Roger Federer's net worth falls below $1 billion after On Holding stock slump

Roger Federer On Holding net worth stock market crash sports business

Tennis legend Roger Federer has seen his net worth drop below the $1 billion mark following a significant decline in the stock price of On Holding, the Swiss sportswear company in which he holds a stake.

According to Forbes, Federer’s fortune fell by approximately $52 million in a single trading day, bringing his estimated net worth to roughly $952.4 million. The decline was triggered by On Holding’s second-quarter financial results; while the company reported a 13% year-on-year revenue increase to 850.3 million Swiss francs, the figure fell short of analyst expectations of 878.4 million Swiss francs.

In response to the earnings report and a downward revision of annual growth forecasts, On Holding shares plummeted by nearly 19% on the New York Stock Exchange. Federer, who has been a shareholder and design consultant since 2019, holds an estimated 2.5% to 3% stake in the company. Despite the market volatility, the company reported a net profit of 105 million Swiss francs for the quarter, a notable improvement from the previous year's loss.

Entities

Forbes · New York Stock Exchange · On Holding · Roger Federer · Rolex · Uniqlo · Wall Street Journal

Claims

What the coverage asserts, and how many sources carry each claim.

[● 3 SOURCES] Roger Federer's net worth has fallen to approximately $952 million. gong.bg · www.burgas24.bg · www.plovdiv24.bg
[● 3 SOURCES] Federer holds between 2.5% and 3% of On Holding's capital. gong.bg · www.burgas24.bg · www.plovdiv24.bg
[● 3 SOURCES] On Holding's annual sales forecasts were lower than analyst expectations. gong.bg · www.burgas24.bg · www.plovdiv24.bg
[● 3 SOURCES] The stock price of On Holding dropped by nearly 19%. gong.bg · www.burgas24.bg · www.plovdiv24.bg
[● 3 SOURCES] Federer lost at least $52 million due to the stock decline. gong.bg · www.burgas24.bg · www.plovdiv24.bg