Roger Federer falls out of billionaire club as On Holding shares plummet
Translated from Spanish, summarized and contextualized by DistantNews.
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- Roger Federer has fallen out of the billionaire club as his stake in athletic shoe company On Holding experienced a significant stock market decline.
- The company's shares plummeted 19%, erasing millions from the former tennis star's net worth.
- Forbes had previously estimated Federer's fortune at $1.06 billion, with $900 million of that coming from his business ventures and investments.
Roger Federer is no longer a billionaire after a sharp 19% drop in the stock price of On Holding, the athletic shoe company in which he is a significant shareholder. This market downturn has significantly impacted his net worth, erasing millions of dollars from his fortune.
Roger Federer lost his place in the club of billionaires after a sharp fall in the stock market of On Holding, the Swiss's sports brand, hit his fortune.
Forbes had previously reported Federer's wealth at $1.06 billion. The publication noted that $900 million of this total stemmed from his business ventures and investments, highlighting his success beyond the tennis court. The recent stock performance of On Holding, however, has seen his financial standing fall below the billion-dollar mark.
The company's shares plummeted 19%, dragging millions of dollars from the former tennis player's assets.
The Swiss tennis legend has been a prominent figure in the business world since his retirement from professional tennis. His association with On Holding, a company known for its innovative running shoes, was a key component of his post-athletic career financial success. The dramatic fall in the company's share value serves as a stark reminder of the volatility of stock markets and their direct impact on even the wealthiest individuals.
According to Forbes, Federer had an estimated fortune of $1.06 billion, with $900 million of that coming from his business ventures and investments.
DistantNews Editorial
Originally published by BioBioChile in Spanish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.
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