Simone Biles Net Worth (Money & Salary)

Discover Simone Biles’ Net Worth

Simone Biles, with a net worth of $25 million, is an American artistic gymnast who has achieved more than 30 medals in her career, including both Olympic and World Championship medals. Widely regarded as one of the greatest gymnasts of all time, Simone Biles has secured multiple Olympic gold medals, silver medals, and bronze medals. She is also recognized as one of the most well-compensated Olympic athletes globally. Further details on Simone’s diverse endorsement deals with leading corporations are discussed in the following section.

During the 2016 Summer Olympics, Simone delivered exceptional performances as part of the US team known as the “Final Five.” She clinched individual gold medals in floor exercise, vault, and all-around competitions, along with a bronze medal on the balance beam and another gold medal as a member of the US team. Simone has notably won the US championship a record eight times, beginning in 2013 at the age of 16 and continuing with her eighth victory in August 2023 at the age of 26.

Although facing challenges at the 2020 Summer Olympics in Tokyo, held in 2021 due to the COVID-19 delay, Simone secured a bronze medal on the balance beam and a silver medal with the team. She withdrew partially from the games due to experiencing “the twisties,” a temporary loss of air awareness crucial for gymnasts. In the build-up to the 2020 Olympics, Simone was a highly coveted US athlete for endorsements, earning an estimated $20 million from various deals leading up to the games and in future contracts.

Brand Endorsements

Aside from her gymnastics earnings, Simone Biles has furthered her income through a variety of brand endorsements. Before the 2016 Olympics, she notably featured in a Tide commercial alongside several other gymnasts.

In 2015, Simone signed an exclusive long-term deal with Nike, concurrently entering a contract with GK Elite Sportswear to launch a line of leotards under her name. Notably, she and her “Final Five” teammates graced the cover of a special Wheaties box in August 2016.

Post the 2016 games triumph, Simone secured lucrative endorsement agreements with major brands like United Airlines, The Hershey Company, Procter & Gamble, Mattress Firm, Spieth America, Beats by Dre, Athleta, Visa, Oreo, Uber Eats, MasterClass, and Facebook Watch. Leading up to and during the 2020 games, Simone stood out as the highest-paid Olympic athlete in endorsement earnings, accumulating over $20 million from 2019 to 2021.

In a notable move in April 2021, just before the 2020 Olympics, Simone terminated her association with Nike and joined hands with Athleta. The deal encompassed Athleta organizing a national exhibition for Simone post-Olympics, competing directly with a comparable event arranged by U.S.A. Gymnastics traditionally. Additionally, a line of active wear will be created jointly by Simone and Athleta.

Simone’s departure from Nike was reportedly driven by misalignment in values, specifically concerns over Nike’s past scandals, internal complaints, and other controversies in recent years.

Alex Livesey/Getty Images

Early Life

Simone Arianne Biles was born on March 14th, 1997, in Columbus, Ohio. Raised alongside her three siblings, Simone experienced periods in foster care before her grandmother assumed a prominent caregiving role in 2000. She grew up primarily in the suburbs of Houston, Texas, under the influence of her Catholic upbringing, maintaining strong ties to Belize due to her Belizean heritage.

Identified early on for her gymnastic prowess, Simone transitioned to homeschooling during her secondary education, facilitating increased training hours. Consequently, she began competing at the Olympic level before pursuing university education.

Professional Journey

Embarking on her gymnastics journey at a young age, Simone commenced training under coaches like Aimee Boorman at just 8 years old. By 14, she participated in the American Classic in Houston, finishing third. Following a promising start, she claimed victory at the American Classic in Huntsville in 2012, earning a spot on the US Junior National Team. Subsequent international appearances, starting with the American Cup, showcased her talent, culminating in numerous prestigious wins and medals.

Despite a setback in 2014 due to a shoulder injury, Biles made a triumphant return at the US Classic in Chicago, securing victory by a significant margin. Her career highlights include victories at the World Artistic Gymnastics Championships and various other competitions, reconfirming her reputation as a stellar gymnast. Notable achievements at the World Championships and Olympics further solidified her position as a dominant force in artistic gymnastics globally.

Continuing with upgraded routines since 2018, Simone Biles received the Presidential Medal of Freedom from President Joe Biden in 2022.

(Photo by Alex Livesey/Getty Images)

Relationships

Beginning a relationship with Stacey Ervin Jr. in 2017, fellow gymnast, Simone dated him for three years before parting ways in 2020. Following this split, she revealed her relationship with professional football player Jonathan Owens. The couple got engaged on February 15, 2022, and later tied the knot on April 22, 2023.

Larry Nassar

Joining several current and former Olympians in 2018, Simone accused USA gymnastics physician Larry Nassar of sexual assault. Alleging that USA Gymnastics was complicit in the abuse’s prolongation, she also accused the organization of cover-up attempts. Simone chose not to attend Nassar’s trial in 2018, citing emotional unreadiness to confront her abuser.

Real Estate

In 2020, Simone announced the purchase of a new home on social media, showcasing some pictures of the luxurious, spacious property. Although not detailed extensively, the house exhibited features such as tile floors. Despite her known frugality, the purchase was considered a smart investment, with property records indicating a cost below $750,000.

Additionally, in 2023, Simone and Jonathan Owens initiated construction on a new home together. Whereas, in 2017, she listed her childhood home in Houston, Texas for sale at $289,000. Spanning 3,711 square feet, the residence ultimately sold for an amount within the range of $250,001 to $285,000 according to HAR listings.