NEED TO KNOW
- Roger Federer has earned the title of “billionaire,” according to Forbes
- The 20-time Grand Slam Champion is estimated to be worth $1.1 billion
- A large portion of his fortune comes from his 2019 investment in the Swiss sportswear company, On
Roger Federer has earned a very exclusive new title.
The 20-time Grand Slam Champion is now a billionaire, as Forbes announced on Friday, Aug. 22, that it estimates his net worth at about $1.1 billion.
The tennis star, 44, is among the highest-paid tennis players ever. He scored nearly $131 million in prize money over his 24-year Association of Tennis Professionals career, behind only Novak Djokovic’s $189 million total and Rafael Nadal’s $135 million.
However, it was his investment in the Swiss sports apparel company On in 2019 that has steadily raised his net worth. He now holds a significant stake in the company.
He was first introduced to On when his wife, Mirka, started wearing the brand’s sneakers. Soon after, he contacted the company’s founders, David Allemann, Olivier Bernhard and Caspar Coppetti, and then took an equity stake in the business.
He then helped the brand create an on-court tennis shoe, as well as a lifestyle apparel line. The company went public on the New York Stock Exchange in 2021, and now has a market capitalization of nearly $15 billion. The athlete holds 3% stake, making his equity worth more than $375 million, per Forbes.
His investment in On follows the various high-profile sponsorships he received throughout his career. In 2018, he left Nike and signed with Uniqlo for a $300 million contract that would span over 10 years. Meanwhile, Nike paid him roughly $150 million over two decades.
He was also sponsored by Lindt, Mercedes-Benz, Rolex and Moët & Chandon.
Along with his investment in On, he has invested in a variety of companies throughout the years, including private plane operator NetJets, eyewear brand Oliver Peoples and UBS bank.
In 2013, he and Tony Godsick cofounded management company Team8, and then four years later, created the Laver Cup. The event is an annual team tennis tournament comprised of six European men playing against six international players.
He now becomes the seventh athlete to become a billionaire, and the second ever tennis player, following Ion Tiriac.
In 2014, Forbes estimated that Michael Jordan became a billionaire and is now worth $3.8 billion. Magic Johnson joined the club in October 2023 and now has a net worth of $1.5 billion. Junior Bridgeman had a $1.4 billion fortune at the time of his death in March.
LeBron James and Tiger Woods are the only athletes in the exclusive group to be billionaires while still playing in their sports. Forbes estimated that James, 40, reached billionaire status in June 2022 and now has a net worth of $1.2 billion. Woods, 49, earned the title that same month and now has a fortune of $1.3 billion.
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