Roger Federer has earned the title of "billionaire," according toForbes The 20-time Grand Slam Champion is estimated to be worth $1.1 billion A large portion of his fortune comes from his 2019 investment in the Swiss sportswear company, On Roger Federerhas earned a very exclusive new title. The 20-time Grand Slam Champion is now a billionaire, asForbesannounced on Friday, Aug. 22, that it estimates his net worth at about $1.1 billion. The tennis star, 44, is among the highest-paid tennis players ever. He scored nearly $131 million in prize money over his 24-year Association of Tennis Professionals career, behind onlyNovak Djokovic's $189 million total andRafael Nadal's $135 million. However, it was his investment in the Swiss sports apparel companyOnin 2019 that has steadily raised his net worth. He now holds a significant stake in the company. He was first introduced to On when his wife,Mirka, started wearing the brand's sneakers. Soon after, he contacted the company's founders, David Allemann, Olivier Bernhard and Caspar Coppetti, and then took an equity stake in the business. He then helped the brand create an on-court tennis shoe, as well as a lifestyle apparel line. The company went public on the New York Stock Exchange in 2021, and now has a market capitalization of nearly $15 billion. The athlete holds 3% stake, making his equity worth more than $375 million, perForbes. Karwai Tang/WireImage His investment in On follows the various high-profile sponsorships he received throughout his career. In 2018, he left Nike andsigned with Uniqlo for a $300 millioncontract that would span over 10 years. Meanwhile, Nike paid him roughly $150 million over two decades. He was also sponsored by Lindt, Mercedes-Benz, Rolex and Moët & Chandon. Along with his investment in On, he has invested in a variety of companies throughout the years, including private plane operator NetJets, eyewear brand Oliver Peoples and UBS bank. In 2013, he and Tony Godsick cofounded management company Team8, and then four years later, created the Laver Cup. The event is an annual team tennis tournament comprised of six European men playing against six international players. He now becomes the seventh athlete to become a billionaire, and the second ever tennis player, following Ion Tiriac. In 2014,ForbesestimatedthatMichael Jordanbecame a billionaire and is now worth $3.8 billion.Magic Johnsonjoined the club inOctober 2023and now has a net worth of $1.5 billion.Junior Bridgemanhad a $1.4 billion fortune at the time of his death in March. LeBron JamesandTiger Woodsare the only athletes in the exclusive group to be billionaires while still playing in their sports.Forbesestimated that James, 40, reached billionaire status inJune 2022and now has a net worth of $1.2 billion. Woods, 49,earned the title that same monthand now has a fortune of $1.3 billion. Read the original article onPeople