Zurich, Switzerland – Roger Federer‘s early investment in Swiss sportswear brand On has yielded a considerable return, with his equity now valued at over $375 million. The brand’s meteoric rise culminated in a New York Stock Exchange (NYSE) listing in September 2021, just two years after Federer became an investor.
On debuted on the NYSE at a valuation that quickly climbed. Currently, the company boasts a market capitalization of approximately $15 billion (roughly 20.79 trillion Korean Won). The stock price has increased by 86% since its initial public offering, significantly boosting the value of Federer’s approximately 3% stake.
marc Maurer, co-chief executive officer of On in 2023, highlighted Federer’s impact on the company’s trajectory. “Federer was like an accelerator,” Maurer told Forbes. “We wanted to pioneer a new market, and it was clear that tennis was the next goal. Federer was vrey lucky to join the journey.” Federer officially partnered with On in 2019, becoming an investor and a key figure in promoting the brand, especially within the tennis world. Prior to the investment, On was known for its innovative CloudTec® cushioning technology and focus on enduring materials.
while Federer’s success is notable, he wasn’t the first tennis player to reach billionaire status through investments.Ilie Năstase, a Romanian tennis player who achieved success after the fall of communism, previously reached a net worth of $2.3 billion.
The sports world’s billionaire list is currently dominated by basketball players.Michael Jordan leads the pack, followed by Magic Johnson, LeBron James, and Junior Bridgeman. Golf icon Tiger Woods also holds billionaire status.
Reporter Yoon Ye-rim
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