Simone Biles Net Worth (Money & Salary)

What Is Simone Biles’ Net Worth?

With a net worth of $25 million, Simone Biles is recognized as an outstanding American artistic gymnast. She has achieved more than 30 medals (comprising both Olympic and World Championship medals), marking her as the most accomplished American gymnast to date. Many consider her the greatest gymnast ever. As of this moment, she has secured seven Olympic gold medals, alongside two silver medals and two bronze medals. Notably, Simone stands as one of the highest-paid Olympic athletes on a global scale. The next section elaborates on her numerous significant endorsement deals with some of the world’s largest corporations.

Noteworthy achievements for Simone took place during the 2016 Summer Olympics, where she was part of the US team known as the “Final Five.” She earned individual gold medals in floor, vault, and all-around, alongside a bronze on the balance beam and another gold with her team. Furthermore, Simone holds an impressive record of winning the US Championship EIGHT times. Her journey began with her first championship win in 2013 at the age of 16, culminating in her eighth championship victory in August 2023 at the age of 26.

The 2020 Summer Olympics in Tokyo, held in 2021 due to COVID delays, presented challenges for Simone, resulting in a bronze on the balance beam and a silver with the team. She underwent partial withdrawal from the competition after experiencing “the twisties,” a condition causing temporary loss of air balance awareness. Preceding the 2020 Olympics, both before and after its postponement, Simone was considered the most marketed US athlete regarding endorsements, earning around $20 million from various deals leading up to the event, with contracts extending well into the future.

Endorsements

Over the years, Simone Biles has enhanced her gymnastics earnings through numerous brand endorsements. Prior to the 2016 Olympics, she notably starred in a Tide commercial featuring several other gymnasts.

In 2015, she entered into an exclusive, long-term agreement with Nike, along with a contract with GK Elite Sportswear to develop a line of Simone Biles leotards.

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

Following her success at the 2016 Olympics, she secured highly lucrative endorsement contracts with various brands, some of which include:

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

In the lead-up to and during the 2020 Olympics, Simone held the title of the highest-paid Olympic athlete concerning endorsements. Between 2019 and 2021, she garnered at least $20 million from these partnerships.

In April 2021, just three months before the 2020 Olympics, Simone made headlines by announcing her departure from Nike in favor of a new deal with Athleta. The agreement included a commitment from Athleta to host a national exhibition for Simone post-Olympics, competing directly with a similar exhibition typically organized by USA Gymnastics. Additionally, Simone and Athleta plan to release a line of activewear.

Reports indicate that Simone left Nike due to a perceived misalignment with her values. She expressed concerns regarding Nike’s history of scandals, employee complaints, and various controversies that have plagued the leading sportswear brand in recent years.

Early Life

Born on March 14, 1997, in Columbus, Ohio, Simone Arianne Biles experienced a childhood filled with the challenges of being in and out of foster care with her three siblings. In 2000, her grandmother took an active role in her life, allowing Simone to grow up in Houston, Texas suburbs. Growing up in a Catholic home, she cherished her Belizean heritage as her mother is from Belize, and she continues to hold Belizean citizenship.

From a young age, it was evident that Simone was on the path to becoming a professional gymnast. As a result, she was homeschooled, allowing her to devote over 33% more time to training, and before entering university, she was already competing at the Olympic level.

Career

Starting her gymnastics journey early, by age 8, Biles was training under coaches such as Aimee Boorman. At 14, she participated in the American Classic in Houston, securing third place. In 2012, she triumphed at the American Classic in Huntsville, which earned her a spot on the US Junior National Team. She made her senior international debut in 2013 at the American Cup, followed by participation in the City of Jesolo Trophy, where she contributed to the USA’s gold medal win.

After a subpar performance at the 2013 US Classic, Simone received an invitation from Márta Károlyi to attend a private camp, and she began working with a sports psychologist. Improved results followed, leading to her inclusion in the World Championships team. A standout performance at the 2013 Artistic Gymnastics Championships resulted in her achieving another first-place finish, establishing her as a remarkable talent capable of outshining far more experienced international gymnasts.

A shoulder injury hampered her progress at the beginning of 2014, but Biles rebounded impressively, winning the US Classic in Chicago with ease. She participated once again in the World Artistic Gymnastics Championships, assisting the United States in achieving another victory and winning a gold medal. The following year, at the AT&T American Cup in Arlington, Texas, she finished first, which secured her a nomination for the James E. Sullivan Award. Additional victories followed at the City of Jesolo Trophy, the U.S. Classic, and the US National Championships.

Biles competed along with prominent American gymnasts at the 2014 World Artistic Gymnastics Championships in Glasgow, Scotland, clinching first place for the third consecutive year. At this point, she had garnered a total of 14 World Championships medals. A series of strong performances carried through into 2016, resulting in her selection to represent the United States at the Summer Olympics in Brazil that year.

Simone played an integral role in helping the US team secure first place at the 2016 Olympics, while also qualifying as the leading gymnast in four out of five individual finals. She quickly claimed her first Olympic gold medal in the team event, followed by another gold in the individual all-around category. Additionally, she earned a bronze in the balance beam final and yet another gold in the women’s floor discipline.

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After a brief hiatus from competition, Simone Biles continued her gymnastics journey with upgraded routines from 2018 onward, culminating in a total of four Olympic gold medals.

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

Relationships

Beginning in 2017, Biles dated fellow gymnast Stacey Ervin Jr. for three years before their split in 2020. That same year, she revealed that she started dating NFL player Jonathan Owens. The couple got engaged on February 15, 2022, and went on to marry on April 22, 2023.

Larry Nassar

In 2018, Simone joined several other present and former Olympians in accusing Larry Nassar, a USA Gymnastics physician, of sexual assault. She, along with many teammates, asserted that USA Gymnastics was complicit in enabling the abuse to persist for years, and she accused the organization of attempting to conceal the issue. Opting not to attend Nassar’s trial in 2018, she cited her emotional unpreparedness to confront her abuser.

Real Estate

In 2020, Biles shared on social media the news of her new home purchase, showcasing a few images of the property. While not many details surfaced about her new residence, it was evidently spacious and luxurious, featuring tile floors and stunning finishes. Despite her well-known frugality, it seems Simone was ready to make a smart investment in real estate, as property records indicate the house was bought for under $750,000.

In 2023, Simone revealed that she and her husband, Jonathan Owens, were starting construction on a new home.

Earlier, in 2017, Biles had announced her decision to sell her childhood home in Houston, Texas. The 3,711-square-foot property entered the market with an asking price of $289,000, ultimately selling for between $250,001 and $285,000, according to the HAR listing.