Simone Biles Net Worth (Money & Salary)

What Is Simone Biles’ Net Worth?

With a net worth of $25 million, Simone Biles, an American artistic gymnast, stands out as the most decorated gymnast in American history, having accumulated over 30 medals from both Olympic and World Championship events. Many consider Biles to be the greatest gymnast ever. At present, she has achieved an impressive tally of seven Olympic gold medals, alongside two silvers and two bronzes. Additionally, Simone ranks among the highest-paid Olympic athletes globally. In the following section, we will explore her numerous major endorsement deals with some of the world’s biggest companies.

Some of her most remarkable achievements took place during the 2016 Summer Olympics, where she competed as a member of the US team, known as the “Final Five.” There, Simone secured individual gold medals in vault, floor, and all-around categories, while also earning a bronze on the balance beam, plus another gold as part of the US team. She holds a record of EIGHT U.S. championships, having won her first in 2013 when she was just 16 years old, and her eighth championship in August 2023 at the age of 26.

Sadly, at the 2020 Summer Olympics in Tokyo—held in 2021 due to COVID-19 delays—Simone faced challenges, finishing with a bronze on the balance beam and a silver alongside her team. She partially withdrew from the competition after experiencing a bout of “the twisties,” a condition when a gymnast momentarily loses their sense of balance in the air. Before and after the postponement of the 2020 games, Simone was the most marketed US athlete regarding endorsements, garnering approximately $20 million from various deals, with contracts that continue into the future.

Endorsements

Throughout her career, Simone Biles has diversified her income through a variety of brand endorsements. Prior to the 2016 Olympics, she gained fame by featuring in a Tide commercial alongside other gymnasts.

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

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

Following her triumph at the 2016 Olympics, Simone secured lucrative endorsement agreements 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

In the lead-up to and during the 2020 Olympics, Simone was recognized as the highest-paid Olympic athlete in endorsement earnings, with at least $20 million accrued from endorsements between 2019 and 2021.

In April 2021, only three months prior to the 2020 Olympics, Simone made headlines by announcing her decision to part ways with Nike and sign with Athleta. The agreement included a commitment from Athleta to organize a national exhibition for Simone post-Olympics, as a direct challenge to a similar exhibition typically arranged by USA Gymnastics. Simone and Athleta will collaborate on a line of activewear as well.

It has been reported that Simone left Nike because she felt the company no longer aligned with her values, particularly expressing concerns regarding Nike’s history of scandals, employee complaints, and other controversies that have surrounded the leading sportswear brand in recent years.

Early Life

Born on March 14, 1997, in Columbus, Ohio, Simone Arianne Biles experienced a challenging upbringing alongside her three siblings, frequently moving in and out of foster care. In 2000, her grandmother took an active role in her life, leading to Simone growing up in the suburbs of Houston, Texas. Raised in a Catholic environment, she maintained her strong Belizean heritage, as her mother hails from Belize. Even now, Simone possesses Belizean citizenship.

From an early age, it was evident that Simone had a bright future in gymnastics. Consequently, she was homeschooled for her secondary education, which enabled her to train over 33% more than her peers. By the time she was preparing for university, she was already competing at the highest levels in Olympic gymnastics.

Career

Starting her gymnastics journey at a young age, Biles was training with coaches like Aimee Boorman by the time she was 8. She achieved a third-place finish at the American Classic in Houston when she was 14. The following year, she secured first place at the American Classic held in Huntsville, earning her spot on the US Junior National Team. In 2013, she made her senior international debut at the American Cup, later competing at the City of Jesolo Trophy and helping secure a gold medal for the United States team.

Following a subpar showing at the 2013 US Classic, Simone received an invitation from Márta Károlyi to attend a private camp, and she began collaborating with a sports psychologist. This led to improved performances, and she was subsequently selected for the World Championships team. A standout display at the 2013 Artistic Gymnastics Championships resulted in another first-place finish for her. By this stage, the 16-year-old was quickly establishing herself as a remarkable talent, often surpassing much more experienced international gymnasts.

Although the start of 2014 was slow due to a shoulder injury, Biles made a significant comeback at the US Classic in Chicago, where she won by a considerable margin. She again competed in the World Artistic Gymnastics Championships, contributing to another victory and gold medal for the United States. In 2015, she secured first place at the AT&T American Cup in Arlington, Texas, earning a nomination for the James E. Sullivan Award. More triumphs came with victories at the City of Jesolo Trophy, the U.S. Classic, and the US National Championships.

Biles, along with fellow prominent American gymnasts, represented the United States at the 2014 World Artistic Gymnastics Championships in Glasgow, Scotland, where she claimed victory for the third straight time. By then, she had amassed a total of 14 World Championships medals. Her impressive streak of results continued into 2016, culminating in her selection to represent the United States at the Summer Olympics in Brazil that year.

At the 2016 Olympics, Simone played a crucial role in helping the US team secure first place and qualified as the overall top gymnast for four out of five individual finals. She swiftly won her first Olympic gold medal in the team event and followed this with a gold in the individual all-around category. Additionally, she earned a bronze medal in the balance beam final and another gold in the women’s floor exercise.

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After a brief hiatus from competition, she resumed her gymnastic career with enhanced routines in 2018, ultimately achieving a total of four Olympic gold medals.

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

Relationships

Simone began dating gymnast Stacey Ervin Jr. in 2017; however, their relationship ended in 2020 after three years. Later that year, she shared that she was in a relationship with professional football player Jonathan Owens. They got engaged on February 15, 2022, and exchanged vows on April 22, 2023.

Larry Nassar

In 2018, Simone joined many other current and former Olympians in accusing USA gymnastics physician Larry Nassar of sexual assault. She, along with her teammates, stated that USA Gymnastics played a significant role in allowing the abuse to persist for many years, and also accused the organization of trying to conceal the issue. She opted not to attend Nassar’s trial in 2018 due to her emotional readiness to confront her abuser.

Real Estate

In 2020, Biles revealed through social media that she had acquired a new home, sharing some photos of her new residence. While specific details about the property were scarce, it was evident that the home was both spacious and luxurious, featuring tile floors among other attractive aspects. Despite her well-known frugality, Simone seemed open to making a worthwhile investment in real estate, purchasing the property for 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 disclosed that she was selling her childhood home in Houston, Texas. The 3,711-square-foot property was listed for $289,000, and according to the HAR listing, it sold for a price range between $250,001 and $285,000.