24 Hrs
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المشهد العربي
Federer drops from billionaire list after Upstream's fall
The share of On Holding declined by more than 20%, leading Roger Federer to lose $52 million of his wealth in one day, reducing his net worth to approximately $953 million and causing him to lose his billionaire status. Federer owned a 2.5% stake in the company he joined in 2019, which was his main investment, especially after launching exclusive products bearing his name. Despite the company's sales growing by 13% to $1.04 billion in the second quarter, it failed to meet analysts' expectations, which impacted his wealth.
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