Tennis star Roger Federer has become the seventh billionaire athlete, according to Forbes. The report, which was released Friday, estimates that the former tennis player has a net value of $1.1 billion, largely due to his minority stake in a Swiss shoe and apparel company called On. Federer, 44, who retired in 2022, was the highest-paid tennis player for 16 years straight during his career thanks to lucrative business deals off the court, despite making less in prize money compared to his rivals Novak Djokovic and Rafael Nadal. Forbes estimates that the Swiss athlete collected roughly $1 billion before taxes and agents’ fees from appearances, endorsements, and other business endeavors. Most notably, his investment in shoe brand On helped fuel his wealth; after taking a minority stake estimated at around 3 percent, Federer helped the brand develop an on-court tennis shoe and a lifestyle clothing line. The tennis legend’s equity in the company is now worth more than $375 million. Federer is the second tennis player to reach this status; Ion Èširiac, a tennis player-turned-business tycoon, is worth $2.3 billion. Other athletes who have reached billionaire status include Michael Jordan, Magic Johnson, LeBron James, Cristiano Ronaldo, Lionel Messi, Floyd Mayweather, and Tiger Woods.
Read it at New York Post
