Simone Biles Net Worth (Money & Salary)

What Is Simone Biles’ Net Worth?

With a net worth of $25 million, Simone Biles is a celebrated American artistic gymnast. As the most decorated American gymnast in history, she boasts over 30 medals, which include both Olympic and World Championship honors. Many people regard Biles as the greatest gymnast ever. As of now, she has secured seven Olympic gold medals, in addition to two silvers and two bronzes. Moreover, she ranks among the highest-earning Olympic athletes globally. In the following section, we will elaborate on her extensive array of endorsement deals with top-tier companies.

Some of her most impressive achievements took place at the 2016 Summer Olympics, where she was a member of the US team known as the “Final Five.” During these games, she clinched individual gold medals in floor, vault, and all-around, along with a bronze on the balance beam and another gold with the US team. Simone holds the record for winning the US championship EIGHT times, starting with her first title in 2013 at the young age of 16 and concluding with her eighth championship in August 2023 at 26 years old.

Regrettably, Simone faced challenges during the 2020 Summer Olympics in Tokyo, held in 2021 due to a COVID delay, where she earned a bronze in the balance beam and a silver with the team. She partially withdrew from competition after experiencing “the twisties,” a condition where gymnasts lose their sense of air balance. Leading up to the 2020 Olympics, both prior to and following the postponement, Simone was the most-promoted US athlete, securing approximately $20 million through various endorsement agreements extending into the future.

Endorsements

Throughout her career, Simone Biles has enhanced her gymnastics earnings through numerous brand endorsements. Notably, prior to the 2016 Olympics, she featured in a Tide commercial alongside several other gymnasts.

In 2015, she entered into a long-term, exclusive contract with Nike and partnered with GK Elite Sportswear to create a line of leotards branded with her name.

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

Following her remarkable performance at the 2016 Olympics, she signed lucrative endorsement contracts with many 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 Olympics, Simone was the highest-paid Olympic athlete regarding endorsements, raking in over $20 million from 2019 to 2021.

Just three months prior to the 2020 Olympics, in April 2021, Simone made headlines by announcing her departure from Nike to sign with Athleta. The agreement included a commitment from Athleta to organize a national exhibition featuring Simone after the Olympics, competing directly with a similar event traditionally organized by USA Gymnastics. Additionally, Simone and Athleta are set to develop a line of activewear.

Reports suggest that Simone parted ways with Nike due to a mismatch in values. She expressed concerns about Nike’s history of scandals, employee grievances, and various controversies that have overshadowed the prominent sportswear brand in recent years.

Early Life

On March 14, 1997, Simone Arianne Biles came into the world in Columbus, Ohio. During her childhood, she and her three siblings frequently found themselves in and out of foster care. In 2000, her grandmother took an active role in her upbringing, and at that time, Biles grew up in Houston, Texas suburbs. Raised in a devout Catholic family, Simone maintained a strong connection to Belize, her mother’s homeland. To this day, she retains Belizean citizenship.

From a young age, it was evident that professional gymnastics was in Simone’s future. Consequently, she was removed from traditional schooling and homeschooled throughout her secondary education. This change facilitated over 33% additional training time, enabling Simone to compete at the highest levels in the Olympics before even entering university.

Career

Starting her gymnastics career at an exceptionally young age, Biles began training under coaches like Aimee Boorman by age 8. At 14, she participated in the American Classic in Houston, securing third place. In 2012, she achieved first place at the American Classic in Huntsville and was subsequently named to the US Junior National Team. Her senior international debut occurred in 2013 at the American Cup, leading to a performance at the City of Jesolo Trophy where she contributed to the US team’s gold medal win.

After a subpar showing at the 2013 US Classic, Márta Károlyi invited Simone to a private camp, and she also began collaborating with a sports psychologist. Improved results followed, resulting in her selection for the World Championships team. A notable performance at the 2013 Artistic Gymnastics Championships secured her another first-place finish. By this time, the 16-year-old had already showcased her extraordinary talent, consistently outperforming more experienced international gymnasts.

The beginning of 2014 was marked by a shoulder injury that slowed Biles down; however, she rebounded during the US Classic in Chicago, where she won decisively. Once more, she competed at the World Artistic Gymnastics Championships, helping the United States clinch another victory and gold medal. In 2015, she topped the AT&T American Cup in Arlington, Texas, a performance that led to her 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.

Together with other prominent American gymnasts, Biles represented the United States at the 2014 World Artistic Gymnastics Championships held in Glasgow, Scotland, winning the title for the third consecutive time. By then, she had amassed a total of 14 World Championships medals. A series of impressive results in 2016 saw Biles selected to represent the United States at that year’s Summer Olympics in Brazil.

At the 2016 Olympics, Simone played a key role in helping the US team secure first place, while also qualifying as the top overall gymnast in four of the five individual finals. She quickly won her first Olympic gold 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 exercise.

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After a brief hiatus from competing, she upgraded her routines and continued her gymnastic career starting in 2018, resulting in a total of four Olympic gold medals for her final exercise.

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

Relationships

Simone Biles started dating fellow gymnast Stacey Ervin Jr. in 2017, but they ended their relationship three years later in 2020. That same year, she revealed her new romance with professional football player Jonathan Owens. The couple got engaged on February 15, 2022, and wed on April 22, 2023.

Larry Nassar

In 2018, Simone, alongside many former and current Olympians, accused USA gymnastics physician Larry Nassar of sexual assault. She asserted that USA Gymnastics was complicit in allowing the abuse to persist over many years and alleged that the organization sought to conceal the wrongdoing. Due to emotional unpreparedness to confront her abuser, she opted not to attend Nassar’s trial in 2018.

Real Estate

In 2020, via her social media, Biles disclosed her purchase of a new home, sharing several images of her new space. While specific details were scarce, the property appeared to be both spacious and luxurious, featuring tile floors among other amenities. Despite her known frugality, Simone seemed willing to indulge in real estate—an intelligent investment, particularly since property records indicated the house was acquired for under $750,000.

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

Previously, in 2017, Biles made known her decision to sell her childhood home located in Houston, Texas. The 3,711-square-foot property was listed for $289,000, and per the HAR listing, it ultimately sold for a price between $250,001 and $285,000.