Simone Biles Net Worth: How Much Is The Olympian Gymnast Worth?

The artistic gymnast from the United States, Simone Biles, is estimated to be worth $16 million. With 32 medals, Simone Biles is the all-time best American gymnast (both Olympic and World Championship medals). Simone is a world-renowned gymnast with numerous accolades to her name. According to many, Simone Biles is one of the greatest gymnasts of all time. Her best performances were at the 2016 Summer Olympics in Rio de Janeiro. At those games, she was a United States’ “Final Five” team member.

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Simone took home gold medals in the floor, vault, and all-around events at these competitions. As a part of the United States team, she earned a bronze medal on the balance beam and a gold one. Due to a COVID delay, the Summer Olympics in Tokyo was held in 2021 instead of 2020, and Simone only managed a bronze medal on the balancing beam and a silver medal with the team. After a bout of “the twisties,” a temporary loss of air balance awareness, she had to withdraw from the Olympics.

Before and after postponing the 2020 Olympic Games, Simone swiftly became the most-marketed American athlete in terms of endorsements. From numerous deals in the years before the games and ones that will continue, she has earned an estimated $20 million. Later in this post, we’ll discuss these trades in further detail.

Simone Biles’s Early Life

Columbus, Ohio-native Simone Biles was born on March 14, 1997. Throughout Simone’s childhood, she and her three siblings were regularly in and out of foster care. In 2000, Biles’ grandmother took a more active role in her upbringing, and she grew up in the suburbs of Houston, Texas, during this time. Because her mother is Belizean, Simone grew up in a Catholic environment with deep ties to her native country. She is still a Belizean citizen to this day.

Simone’s future as a professional gymnast was evident from an early age. As a result, she was expelled from school and forced to finish her secondary studies at home. Simone could train more than a third more, allowing her to compete at the top level in the Olympics before she had even started college.

Simone Biles’s Career

When Biles was eight years old, she was already working with coaches like Aimee Boorman. When she was fourteen, she competed in the American Classic in Houston. She placed third overall. At the 2012 Huntsville American Classic, she took first place. She was a member of the Junior National Team for the United States that year. Before competing in the City of Jesolo Trophy, she earned her senior international debut at the American Cup in 2013.

Simone Biles Net Worth

To improve her gymnastics, Márta Károlyi invited Simone to a private gymnastics camp, and she also began training with a sports psychologist. Simone was selected for the World Championships team due to her improved performance. She secured another first-place result in the 2013 Artistic Gymnastics Championships with yet another accurate display. She already had a remarkable ability to outperform more experienced international gymnasts at the age of 16 at this point.

Due to a shoulder injury, Biles’ 2014 season got off to a rocky start, but he made up for it by winning the US Classic in Chicago by a significant margin. At the World Artistic Gymnastics Championships, she helped the United States win a second gold medal and a second gold medal overall. She won the AT&T American Cup in Arlington, Texas, in 2015, her first time competing. She was nominated for the James E. Sullivan Award due to this performance. The City of Jesolo Trophy, the U.S. Classic, and the US National Championships were other triumphs.

At the 2014 World Artistic Gymnastics Championships in Glasgow, Scotland, American gymnasts, including Biles, represented the United States and won the championship for the third time. She had won 14 medals at the World Championships by this time. Biles was selected to represent the United States at the Summer Olympics in Brazil in 2016 after a streak of impressive results.

At the 2016 Olympics, Simone was a vital member of the United States’ gold-medal winning squad and finished as the top individual gymnast in four of the five individual finals. A gold medal in the individual all-around category followed her maiden Olympic gold medal in the team event. Four Olympic golds in total, she won bronze in the balance beam final and gold in the women’s floor exercise final. After a brief absence from competition, she resumed it in 2018 with new and improved routines.

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Endorsements

Over the years, Simone Biles has used brand endorsements to augment her gymnastics revenue. She and several other gymnasts appeared in a Tide commercial before the 2016 Olympics. She secured a long-term contract with Nike in 2015. Simone Biles leotards were to be produced by GK Elite Sportswear, who inked a deal with her the same year. During the summer of 2016, Simone and her teammates from the “Final Five” were featured on the cover of a Wheaties box. Simone received significant endorsement deals with the following brands, just to name a few, following her victory at the 2016 Olympic Games:

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

Simone was the highest-paid Olympic athlete in terms of endorsements leading up to and during the 2020 games. From 2019 through 2021, she raked in at least $20 million in endorsement fees. Simone announced in April 2021, only three months before the 2020 Olympic Games, that she was leaving Nike and signing with Athleta. Athleta agreed to host a national exhibition for Simone following the Olympics, directly competing with an exhibition of the exact nature that the United States of America typically organizes Gymnastics.

Athleta and Simone will also collaborate on a range of sportswear. When it was revealed that Simeone had quit Nike, it was because she no longer believed that the firm shared her ideals. Specifically, she was concerned about Nike’s recent track record of scandals, employee complaints, and other difficulties.

Relationships

Stacey Ervin Jr., a fellow gymnast, began dating Biles in 2017. The couple broke up in 2020 after dating for three years. That year, Simone made a big love announcement: she saw NFL star, Jonathan Owens.

Larry Nassar

Simone accused USA Gymnastics physician, Larry Nassar of sexual assault in 2018, joining a long list of current and former Olympians. USA Gymnastics, she said, with many of her teammates, allowed the abuse to go on for a long time. She also claimed that the group was trying to cover it up. She opted out of attending Nassar’s trial in 2018 because she wasn’t ready to face her abuser on an emotional level.

Real Estate

As of 2020, Biles shared photos of her new home on social media, revealing that she had purchased a new residence. Her new house included images displaying tile flooring and other details, but not many specifics were published about it. Despite her reputation as a thrifty person, Simone was willing to spend a little money on real estate. Biles stated in 2017 that she was selling the Houston, Texas, home she had grown up in. The house, which has a list price of $289,000 and is 3,711 square feet, went on the market last week.