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 American artistic gymnast. She is often regarded as the most accomplished gymnast in American history, boasting over 30 medals from Olympic and World Championship events. Widely regarded by many as the greatest gymnast ever, Simone’s accolades include seven Olympic gold medals, two silver medals, and two bronze medals. Additionally, she ranks among the highest-paid Olympic athletes globally. As highlighted in the following section, she has secured numerous major endorsement deals with some of the largest corporations worldwide.

Some of Biles’ most significant achievements took place during the 2016 Summer Olympics, where she competed as part of the US team known as the “Final Five.” During these games, she claimed individual gold medals in floor, vault, and all-around, along with a bronze medal on the balance beam and another gold as a part of the US team. Notably, she has set a record by winning the US championship EIGHT times. From her first victory in 2013, when she was just 16, to her eighth title in August 2023 at the age of 26, she has demonstrated unparalleled consistency.

Regrettably, the 2020 Summer Olympics in Tokyo proved challenging for Simone, largely due to a COVID-related postponement. Competing in 2021, she earned a bronze on the balance beam and a silver in the team event, but she partially withdrew from the competition after experiencing “the twisties,” a condition that causes gymnasts to lose their sense of air balance. Leading up to the 2020 games, and even following the postponement, Simone emerged as the most marketed US athlete in endorsement deals, bringing in around $20 million from various agreements that extend into the future.

Endorsements

Over the years, Simone Biles has diversified her income through numerous brand endorsements. Notably, she appeared in a widely recognized Tide commercial with other gymnasts before the 2016 Olympics.

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

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

Following her triumph at the 2016 Olympics, Simone inked lucrative endorsement deals with several prominent 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 throughout the 2020 Olympics, Simone was the top-earning Olympic athlete in terms of endorsements, accumulating at least $20 million from these sources between 2019 and 2021.

In April 2021, just three months prior to the 2020 Olympics, she made headlines by leaving Nike for Athleta. This new partnership included a commitment from Athleta to organize a nationwide exhibition for Simone post-Olympics, directly competing with an exhibition usually hosted by USA Gymnastics. Additionally, Simone and Athleta would collaborate on a line of activewear.

Simone reportedly departed from Nike due to a perceived mismatch of values, citing concerns over the company’s history of controversies, employee grievances, and other issues faced by the prominent sportswear brand in recent years.

Early Life

Born on March 14, 1997, in Columbus, Ohio, Simone Arianne Biles faced many challenges during her early years. She and her three siblings experienced frequent transitions in and out of foster care. In 2000, her grandmother became heavily involved in her upbringing, and Biles spent her childhood in the Houston suburbs of Texas. Raised in a Catholic household, she maintains her connections to Belize, owing to her mother’s Belizean heritage, and she holds Belizean citizenship to this day.

From a young age, it was evident that Simone was meant for a professional gymnastics career. Consequently, she was taken out of traditional schooling and homeschooled for the remainder of her secondary education, enabling her to train significantly more than her peers. Prior to attending university, she was already competing at elite levels in the Olympics.

Career

Simone’s gymnastics journey began remarkably early; by age 8, she was already training with experienced coaches like Aimee Boorman. At 14, she took part in the American Classic in Houston, securing a third-place finish. In 2012, she claimed the top spot at the American Classic in Huntsville and was subsequently named to the US Junior National Team. The following year marked her senior international debut at the American Cup, followed by her participation in the City of Jesolo Trophy, where she contributed to the US team’s gold medal performance.

A poor showing at the 2013 US Classic led Márta Károlyi to invite Simone to a private training camp, during which she also began working with a sports psychologist. Improved results followed her training, leading to her being selected for the World Championships team. Another strong performance at the 2013 Artistic Gymnastics Championships enabled her to secure yet another first-place finish, showcasing her remarkable talent that was already outperforming experienced international gymnasts.

The start of 2014 was slow owing to a shoulder injury, yet Biles bounced back to win the US Classic in Chicago by a significant margin. She once again competed in the World Artistic Gymnastics Championships, aiding the US team to claim a gold medal. In 2015, she finished first at the AT&T American Cup in Arlington, Texas, earning a nomination for the prestigious James E. Sullivan Award. Her victory streak continued with wins at the City of Jesolo Trophy, the U.S. Classic, and the US National Championships.

Joined by fellow elite American gymnasts, Biles represented the United States at the 2014 World Artistic Gymnastics Championships in Glasgow, Scotland, achieving victory for the third year in a row. By this time, she had amassed a total of 14 World Championships medals. A series of impressive results set the stage for 2016, where Biles was chosen to represent the US at the Summer Olympics in Brazil.

During the 2016 Olympics, Simone helped the US team earn first place and qualified as the top overall gymnast in four out of five individual finals. Her Olympic campaign began with a gold medal in the team event, followed by another gold in the individual all-around. She also managed to secure a bronze in the balance beam and completed her Olympic journey with a gold in the women’s floor exercise final, totaling four Olympic gold medals. After her extraordinary achievements, she took a brief hiatus.

After competing, she advanced her gymnastics career by incorporating upgraded routines starting in 2018.

Simone Biles received the Presidential Medal of Freedom in 2022 from President Joe Biden.

Relationships

In 2017, Biles started dating fellow gymnast Stacey Ervin Jr. The couple ended their relationship in 2020 after three years together. That same year, Simone shared news of her relationship with professional football player Jonathan Owens. They became engaged on February 15, 2022, and later married on April 22, 2023.

Larry Nassar

In 2018, Simone joined numerous other former and current Olympians in accusing Larry Nassar, the USA gymnastics physician, of sexual assault. Like many of her teammates, she asserted that USA Gymnastics played a significant role in enabling the abuse to persist for an extended period and also claimed the organization attempted to cover it up. She chose to abstain from attending Nassar’s trial in 2018, citing her emotional unpreparedness to confront her abuser.

Real Estate

Biles made a social media announcement in 2020 regarding her new home purchase, sharing pictures of her new residence. Though few specifics were disclosed about the property, it was evident that it was spacious and luxurious, featuring tile floors among other details. Despite her known frugality, Simone appeared willing to indulge slightly in real estate as a prudent investment. Records indicate that the house was acquired for under $750,000.

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

Back in 2017, Biles declared her intention to sell her childhood residence in Houston, Texas. The 3,711-square-foot house entered the market priced at $289,000, and the HAR listing indicates it sold for between $250,001 and $285,000.