Simone Biles Net Worth (Money & Salary)

What Is Simone Biles’ Net Worth?

With a net worth of $25 million, Simone Biles is an American artistic gymnast. Recognized as the most accomplished gymnast in U.S. history, she has garnered over 30 medals that include both Olympic and World Championship titles. Many consider her to be the greatest gymnast ever. At the time of writing, Simone has secured seven gold medals, two silver, and two bronze medals in the Olympics. Furthermore, she ranks among the highest-paid Olympic athletes globally, having numerous significant endorsement agreements with some of the largest corporations worldwide, as explored in the subsequent section.

Among her most remarkable achievements were those at the 2016 Summer Olympics, where she competed with the U.S. team dubbed the “Final Five.” In those games, she claimed individual gold medals in the floor, vault, and all-around categories, alongside a bronze in the balance beam and another gold as part of the U.S. team. A record eight-time U.S. champion, she first nabbed the title in 2013 at just 16 years old and secured her eighth championship in August 2023 at the age of 26.

Sadly, Simone faced challenges during the 2020 Summer Olympics, held in Tokyo in 2021 due to COVID delays, earning a bronze on the balance beam and a silver with her team. She experienced a partial withdrawal from the competition as a result of “the twisties,” a condition where gymnasts temporarily lose their spatial awareness. In the lead-up to the 2020 Olympics—both before and after the delay—Simone was the most advertised U.S. athlete in terms of endorsements, bringing in approximately $20 million from various deals in the years preceding the games, as well as contracts that carry into the future.

Endorsements

Throughout her career, Simone Biles has bolstered her earnings from gymnastics through a variety of brand endorsements. Leading up to the 2016 Olympics, she made headlines with her appearance in a Tide commercial featuring several other gymnasts.

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

August 2016 saw Simone and her “Final Five” teammates grace the cover of a special edition Wheaties box.

Following her impressive performance at the 2016 games, she inked lucrative endorsement deals with numerous 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

Leading up to and during the 2020 games, Simone was the highest-earning Olympic athlete concerning endorsements. Between 2019 and 2021, she accumulated at least $20 million from these arrangements.

In April 2021, just three months prior to the 2020 Olympics, Simone made headlines by announcing her exit from Nike to sign with Athleta. The deal included a promise from Athleta to set up a national exhibition for Simone post-Olympics, directly challenging a traditional exhibition organized by USA Gymnastics. Additionally, Simone and Athleta planned to create a new line of activewear.

Reportedly, Simone departed from Nike because she felt the company did not align with her values. Her concerns centered around Nike’s history of controversies, employee grievances, and scandals that have plagued the leading sportswear brand in recent years.

Early Life

Born on March 14, 1997, in Columbus, Ohio, Simone Arianne Biles spent her childhood frequently transitioning in and out of foster care with her three siblings. In 2000, her grandmother took an active role in her upbringing, leading her to grow up in the suburbs of Houston, Texas. Raised in a Catholic household, Simone deepened her roots in Belize due to her mother’s Belizean heritage, maintaining citizenship in that country to this day.

Even at a young age, it was evident that a professional gymnastics career awaited Simone. Consequently, she was homeschooled for her remaining secondary education, allowing her to increase her training time by over 33%. By the time she entered university, Simone was already competing at the Olympics’ highest level.

Career

Commencing her gymnastics journey at an exceptionally early age, Biles was already training with coaches like Aimee Boorman by the time she turned 8. At 14, she competed in the American Classic in Houston, finishing in third place. In 2012, she secured first place at the American Classic in Huntsville, earning her a spot on the US Junior National Team. The following year, she made her senior international debut at the American Cup and went on to the City of Jesolo Trophy, where she helped the United States team clinch a gold medal.

A subpar performance at the 2013 US Classic led to an invitation from Márta Károlyi for Simone to attend a private camp. Additionally, she began working with a sports psychologist, which resulted in improved performances. This success placed her on the World Championships team, and another standout performance at the 2013 Artistic Gymnastics Championships propelled her to yet another first-place finish. By then, the 16-year-old had demonstrated remarkable talent, rivals trailing her who were considerably more experienced.

The onset of 2014 provided a few challenges owing to a shoulder injury, but Biles rebounded at the US Classic in Chicago, decisively winning the competition. She returned to the World Artistic Gymnastics Championships once again, playing a pivotal role in the United States’ victory and gold medal achievement. In 2015, Biles triumphed at the AT&T American Cup in Arlington, Texas, garnering a nomination for the James E. Sullivan Award. More victories followed with wins at the City of Jesolo Trophy, the U.S. Classic, and the US National Championships.

Competing alongside other prominent American gymnasts, Biles represented the United States at the 2014 World Artistic Gymnastics Championships in Glasgow, Scotland, winning the event for the third year in a row. At this stage, she had amassed a total of 14 World Championships medals. The strong results continued in 2016, culminating in her selection to compete for the United States at the Summer Olympics held in Brazil that year.

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

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Finalizing her exercise, she achieved a total of four Olympic gold medals. Following a short break from competition, she resumed her gymnastics career beginning in 2018 with enhanced routines.

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

Relationships

Simone Biles entered into a relationship with fellow gymnast Stacey Ervin Jr. in 2017. After three years together, they ended their relationship in 2020. The same year, she revealed that she was dating professional football player Jonathan Owens. They got engaged on February 15, 2022, and tied the knot on April 22, 2023.

Larry Nassar

In 2018, Simone joined various current and former Olympians in accusing USA gymnastics physician Larry Nassar of sexual assault. She, like many teammates, alleged that USA Gymnastics had a direct role in enabling the ongoing abuse and accused the organization of attempting to conceal it. Simone chose not to attend Nassar’s trial in 2018, feeling she wasn’t emotionally prepared to confront her abuser.

Real Estate

In 2020, Biles took to social media to disclose her new home purchase, sharing a few photos. Although details about her new residence remained sparse, it was evident that the house was spacious and luxurious, featuring tile floors and other highlights. Despite her well-known thriftiness, Simone appeared to be ready to invest a little in real estate—a wise decision. Property records indicate that the house cost under $750,000.

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

In 2017, she revealed that her childhood home in Houston, Texas, was up for sale. The 3,711-square-foot property entered the housing market with a listing price of $289,000. According to the HAR listing, the residence sold for an amount between $250,001 and $285,000.