Simone Biles Net Worth (Money & Salary)

What Is Simone Biles’ Net Worth?

With a net worth of $25 million, Simone Biles is an American artistic gymnast. Often regarded as the most accomplished American gymnast ever, she boasts over 30 medals from both Olympic and World Championship events. Many consider Biles to be the greatest gymnast in history. At present, she has secured seven Olympic gold medals along with two silver medals and two bronze medals. Further emphasizing her status, Simone ranks among the highest-paid Olympic athletes worldwide. In the upcoming section, we will discuss her numerous substantial endorsement agreements with major companies globally.

Significant achievements for Simone arose during the 2016 Summer Olympics, where she participated as a member of the US team known as the “Final Five.” Throughout these games, she garnered individual gold medals in floor, vault, and all-around competitions. Additionally, she earned a bronze on the balance beam and another gold as a part of the US team. With a record of EIGHT titles, Simone has dominated the US championships, clinching her initial championship in 2013 at the age of 16, and her eighth one in August 2023 when she was 26 years old.

Regrettably, Simone faced challenges during the 2020 Summer Olympics held in Tokyo, which took place in 2021 due to COVID delays, achieving a bronze on the balance beam and a silver with her team. She experienced a partial withdrawal from the competitions owing to a bout of “the twisties,” a condition where a gymnast temporarily loses awareness of their air balance. Prior to the 2020 Olympics—both before and after the postponement—Simone emerged as the most prominently marketed US athlete regarding endorsements, reportedly earning around $20 million from various deals in the years leading up to the games, with contracts extending into the future.

Endorsements

Over the years, Simone Biles has augmented her gymnastics earnings through a variety of brand endorsements. Before the 2016 Olympics, she famously participated in a Tide advertisement featuring several other gymnasts.

In 2015, she entered a long-term exclusive deal with Nike as well as a contract with GK Elite Sportswear to create a line of Simone Biles leotards.

In August 2016, alongside her “Final Five” teammates, Simone graced the cover of a special edition Wheaties box.

Following her remarkable success at the 2016 Olympics, Simone secured lucrative endorsement contracts with several brands, including:

• United Airlines
• The Hershey Company
• Procter & Gamble
• Mattress Firm
• Spieth America
• Beats by Dre
• Athleta
• Visa
• Oreo
• Uber Eats
• MasterClass
• Facebook Watch

Heading into and during the 2020 games, she was recognized as the highest-paid Olympic athlete concerning endorsements, amassing at least $20 million from endorsements between 2019 and 2021.

In April 2021, a mere three months prior to the 2020 Olympics, Simone made headlines by announcing her departure from Nike to join Athleta. This deal included commitments from Athleta to host a national exhibition for Simone post-Olympics, competing directly with a similar exhibition traditionally held by USA Gymnastics. Together, Simone and Athleta will also create a line of activewear.

Simone reportedly left Nike because she felt the company’s values no longer aligned with hers. In particular, she expressed concerns about Nike’s history of scandals, employee grievances, and various controversies that have recently plagued the leading sportswear brand.

Early Life

Born on March 14, 1997, in Columbus, Ohio, Simone Arianne Biles experienced a childhood marked by frequent transitions in and out of foster care alongside her three siblings. In 2000, her grandmother took on a significant role in her upbringing, leading Biles to grow up in the suburbs of Houston, Texas. Raised in a Catholic environment, Simone has maintained her strong Belizean roots through her mother, who is from Belize, resulting in her dual citizenship to this day.

It quickly became apparent that a career in gymnastics was in Simone’s future. As a result, she was withdrawn from traditional schooling and received homeschooling for her secondary education, allowing her to dedicate significantly more time to training. By the time she was ready for higher education, Simone was already competing at the Olympic level.

Career

Simone began her gymnastics journey at a remarkably young age, training with coaches such as Aimee Boorman by the time she reached 8 years old. She secured a third-place finish at the American Classic in Houston when she was only 14. In the same year, she clinched first place at the American Classic in Huntsville and earned a place on the US Junior National Team. Her senior international debut occurred in 2013 at the American Cup, where she later contributed to a gold medal win for the U.S. team at the City of Jesolo Trophy.

Following a less than stellar performance at the 2013 US Classic, Simone received an invitation to a private camp from Márta Károlyi and began working with a sports psychologist. This led to improved results, and she was ultimately selected for the World Championships team. Another standout performance at the 2013 Artistic Gymnastics Championships led her to a first-place finish, showcasing the incredible talent of this promising 16-year-old gymnast who was excelling against far more seasoned international competitors.

After a slow start in 2014 due to a shoulder injury, Biles made a triumphant return by winning the US Classic in Chicago by a considerable margin. She also participated in the World Artistic Gymnastics Championships, aiding the United States in securing another victory and gold medal. In 2015, her first place finish at the AT&T American Cup in Arlington, Texas earned her a nomination for the James E. Sullivan Award, followed by additional wins at the City of Jesolo Trophy, the U.S. Classic, and the US National Championships.

Representing the United States alongside other elite gymnasts, Biles competed at the 2014 World Artistic Gymnastics Championships in Glasgow, Scotland, claiming victory for the third consecutive year. At this stage, she had amassed a total of 14 World Championships medals. Continuously strong performances in 2016 led to her selection for the Summer Olympics in Brazil that year.

Simone played a pivotal role in enabling the US team to secure first place at the 2016 Olympics, while individually, she qualified as the top gymnast in four of the five finals. She quickly won her first Olympic gold medal during the team event, followed by another gold in the individual all-around competition. Moreover, she earned a bronze in the balance beam final and yet another gold in the women’s floor event.

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Simone Biles achieved her final milestone, collecting a total of four Olympic gold medals. After a short break from competition, she resumed her gymnastics journey with enhanced routines starting in 2018.

The Presidential Medal of Freedom was awarded to Simone Biles by President Joe Biden in 2022.

Relationships

In 2017, Biles entered into a relationship with fellow gymnast Stacey Ervin Jr. However, the couple parted ways in 2020 after three years together. That same year, she revealed she started dating Jonathan Owens, a professional football player. They became engaged on February 15, 2022, and celebrated their marriage on April 22, 2023.

Larry Nassar

In 2018, many current and former Olympians, including Simone, came forward to accuse USA gymnastics physician Larry Nassar of sexual assault. Like her teammates, she alleged that USA Gymnastics had a direct role in permitting the abuse to persist for an extended period and accused the organization of trying to hide it. Simone opted not to attend Nassar’s trial that year as she felt unprepared emotionally to confront her abuser.

Real Estate

In 2020, Biles took to social media to announce the purchase of a new home, sharing several photos of her new abode. While not many specifics were revealed, it was evident that the residence was both spacious and luxurious, showcasing tile floors among other features. Despite her well-known practicality, Simone seemed inclined to make a comfortable real estate investment, spending less than $750,000 on the property.

In 2023, she shared that she and her husband, Jonathan Owens, had begun construction on a new home.

Earlier in 2017, Biles had revealed plans to sell her childhood home located in Houston, Texas. The 3,711-square-foot property was listed for sale at $289,000. As per the HAR listing, the home ultimately sold for between $250,001 and $285,000.