Roger Federer is no longer a billionaire, according to Forbes. His estimated net worth fell to about $952.4 million on 11 to 12 August 2026, down roughly $52 million, after shares in On Holding, the Swiss running-shoe company he part-owns, dropped 19% in a day. Forbes had first counted Federer as a billionaire in 2025.
Why On’s shares fell
On missed analysts’ expectations for second-quarter sales. It reported net sales of 850.4 million Swiss francs against forecasts of 878.4 million, and investors sold the stock.
The miss came despite a profitable quarter. On reported net income of 105 million francs and a gross profit margin of 65.4%, up from 61.5% a year earlier. The share price reacted to the sales shortfall rather than to the company’s overall health.
Federer’s stake in On
Federer joined On as a co-owner and partner in 2019 and holds roughly 2.5% of the company. Because so much of his wealth is tied to that stake, movements in On’s share price have a direct effect on his estimated net worth.
Where Federer’s money comes from
| Source | Detail |
|---|---|
| Career prize money | About $131 million over a 24-year career |
| Grand Slam titles | 20 |
| Endorsements | Long-term deals including Uniqlo |
| Equity | About 2.5% of On Holding, since 2019 |
Federer earned far more from endorsements than from prize money during his career, and his On stake turned that commercial value into ownership. That is also why his billionaire status depends on a share price he does not control.
Could he regain the status?
Forbes valuations change with the markets. A recovery in On’s share price would push Federer’s estimated wealth back above $1 billion, so the change says more about one bad trading day than about his finances.
Updated 7 October 2026. Source: Forbes Australia.
