Retirement continues to smile on tennis legend Roger Federer after his net worth took another turn for the better thanks to a lucrative off-court investment
Tennis hasn’t been the primary source of Roger Federer’s income for some time now, and the retired icon continues to prove himself a competent mind away from the court. That’s after a recent return on one of the star’s shrewdest investments following some better-than-expected performance.
Federer, 41, is a ‘friend and partner’ at On Shoes, who became attached to the company in late 2019 after investing an undisclosed amount in its brand. It remains uncertain as to how much of a stake Federer holds in the company given it falls below the five per cent required for public disclosure, though Sportico estimated in September 2021 that it was ‘in the three per cent range’.
And business has boomed since then, with the Swiss company’s fourth-quarter report for 2022 showing a 92 per cent rise in revenue for the final four months of the year. The results mean On is now expecting worldwide sales in 2023 to exceed their initial estimates by around $200million.
“On’s full-year revenue was $1.3billion (CHF 1.22 billion), up 69 per cent versus the prior 12 months, while net income was $62m versus a $184m loss in 2021, based on current exchange rate,” wrote Sportico valuation reporter Kurt Badenhausen.
