Tennis icon Roger Federer becomes seventh ever billionaire athlete, Forbes says

Roger Federer arrives at the Oscars on Sunday, March 10, 2024, at the Dolby Theatre in Los Angeles.

Tennis icon Roger Federer has become the seventh billionaire athlete in history, according to estimates published by Forbes on Friday.

The Swiss star, who retired from the sport in 2022, is now believed to have a net worth of US$1.1 billion, boosted by his minority stake in Swiss shoe and apparel brand On.

Having collected around $1 billion in off-court endeavors during his playing career, Federer was tennis’ highest-paid player for 16 straight years despite earning less in prize money than rivals Novak Djokovic and Rafael Nadal.

In 2020, he earned $106.3 million before tax, more than any other athlete in the world.

Federer becomes tennis’ second billionaire, following Romanian player Ion Țiriac, who won the 1970 French Open men’s doubles championship and began investing after the fall of communism.

Also on the list are basketball stars Michael Jordan, Magic Johnson and LeBron James, as well as Milwaukee Bucks sixth man Junior Bridgeman. Tiger Woods rounds out the list and joins James as the only players to have become billionaires while still competing in their sports.

Carlos Alcaraz was named by Forbes on Friday as the highest-paid active tennis player over the last 12 months for the second year in a row, having earned $48.3 million. Only Federer, Djokovic and Naomi Osaka have ever earned more in a single year.

Jannik Sinner, who is the men’s world No. 1 and whose burgeoning rivalry with Alcaraz is increasingly shaping the sport, is second on the list. He made $47.3 million, almost double the $26.6 million he earned in the 12 months prior.

The Italian earned $20.3 million directly from tennis this year, the third highest total since Forbes’ records began, and significantly more than Alcaraz. Only Djokovic, in Forbes’ 2016 and 2019 lists, has ever earned more directly from the sport in a single year.

Coco Gauff placed third on this year’s list, having earned $37.2 million – more than any other female athlete over the last 12 months.

Her placement means that – for the first time since Federer, Maria Sharapova and Nadal in 2010 – each of the top three are under 30.

In total, the top 10 highest earners made a combined $285 million, up 16% from last year but still significantly less than the record of $343 million in 2020.

By Jamie Barton, CNN