing him out of the global billionaire’s club following a sharp single-day decline in the value of On Holding shares.
The Market Drop and On Holding Shares
The financial shift occurred on August 11, when shares of On Holding AG—the Swiss athletic footwear and apparel company where Federer has held a stake since 2019—dropped 19% on the New York Stock Exchange under the ticker symbol ONON, as reported by Meganoticias and Todo Noticias. In a single trading session, the company’s stock fell to 31,41 dólares por acción per share, marking its lowest point over a twelve-month period.
Market analysts attributed the sudden sell-off to second-quarter financial reports that failed to meet Wall Street expectations. While On Holding reported solid revenues of 850,3 millones de francos suizos Swiss francs—representing a 13% increase compared to the same period in the previous year—consensus estimates from analysts had projected higher figures at 878,4 millones de francos suizos Swiss francs.
Corporate Strategy and Financial Impact
The shortfall in projected revenue stemmed from a deliberate operational strategy rather than a drop in overall consumer demand. Leadership at On Holding, including co-CEOs David Allemann and Caspar Coppetti, chose to limit wholesale shipments to protect the brand’s full-price retail policies.
By avoiding heavy retail discounting, the company saw its wholesale channel grow by just 4,8%. However, direct-to-consumer sales through online platforms and company-owned stores jumped 26% to reach 388,4 millones de francos suizos Swiss francs, accounting for 45,7% of total sales. Despite returning to a net profit of 105 millones de francos suizos Swiss francs—reversing a net loss of 40,9 millones de francos suizos Swiss francs from the prior year—the stock market penalized the company for missing analysts’ short-term revenue forecasts.
Federer’s Business Portfolio and Career Wealth
Federer first acquired a stake in On Holding in 2019, collaborating on the development of the “The Roger” urban footwear line. Forbes estimates that the 20-time Grand Slam champion owns roughly 2,5% of the company, split between class A and class B shares, which initially propelled him into billionaire status in 2025.
Before moving into equity-based athletic partnerships, Federer accumulated 131 millones de dólares in prize money across 24 seasons on the ATP Tour. His business portfolio features long-term corporate sponsorships, most notably a 10-year, 300 millones de dólares agreement signed with Japanese apparel brand Uniqlo in 2018, alongside major associations with Rolex, Mercedes-Benz, Lindt, and NetJets.
Following his drop below the mil millones de dólares threshold, Federer temporarily departs a select group of sports billionaires tracked by Forbes, a roster that includes golf legend Tiger Woods, former tennis player Ion Tiriac, and NBA figures Michael Jordan, Magic Johnson, LeBron James, and Junior Bridgeman. Financial analysts cited by Forbes and Yahoo Sports note that Federer’s exit from the list is tied to current market conditions and that his net worth could rebound if On Holding shares stabilize in upcoming months.
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