Here's your Forbes Daily Briefing for Tuesday, August 26th. Today on Forbes, tennis legend Roger

Federer is now a billionaire. In 2019, Roger Federer stood at center court in Basel, Switzerland,

with gold confetti raining from above and tears streaming down his face. The show of emotion was natural

after a straight sets victory in the final at his hometown tournament, the Swiss Indoor's,

where he had once served as a ball boy. But it also seemed to reflect a growing awareness that,

at age 38, he might not have many more such moments as a professional tennis player.

In fact, that trophy proved to be the last one that Federer would ever hoist,

with injuries severely limiting his final three years on the ATP tour

before he finally hung up his racket in September 2022.

But even though Federer, now 44 years old, never added another piece of hardware to a collection

that also included 20 Grand Slam singles titles and two Olympic medals, he remained tennis's

highest paid player all the way to the end, and into retirement. Now, Forbes estimates that Federer

is a billionaire, with a net worth of $1.1 billion,

thanks in part to a significant minority stake in publicly traded Swiss shoe and apparel brand

on.

Federer, whose father from a prominent Swiss family and whose mother, raised in South Africa,

both worked for a pharmaceutical

company, started playing tennis at age three. He became the world's top-ranked junior player,

and after turning pro in 1998, made his breakthrough in 2003 by claiming the singles title at

Wimbledon. Over his 24-year ATP tour career, Federer spent 310 weeks as the top-ranked men's singles

player and won 103 tournaments while hauling in nearly $131 million in prize money,

still the third best total in tennis history, behind only his rivals Novak Djokovic with

...