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Roger Federer Loses USD 52 Million Overnight And Billionaire Status; Here's What Happened
['Prateek Thakur', 'Written', 'Read More']
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Roger Federer has slipped below billionaire status after a sharp fall in the share price of Swiss sportswear company On Holding wiped more than USD 52 million from his estimated fortune.
The tennis legend’s net worth fell to USD 952.4 million as of 12:30 p.m. Tuesday, according to Forbes estimates cited in the report.
Federer Remains Close To The USD 1 Billion MarkDespite the setback, Federer remains just under billionaire status.
The company posted 105 million Swiss francs (USD 129.4 million) in net income, compared with a 40.9 million-franc loss during the same period last year.
For Federer, however, the immediate market reaction was enough to take his estimated fortune back below the billionaire milestone.