Simone Biles Net Worth (Money & Salary)

What Is Simone Biles’ Net Worth?

With a net worth of $25 million, Simone Biles, an American artistic gymnast, stands as the most decorated gymnast in U.S. history. Accumulating over 30 medals from both the Olympics and World Championships, many regard her as the greatest gymnast ever. As of this moment, she boasts seven Olympic gold medals, along with two silvers and two bronzes. Furthermore, Simone is among the world’s top-paid Olympic athletes, having secured numerous major endorsement deals with some of the largest global companies, as elaborated in the section below.

During the 2016 Summer Olympics, Simone achieved some of her most impressive milestones. Competing as a member of the U.S. team known as the “Final Five,” she triumphed with individual golds in floor, vault, and all-around categories. Additionally, she earned a bronze in the balance beam while contributing to another gold as part of the U.S. team. Holding a record of EIGHT victories, she won the U.S. Championship for the first time in 2013 at age 16, and her eighth title in August 2023 at 26.

Sadly, Simone faced challenges during the 2020 Summer Olympics in Tokyo, held in 2021 due to COVID delays, bringing home a bronze on the balance beam and a silver with her team. She partially withdrew from the competition after experiencing “the twisties,” a phenomenon where a gymnast temporarily loses awareness of their air balance. Prior to the 2020 games, and following their postponement, Simone remained the most marketable U.S. athlete in endorsements, earning around $20 million from various deals leading up to the event and for future contracts.

Endorsements

Over the years, Simone Biles has enhanced her gymnastics income through numerous brand endorsements. Before the 2016 Olympics, she became well-known for featuring in a Tide commercial alongside several other gymnasts.

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

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

Following her achievements at the 2016 games, Simone landed lucrative endorsement contracts with several major brands, including:

• United Airlines
• The Hershey Company
• Procter & Gamble
• Mattress Firm
• Spieth America
• Beats by Dre
• Athleta
• Visa
• Oreo
• Uber Eats
• MasterClass
• Facebook Watch

In the lead-up to and during the 2020 games, Simone was recognized as the highest-paid Olympic athlete regarding endorsements, reportedly earning at least $20 million from 2019 to 2021.

In April 2021, merely three months prior to the 2020 Olympics, Simone notably announced her departure from Nike to sign with Athleta. This deal included a promise from Athleta to arrange a national exhibition for Simone after the Olympics, competing directly with the traditional exhibition organized by USA Gymnastics. Furthermore, Simone and Athleta plan to develop an activewear line together.

Reportedly, Simone left Nike due to a disconnect with the company’s values, expressing concern over Nike’s history of scandals, employee grievances, and controversies that have tainted the renowned sportswear brand in recent years.

Early Life

Born on March 14, 1997, in Columbus, Ohio, Simone Arianne Biles experienced a childhood marked by her and her three siblings frequently being placed in and out of foster care. In 2000, her grandmother began to significantly influence her upbringing, and during this time, Biles spent her formative years in the suburbs of Houston, Texas. Growing up in a Catholic household, she maintained deep connections to Belize through her mother, who is Belizean. To this day, she also possesses Belizean citizenship.

From an early age, it became apparent that Simone had a bright future in gymnastics. She was subsequently homeschooled to enhance her training, allowing her to increase her practice time by over 33%. Before even attending university, Simone had already begun competing at the Olympic level.

Career

Simone Biles embarked on her gymnastics journey at a remarkably young age, and by just 8 years old, she was training with respected coaches like Aimee Boorman. At 14, she participated in the American Classic in Houston, where she secured a third-place finish. In the same year, she triumphed at the American Classic in Huntsville, earning her a spot on the US Junior National Team. She made her senior international debut at the American Cup in 2013, followed by her participation in the City of Jesolo Trophy, contributing to the US team’s gold medal win.

Following a subpar performance at the 2013 US Classic, Márta Károlyi invited Simone to a private training camp, during which she also began collaborating with a sports psychologist. This led to noticeable improvements, and she was selected for the World Championships team. At the 2013 Artistic Gymnastics Championships, her outstanding performance secured her another first-place finish. By then, the 16-year-old was showcasing exceptional talent, consistently outperforming much more experienced international gymnasts.

The year 2014 started off slowly for Biles due to a shoulder injury; however, she made a strong comeback at the US Classic in Chicago, winning by a significant margin. She again competed in the World Artistic Gymnastics Championships, helping the US team clinch another victory and gold medal. In 2015, she topped the AT&T American Cup in Arlington, Texas, which resulted in her nomination for the James E. Sullivan Award. Further successes followed, including wins at the City of Jesolo Trophy, the U.S. Classic, and the US National Championships.

In 2014, Biles, alongside other prominent American gymnasts, represented the nation at the World Artistic Gymnastics Championships held in Glasgow, Scotland, securing the championship title for the third consecutive time. By this time, she had accumulated a total of 14 World Championships medals. Sustaining her momentum in 2016, Biles was chosen to represent the USA at the Summer Olympics that year in Brazil.

At the 2016 Olympics, Simone played a crucial role in leading the US team to first place. Additionally, she qualified as the top overall gymnast in four out of five individual finals. She first earned her Olympic gold medal in the team event, followed by another gold in the individual all-around category. Alongside these accomplishments, she also secured a bronze medal in the balance beam final and yet another gold in the women’s floor event.exercise final, which resulted in her achieving a total of four Olympic gold medals. Following a short break from competing, she resumed her gymnastics career with enhanced routines from 2018 onward.

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

Relationships

In 2017, Biles entered into a relationship with gymnast Stacey Ervin Jr. After being together for three years, they parted ways in 2020. During that same year, Simone shared that she had begun a relationship with professional football player Jonathan Owens. The couple became engaged on February 15, 2022, and tied the knot on April 22, 2023.

Larry Nassar

In 2018, Simone aligned herself with other current and former Olympians to accuse USA gymnastics physician Larry Nassar of sexual assault. Like numerous teammates, she alleged that USA Gymnastics had a direct role in enabling the ongoing abuse and accused the organization of attempting to cover it up. She chose not to attend Nassar’s trial in 2018, feeling that she was not emotionally prepared to confront her abuser.

Real Estate

In 2020, Biles revealed on social media that she had acquired a new home, sharing a few photos of the property. Although details about her new residence were limited, it was evidently spacious and luxurious, featuring tile floors among other appealing attributes. Despite her well-known frugality, it appeared that Simone was willing to indulge a bit in real estate, making a wise investment. According to property records, the house was purchased for less than $750,000.

In 2023, Simone announced that she and her husband, Jonathan Owens, were starting the construction of a new home.

Earlier, in 2017, Biles disclosed that she was selling her childhood home located in Houston, Texas. The residence, spanning 3,711 square feet, entered the housing market with an asking price of $289,000. Based on the HAR listing, the home eventually sold for a price between $250,001 and $285,000.