Simone Biles Net Worth (Money & Salary)

What Is Simone Biles’ Net Worth?

With a net worth of $25 million, Simone Biles stands as a prominent American artistic gymnast. She holds the title of the most accomplished American gymnast in history, boasting over 30 medals from both the Olympics and World Championships. Many consider her to be the greatest gymnast ever. To date, Simone has secured seven Olympic gold medals, in addition to two silver and two bronze medals. In the global ranking of Olympic athletes by earnings, she is recognized as one of the highest-paid. As we’ll explore in the upcoming section, she has entered into numerous major endorsement agreements with some of the most influential corporations worldwide.

Her remarkable achievements were particularly highlighted during the 2016 Summer Olympics. Competing as a member of the US team dubbed the “Final Five,” Simone dominated the individual events, clinching gold medals in floor, vault, and all-around categories, along with a bronze on the balance beam and another gold as part of the team. Notably, Simone holds the record for the most US championship titles, having won a total of EIGHT times. She first captured the US championship in 2013 at the young age of 16, and her eighth title came in August 2023 at age 26.

Regrettably, Simone faced challenges at the 2020 Summer Olympics held in Tokyo, which occurred in 2021 due to a COVID-19 delay. She secured a bronze medal on the balance beam and contributed to the team’s silver medal. A notable moment during the games was her partial withdrawal, which arose from experiencing “the twisties,” a condition where a gymnast momentarily loses focus on her air balance. Before and after the postponement of the 2020 games, Simone was the most heavily marketed US athlete regarding endorsements, raking in around $20 million from various deals leading up to the event, with contracts that extend into future engagements.

Endorsements

Over the years, Simone Biles has expanded her income through numerous brand endorsements. Noteworthy is her participation in a Tide commercial alongside several other gymnasts before the 2016 Olympics.

In 2015, she secured a long-term exclusive agreement with Nike as well as a contract with GK Elite Sportswear, responsible for creating a line of leotards named after her.

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

Following her triumph at the 2016 Olympics, Simone inked several prestigious endorsement deals with various 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

During the lead-up to and throughout the 2020 games, Simone emerged as the top-paid Olympic athlete from endorsement deals, accumulating at least $20 million from 2019 to 2021.

In April 2021, just three months ahead of the 2020 Olympics, Simone made headlines by announcing her departure from Nike to join Athleta. The agreement included a pledge from Athleta to organize a national exhibition for Simone post-Olympics, directly competing with traditional exhibitions arranged by USA Gymnastics. Additionally, Simone and Athleta planned to collaborate on a line of activewear.

Simone’s exit from Nike stemmed from her feelings that the company no longer aligned with her values. She expressed concerns about Nike’s reputation, which has been marred by various scandals, employee grievances, and ongoing controversies affecting the well-known sportswear brand in recent times.

Early Life

On March 14, 1997, Simone Arianne Biles was welcomed into the world in Columbus, Ohio. Throughout her childhood, she frequently transitioned in and out of foster care with her three siblings. Her grandmother took on a significant role in her upbringing starting in 2000, during which time Biles spent her formative years in the suburbs of Houston, Texas. Growing up in a Catholic household, Simone has strong ties to Belize, owing to her mother’s Belizean heritage, and she maintains Belizean citizenship to this day.

From an early age, it became apparent that Simone was on a path toward becoming a professional gymnast. Consequently, she was removed from traditional schooling and homeschooled for the remainder of her secondary education, allowing her to increase her training by over 33%. Before entering university, Simone was already competing at the Olympic level.

Career

Beginning her gymnastics journey at a very young age, Biles was under the guidance of coaches like Aimee Boorman by the time she turned 8. At just 14 years old, she participated in the American Classic in Houston and secured a third-place finish. In 2012, she achieved first place at the American Classic in Huntsville and earned a spot on the US Junior National Team that same year. Her senior international debut at the American Cup occurred in 2013, followed by competing at the City of Jesolo Trophy, where she helped the team secure a gold medal.

After a lackluster performance at the 2013 US Classic, Márta Károlyi invited Simone to a private camp, where she began to work with a sports psychologist. Improved results soon followed, leading to her selection for the World Championships team. Another standout performance at the 2013 Artistic Gymnastics Championships resulted in a first-place finish for her, showcasing her talent as a remarkable gymnast, outshining many experienced international competitors.

Although 2014 started off slowly due to a shoulder injury, Biles rebounded spectacularly at the US Classic in Chicago, winning comfortably. She made another appearance at the World Artistic Gymnastics Championships, where the United States claimed another gold medal. In 2015, her victory at the AT&T American Cup in Arlington, Texas, earned her a nomination for the James E. Sullivan Award, adding to her list of accolades from the City of Jesolo Trophy, the U.S. Classic, and the US National Championships.

Competing alongside prominent American gymnasts, Biles represented the United States at the 2014 World Artistic Gymnastics Championships in Glasgow, Scotland, securing a win for the third consecutive year. At that point, she had accumulated a total of 14 World Championships medals. Her string of impressive performances continued into 2016, leading to her selection to represent the United States at the Summer Olympics in Brazil.

Simone played a crucial role in helping the US team qualify in first place during the 2016 Olympics and emerged as the top overall gymnast in four out of five individual finals. She achieved her first Olympic gold medal in the team event, followed promptly by another gold in the individual all-around competition. Additionally, she earned a bronze in the balance beam final and secured yet another gold in the women’s floor event.

Her final exercise secured her a total of four Olympic gold medals. After a short break from competing, 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

Simone entered a relationship in 2017 with Stacey Ervin Jr., who is also a gymnast. After three years together, they parted ways in 2020. In the same year, Simone revealed that she had started dating professional football player Jonathan Owens. The couple became engaged on February 15, 2022, and exchanged vows on April 22, 2023.

Larry Nassar

In 2018, Simone joined fellow Olympians in accusing USA gymnastics doctor Larry Nassar of sexual assault. She asserted that USA Gymnastics facilitated the abuse over an extended period and also accused the organization of trying to conceal it. Not emotionally prepared to confront her abuser, she chose not to attend Nassar’s trial in 2018.

Real Estate

In 2020, Biles took to social media to announce her purchase of a new home, sharing several pictures of the property. While specific details about her new residence were scarce, it was evident that it was expansive and luxurious, highlighted by images showcasing tile floors among other features. In spite of her well-known frugality, it appears that Simone was willing to indulge in a real estate investment – one that turned out to be wise. Records indicate that the house was acquired for under $750,000.

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

Earlier, in 2017, Biles made headlines by announcing the sale of her childhood home situated in Houston, Texas. The 3,711-square-foot property was listed on the market for $289,000. According to the HAR listing, it ultimately sold for a price ranging between $250,001 and $285,000.