Roger Federer is no longer listed as a billionaire after the value of an investment tied to the sportswear company On drops sharply. Multiple outlets, citing Forbes, report that the change is linked to a steep fall in On’s share price.
The reports describe On as a luxury footwear and sportswear brand in which Federer is an investor. Forbes data is referenced as showing that the loss is temporary and results from market movement rather than a direct change in Federer’s earnings from tennis. Yahoo Sports and the Vancouver Sun both note the scale of the decline, with the Vancouver Sun citing an early Tuesday drop of about 19% and an associated loss of at least $52 million.
Other outlets, including the New York Post and Daily Mail, frame the development more dramatically, saying his billionaire status is wiped out “overnight” or that he watches as millions are lost. Despite differences in tone, the common theme is that On’s weaker-than-expected sales and the resulting stock selloff reduce the value of Federer’s stake enough to push him below billionaire thresholds.
