Roger Federer breaks into athlete billionaires club

Tennis superstar Roger Federer is now one of the few athletes who can count themselves a billionaire.

Federer, who won 20 Grand Slams between 2003 and 2018, amassed $130.6 million in prize money during a 24-year playing career that ended in 2022. But the bulk of the Swiss star’s wealth has come via a series of bumper sponsorship deals, alongside an astute investment in a local sneaker brand.

His net worth is about $1.3 billion, according to the Bloomberg Billionaires Index, putting him in elite company. Michael Jordan’s hit an estimated $3.5 billion after the sale of his stake in the Charlotte Hornets in 2023, while last year Bloomberg calculated Tiger Woods’ wealth at about $1.36 billion.

Federer is worth considerably more than $1 billion, according to people close to him who spoke on condition of anonymity. Bloomberg's valuation takes into account Federer's career earnings, investments and endorsement deals, adjusted for prevailing Swiss tax rates and market performance.

Many of his deals have lasted decades, from sponsorships with Credit Suisse bank (now UBS Group AG), watchmaker Rolex, and Swiss chocolatier Chocoladefabriken Lindt & Sprungli AG. Federer has also built a close advice network around him, including through Team8, the management company he co-founded with longtime agent Tony Godsick in 2013, and also Swiss firm Format A AG, which helps manage various investments and his charitable foundation.

“Federer is totally scandal free. He never says the wrong thing,” sports analyst Bob Dorfman said. “He hasn’t been a John McEnroe, feisty personality type. But in terms of marketability, he’s been one of tennis’s best.”

Federer’s biggest deals came near the end of his career.

By 2018, a rolling contract with Nike Inc. — first signed in 1996 — had come up for renewal. Tennis was not a core market for Nike, allowing Godsick to test the water with other potential partners. Uniqlo, a popular brand owned by Japan’s Fast Retailing Co., offered Federer $300 million over 10 years to be one of its flagship sports icons. Federer was 37 and close to retirement and the deal had no strings attached, even if he stopped playing. It was a no-brainer.

Still, it wasn’t Federer’s most successful deal. That was an investment that came via an accidental introduction by his wife, who bought a pair of sneakers from up-and coming Swiss brand On. There are plenty of bankers and lawyers in Switzerland, but not many sports brands. Founded in 2010, On had become known as a high-end jogging shoe. Its distinctive sole, with more empty space than rubber, was based off a prototype made by co-founder Olivier Bernhard — a former pro-Ironman — taping offcuts of garden hose to the base of his trainers.

Unlike with Nike, Federer could hunt for a footwear sponsor because Uniqlo doesn’t make shoes. A sneaker nut who owns well over 250 pairs of trainers (not including ones he played in), Federer called On’s founders for dinner in Zurich. Godsick also had a connection with them via an angel investment in the firm. Eventually, a deal was struck for Federer to buy a roughly 3% stake in On Holding AG and to spend time in its lab designing his own shoe.

On is now worth close to $17 billion, making Federer’s stake at least $500 million, according to Bloomberg's wealth index.

Federer has so far avoided overexposure via commentary roles or dubious sponsorships. He recently waved the French flag to start the Le Mans endurance car race, and launched a new Uniqlo clothing collection in Paris. He’ll also likely be at Wimbledon — home to his greatest triumphs — when it begins next week.