Roger Federer is no longer classified as a billionaire, according to Forbes, after a sharp drop in the value of shares in one of his investments. Multiple outlets report that the change is linked to a steep decline in the luxury sneaker brand On’s stock price.
The reported context is that On’s shares fall significantly after the company faces concerns tied to demand and results relative to expectations. Yahoo Sports and the New York Post both cite a large single-day percentage drop in On’s share price, describing it as large enough to remove Federer from billionaire rankings temporarily. The articles differ mainly in emphasis and phrasing—one focuses on the temporary loss of status, while the other highlights the “day of carnage”—but both attribute the shift to On’s share decline rather than to any change in Federer’s tennis record or earnings.
Overall, the reporting centers on how market movements in a sportswear investment affect the estimated value of Federer’s net worth and therefore his Forbes billionaire classification.
