Swiss shoemaker On is preparing for an IPO this fall that will reportedly value the company at $5 billion, according to Bloomberg. Roger Federer became an investor in On in late 2019. Reports at the time suggested that Federer had invested $50 million but it’s not clear how much of the company Federer owns.

On, based in Zurich, makes shoes for runners using its patented Cloutrec technology which ensures soft landing while still proving a secure fit for running. 

On introduced the all-white “The Roger” shoes in 2020. Earlier this year, Federer wore  On’s first tennis shoes, The Roger Pro, at the Qatar Open. The shoes were custom-made for Federer and are not available for sale to the public. But it is expected that On’s tennis shoes will be available for sale at a later date.

Federer has consistently been the highest-paid tennis player. Instead of endorsing On like he does other products and companies, he invested in the company because he liked the company’s shoes and bonded with the company’s founders.

Christie’s is conducting two auctions to benefit the Roger Federer Foundation. The items up for auction include Federer’s personal memorabilia from his 20 grand slam wins.

The estimate for the items ranges from £3,000 to £70,000. The first auction on June 23rd, 2021 will be held in London. The second auction will be held online from 23rd June 2021 to 14th June 2021.

Christie hopes to raise at least $2 million from the auction. Items on auction include racquets, shoes, and clothes Federer used during his most memorable matches.

The Roger Federer Foundation helps children living in poverty take control of their future by providing early education. The foundation has long-term relationships with local organizations to achieve its goal. The trustees of the foundation include the Federer family members and his agent Tony Godsick.