Federer pockets half a billion dollars after retirement

Magazine dataForbesshows that Swiss sneaker brand On has generated nearly $2 billion in revenue just one year after its 2022 initial public offering (IPO). On's market capitalization after the IPO is up to $10 billion. This helps Federer, who owns 3% of the company, increase his fortune by $300 million.

Federer is now On’s global ambassador, design partner and investor. The Swiss legend invested in On in 2019, a year after ending his apparel sponsorship deal with Nike. Federer learned about On through his wife, Mirka, who wears the Swiss brand’s top sneakers.

Before Federer invested, On only had market share in Switzerland and a few European countries. After the Covid-19 pandemic, this brand grew strongly, selling globally.

In addition to his successful investment in On, Federer still earns a steady $30 million a year in a 10-year contract with clothing company Uniqlo since 2018. Federer has now earned $150 million from Uniqlo despite playing very little in the final years of his career, before hanging up his racket in the summer of 2022. Like On, Uniqlo chose Federer as its global ambassador, seeing him as an icon beyond tennis.

According to Forbes, Federer was paid $10 million a year for wearing Nike’s entire apparel lineup, including its shoes, during the final 10 years of his contract. After parting ways with Nike in 2018, ending a partnership of more than two decades, Federer continued to wear the brand’s shoes for nearly a year before investing in On.

Federer earned $130 million in prize money over his career, but he has earned 10 times that amount through investments and sponsorships. According to Celebrity Net Worth, the Swiss superstar earned no less than $1 billion before retiring. He is the only tennis player and the seventh athlete in history to reach this milestone while still playing. The other six are Tiger Woods, Floyd Mayweather, LeBron James, Phil Mickelson, Cristiano Ronaldo and Lionel Messi.