Federer's Billionaire Status Shift
Roger Federer's net worth falls below billionaire mark after On stock plunges
Roger Federer lost his billionaire status overnight after shares in Swiss footwear brand On fell roughly 19% on Tuesday, according to National Post. The 20-time Grand Slam champion saw his net worth drop to an estimated $952.4 million — shedding at least $52 million in a single day.
On had been riding high as recently as Aug. 12, 2025, when its stock was trading near $50 per share. By Tuesday afternoon, shares had fallen to below $31, a drop of more than 38% from that peak, according to LFPress.
Federer's $52 Million Drop in One Morning
Federer joined On as a co-owner in 2019, before the brand went public. That early stake made him a billionaire on paper. But Tuesday's sell-off wiped out that milestone fast. His net worth fell from just over $1 billion to $952.4 million in a matter of hours, The Whig reported.
The 19% single-day drop is one of the sharpest the company has seen. Just months earlier, On's stock had climbed 13% in the second quarter of 2025. That momentum is now gone, according to Goderich Signal Star.
On's Sales Miss Sent Investors Running
The sell-off was triggered by a revenue miss. On reported net sales of $1.04 billion for the quarter. Analysts had expected closer to $1.08 billion — a shortfall of roughly $40 million, according to Fort McMurray Today.
For a growth brand like On, missing estimates — even by a small margin — can spook investors fast. The stock's reaction was swift and severe. Shares tumbled from near $38 to below $31 in early trading on Tuesday.
From Early Bet to Billion-Dollar Brand — and Back
Federer's partnership with On was seen as a savvy move when he joined in 2019. The Zurich-based brand was still a niche running shoe company. Federer helped On go global, lending his name and reach to the brand's rise, Chatham Daily News reported.
On went public in 2021 and quickly became one of the fastest-growing footwear companies in the world. At its peak near $50 per share in August 2025, Federer's stake was worth well over $1 billion. Tuesday's crash brought that era to a close.
Federer Still Worth Nearly $1 Billion Despite the Slide
Despite the hit, Federer is hardly in financial trouble. His net worth sits at an estimated $952.4 million — just below the billionaire threshold. He also earned hundreds of millions during his playing career through prize money and endorsements, according to Owen Sound Sun Times.
The bigger question is whether On can recover. The brand still has strong global momentum and a loyal customer base. But with shares down more than 38% from their August high, On — and Federer — will need a bounce back to reclaim lost ground, Clinton News Record noted.
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