Simone Biles Net Worth (Money & Salary)

What Is Simone Biles’ Net Worth?

With a net worth of $25 million, Simone Biles stands out as an iconic American artistic gymnast. Recognized as the most decorated American gymnast ever, she boasts over 30 medals from both Olympic and World Championship events. Many consider her the greatest gymnast in history. At present, her impressive collection includes seven Olympic gold medals, two silver medals, and two bronze medals. Furthermore, she ranks among the highest-paid Olympic athletes globally. In the upcoming section, we will explore the numerous significant endorsement deals she has secured with some of the world’s largest corporations.

Among her most remarkable achievements were those at the 2016 Summer Olympics, where she was part of the US team dubbed the “Final Five.” At these Olympics, Simone triumphed by winning gold medals in floor, vault, and all-around, alongside a bronze on the balance beam and a gold medal as part of the US team. Notably, she has made history by winning the US championship a staggering EIGHT times, securing her first title in 2013, at age 16, and her eighth title in August 2023, at age 26.

Unfortunately, during the 2020 Summer Olympics in Tokyo—held in 2021 due to COVID—Simone faced challenges, earning a bronze medal on the balance beam and a silver medal with her team. She partially withdrew from the competition after experiencing “the twisties,” a condition that leads gymnasts to lose their sense of air balance. Leading up to the 2020 games, both before and after the postponement, Simone was the most heavily marketed US athlete concerning endorsements, amassing approximately $20 million from various deals in the years leading to the event, along with ongoing future contracts.

Endorsements

Over the years, Simone Biles has enhanced her gymnastics earnings through a variety of brand endorsements. Notably, before the 2016 Olympics, she appeared in a Tide commercial, sharing the screen with several other gymnasts.

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

In August 2016, Simone featured on the cover of a special edition Wheaties box along with her “Final Five” teammates.

Following her achievements at the 2016 games, Simone signed highly lucrative endorsement contracts with numerous brands, including:

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

During the lead-up to and during the 2020 games, Simone emerged as the highest-paid Olympic athlete in terms of endorsements, earning no less than $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 and her new partnership with Athleta. This deal included a commitment from Athleta to organize a national exhibition for her post-Olympics, directly challenging a similar event traditionally held by USA Gymnastics. Additionally, Simone and Athleta plan to create a line of activewear together.

Reportedly, Simone left Nike due to a mismatch with her personal values, citing concerns over the company’s history of scandals, employee grievances, and controversies that have plagued the sportswear giant in recent years.

Early Life

Born on March 14, 1997, in Columbus, Ohio, Simone Arianne Biles grew up with her three siblings, frequently navigating the foster care system. In 2000, her grandmother began to take an active part in her upbringing, and during this time, Biles settled in the suburbs of Houston, Texas. Raised in a Catholic household, Simone nurtured strong connections to Belize through her mother, who hails from there. As a result, she retains Belizean citizenship to this day.

It was evident from a young age that Simone was meant to pursue a professional gymnastics career. Consequently, she was taken out of traditional schooling and continued her education at home, which allowed her to train over 33% more. By the time she was ready for university, she was already competing at the highest level in the Olympics.

Career

Starting her gymnastics career at a very young age, Simone was training with coaches like Aimee Boorman by the time she turned 8. At the age of 14, she made a mark at the American Classic held in Houston, finishing in third place. In 2012, she secured first place at the American Classic in Huntsville, which led to her being named to the US Junior National Team that same year. Simone debuted on the senior international stage at the American Cup in 2013, later contributing to a gold medal victory for the United States team at the City of Jesolo Trophy.

After a lackluster showing at the 2013 US Classic, Simone received an invitation from Márta Károlyi to a private camp, during which she began collaborating with a sports psychologist. This resulted in improved performances, culminating in her selection for the World Championships team. Her standout performance at the 2013 Artistic Gymnastics Championships resulted in another first-place finish. By now, the 16-year-old gymnast was already showcasing incredible potential, surpassing seasoned international competitors.

The start of 2014 was slow due to a shoulder injury; however, Biles made a strong comeback by winning the US Classic in Chicago. She continued to excel at the World Artistic Gymnastics Championships, once again aiding the United States in achieving another gold medal. In 2015, she topped the AT&T American Cup in Arlington, Texas, earning a nomination for the James E. Sullivan Award. Her success continued with victories at the City of Jesolo Trophy, the U.S. Classic, and the US National Championships.

Competing alongside other prominent American gymnasts, Biles participated in the 2014 World Artistic Gymnastics Championships in Glasgow, Scotland, winning the competition for the third consecutive time. At this point, she had amassed 14 World Championships medals. Her list of achievements continued in 2016, leading to her selection to represent the United States in that year’s Summer Olympics held in Brazil.

At the 2016 Olympics, Simone helped the US team secure first place, and she qualified as the top gymnast in four out of five individual finals. She went on to win her first Olympic gold medal in the team event, followed by a gold medal in the individual all-around competition. Additionally, she earned a bronze in the balance beam final and another gold in the women’s floor exercise.

After a brief break from competition, she resumed her gymnastic career with upgraded routines starting in 2018, culminating in her final exercise for a total of four Olympic gold medals.

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

Relationships

Biles started dating Stacey Ervin Jr., another gymnast, in 2017, but after three years together, they parted ways in 2020. Later that year, she revealed she was in a relationship with professional football player Jonathan Owens. The couple became engaged on February 15, 2022, and tied the knot on April 22, 2023.

Larry Nassar

In 2018, Simone joined numerous current and former Olympians in accusing USA gymnastics physician Larry Nassar of sexual assault. Like many of her teammates, she asserted that USA Gymnastics was complicit in allowing the abuse to persist for an extended period and claimed the organization made attempts to conceal the situation. She chose not to attend Nassar’s trial in 2018 due to feeling emotionally unprepared to confront her abuser.

Real Estate

In 2020, Biles took to social media to announce her purchase of a new home, sharing several pictures of the place. While specific details about her residence were limited, it was evident that it was both spacious and luxurious, highlighted by images displaying tile floors and various features. Despite her well-known thriftiness, it appeared that Simone was willing to invest wisely in real estate, with property records indicating the house cost under $750,000.

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

Previously, in 2017, Biles declared her childhood home in Houston, Texas, was up for sale. The 3,711-square-foot property was listed at $289,000, and according to the HAR listing, it sold for an amount between $250,001 and $285,000.