Simone Biles Net Worth (Money & Salary)

What Is Simone Biles’ Net Worth?

With a net worth of $25 million, Simone Biles is a renowned American artistic gymnast. She stands as the most decorated American gymnast in history, boasting over 30 medals from Olympic and World Championship events. Many consider Biles to be the greatest gymnast of all time. Currently, she has achieved seven Olympic gold medals, two silver medals, and two bronze medals. Additionally, she ranks among the highest-paid Olympic athletes globally. In the following section, we will explore the numerous major endorsement deals she has with prominent companies.

Some of her remarkable achievements took place during the 2016 Summer Olympics while competing on the US team referred to as the “Final Five.” During these games, she garnered individual gold medals in floor, vault, and all-around categories, alongside a bronze on the balance beam and a gold as part of the US team. Notably, Simone has clinched the US championship title a record EIGHT times, starting her journey with her first championship win in 2013 at just 16 years old and concluding with her eighth title in August 2023 at 26.

Unfortunately, the 2020 Summer Olympics in Tokyo posed challenges for Simone, which were held in 2021 due to COVID-19 delays. She brought home a bronze on the balance beam and a silver as part of the team. A partial withdrawal from the competition came after experiencing “the twisties,” a condition where a gymnast temporarily loses awareness of their balance in the air. In the lead-up to the 2020 games, Simone was widely regarded as the most marketed US athlete in endorsement deals, reportedly earning around $20 million from various agreements that extend beyond the games.

Endorsements

Over the years, Simone Biles has enhanced her income from gymnastics through various brand endorsements. Before the 2016 Olympics, she notably featured in a Tide commercial alongside other gymnasts.

In 2015, Simone entered an exclusive, long-term partnership with Nike and established a contract with GK Elite Sportswear to create a line of Simone Biles leotards.

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

Following her success at the 2016 Olympics, Simone secured lucrative endorsement agreements with several brands, including but not limited to:

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

Leading up to and during the 2020 games, Simone was recognized as the highest-paid Olympic athlete in endorsement earnings, generating at least $20 million from 2019 to 2021.

In April 2021, just three months prior to the 2020 Olympics, Simone made headlines by announcing her departure from Nike to partner with Athleta. The arrangement included Athleta’s commitment to organizing a national exhibition for her after the Olympics, directly competing with a similar exhibition traditionally orchestrated by USA Gymnastics. Additionally, Simone and Athleta plan to launch a line of activewear.

Reportedly, Simone left Nike due to her feelings that the company’s values no longer aligned with hers, specifically citing concerns over Nike’s history of scandals, employee grievances, and various controversies that have surrounded the sportswear giant in recent times.

Early Life

On March 14, 1997, in Columbus, Ohio, Simone Arianne Biles was born. Throughout her childhood, she experienced frequent transitions in and out of foster care alongside her three siblings. Her grandmother became more involved in her upbringing starting in 2000, and during this time, Biles resided in the suburbs of Houston, Texas. Growing up in a Catholic household, she maintained a deep connection to Belize due to her mother’s Belizean heritage. She continues to hold Belizean citizenship today.

It was evident at an early age that gymnastics was Simone’s calling. Consequently, she was homeschooled after being taken out of class, enabling her to dedicate more than 33% additional time to training. Prior to embarking on her university journey, Simone was already competing at an Olympic level.

Career

Simone’s gymnastics journey began very early, with training under coaches like Aimee Boorman at the age of 8. By 14, she had her first competition at the American Classic in Houston, where she secured third place. In 2012, she triumphed at the American Classic in Huntsville, earning a top finish and subsequently earning a spot on the US Junior National Team. The following year, she made her senior international debut at the American Cup, later competing at the City of Jesolo Trophy, where she contributed to the US team’s gold medal victory.

Following a subpar performance at the 2013 US Classic, Simone caught the attention of Márta Károlyi, who invited her to a private training camp where she also began working with a sports psychologist. This led to improved outcomes, and Simone was later selected for the World Championships team. At the 2013 Artistic Gymnastics Championships, she achieved another first-place finish, proving her exceptional talent at just 16 years old, clearly outshining more seasoned international gymnasts.

Although 2014 started off slowly for Biles due to a shoulder injury, she made a strong comeback, winning the US Classic in Chicago decisively. Her participation in the World Artistic Gymnastics Championships once again saw the United States clinch another gold medal. In 2015, Biles dominated the AT&T American Cup in Arlington, Texas, which led to her nomination for the James E. Sullivan Award. More triumphs followed with wins at the City of Jesolo Trophy, the U.S. Classic, and the US National Championships.

Representing the United States alongside other prominent gymnasts, Biles achieved her third consecutive win at the 2014 World Artistic Gymnastics Championships in Glasgow, Scotland, bringing her total medal count to 14 at World Championships. Her momentum continued into 2016 when she was chosen to compete for the United States at the Summer Olympics in Brazil.

At the 2016 Olympics, Simone played a pivotal role in securing first place for the US team and also qualified as the top overall gymnast in four out of five individual finals. She clinched her first Olympic gold medal during the team event, followed by a gold in the individual all-around competition. Further adding to her accolades, she earned a bronze in the balance beam final and another gold in the women’s floor event.

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Simone Biles achieved her fourth Olympic gold medal after the final exercise. Following a short break from competition, she resumed her gymnastics career with enhanced routines starting in 2018.

In 2022, President Joe Biden honored Simone Biles with the Presidential Medal of Freedom.

Relationships

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

Larry Nassar

In 2018, Simone was among numerous current and former Olympians who accused USA gymnastics physician Larry Nassar of sexual assault. She and several teammates alleged that USA Gymnastics directly contributed to the prolonged abuse and accused the organization of trying to conceal it. Simone chose not to attend Nassar’s trial in 2018 due to not feeling emotionally prepared to confront her abuser.

Real Estate

In 2020, Biles took to social media to share that she had bought a new home. She showcased several images of her new residence, which appeared both spacious and luxurious, characterized by tile floors and other notable features. Although known for her frugality, Simone appeared ready to make a wise investment in real estate, with property records indicating the house cost less than $750,000.

In 2023, she announced that she and her husband, Jonathan Owens, were beginning construction on a new home.

Earlier, in 2017, Biles revealed she was selling her childhood residence located in Houston, Texas. The 3,711-square-foot home was listed for $289,000. The HAR listing indicates that the property sold for between $250,001 and $285,000.