Simone Biles has an estimated net worth of $16 million.
Simone Biles is a professional artistic gymnast from the United States with a net worth of $16 million. Simone is the most decorated American gymnast of all time, having won a total of 32 medals (both Olympic and World Championship medals). Simone is one of the world’s most decorated gymnasts. Simone Biles is widely regarded as the greatest gymnast of all time.
Several of her most notable achievements occurred during the 2016 Summer Olympics in Rio de Janeiro. She competed in those games as a member of the US team dubbed the “Final Five.” Simone won individual gold medals in floor, vault, and all-around at these games. She earned a bronze medal on the balance beam and a gold medal as a member of the United States team.
Simone Biles Net Worth
Unfortunately, Simone struggled at the Tokyo 2020 Summer Olympics, which were rescheduled to 2021 due to a COVID delay, earning a bronze medal on balance beam and a team silver. She withdrew from the games in part due to a bout of “the twisties,” a condition in which a gymnast temporarily loses awareness of their air balance.
Simone was easily the most-endorsed US athlete in the run-up to the 2020 games (both before and after the postponement). She earned an estimated $20 million from a variety of deals in the years leading up to the games and from ongoing contracts. We’ll discuss these deals in greater detail later in this article.
Simone Biles Childhood
Simone Arianne Biles was born in Columbus, Ohio on March 14, 1997. Simone and her three siblings were in and out of foster care throughout her childhood. Biles’ grandmother began actively involved in her upbringing in 2000, and during this time period, Biles grew up in the Houston suburbs. Simone was raised in a Catholic home and has strong ties to Belize, as her mother is Belizean. She retains Belizean citizenship to this day.
Simone was destined for a career as a professional gymnast from an early age. Following that, she was pulled from class and homeschooled for the remainder of her secondary education. This increased her training capacity by over 33%, and before she entered university, Simone was competing at the highest level in the Olympics.
Simone Biles Career
Biles began her gymnastics career at an early age, training with coaches such as Aimee Boorman at the age of eight. She competed in the American Classic in Houston at the age of 14. She came in third place. In 2012, she won the American Classic in Huntsville, Alabama. She was named to the United States Junior National Team that year. In 2013, she made her senior international debut at the American Cup before representing the United States at the City of Jesolo Trophy, where she helped the team win gold.
Márta Károlyi invited Simone to a private camp following her poor performance at the 2013 US Classic, and the young gymnast also began working with a sports psychologist. Simone then improved her results and was selected for the World Championships team. At the 2013 Artistic Gymnastics Championships, another flawless performance helped her earn another first-place finish. By this point, the 16-year-old had already established herself as an incredible talent, outperforming much more experienced international gymnasts.
Things got off to a slow start in 2014 due to a shoulder injury, but Biles rebounded with a win at the US Classic in Chicago. She competed in the World Artistic Gymnastics Championships once more, assisting the US in capturing another victory and gold medal. She won the AT&T American Cup in Arlington, Texas, in 2015. This performance earned her a James E. Sullivan Award nomination. Additional victories came in the form of the City of Jesolo Trophy, the United States Classic, and the United States National Championships.
Biles, along with other prominent American gymnasts, represented the United States at the 2014 World Artistic Gymnastics Championships in Glasgow, Scotland, where she won the competition for the third time in a row. She had won a total of 14 World Championships medals at this point. After a string of strong performances in 2016, Biles was unavoidably chosen to represent the United States at the 2016 Summer Olympics in Brazil.
Simone contributed to the United States qualifying for the 2016 Olympics in first place, and she also qualified as the top overall gymnast in four of the five individual finals. She quickly won her first Olympic gold medal in the team event, followed by another in the individual all-around event. She also won bronze on balance beam and a gold medal in the women’s floor exercise final, giving her a total of four Olympic gold medals. After a brief hiatus from competition, she resumed her gymnastics career in 2018 with upgraded routines.
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Simone Biles has supplemented her gymnastics earnings over the years with a variety of brand endorsements. She was famously featured in a Tide commercial alongside a number of other gymnasts prior to the 2016 Olympics.
In 2015, she inked a multi-year deal with Nike. She also signed a deal with GK Elite Sportswear that year to create a line of Simone Biles leotards.
Simone and her fellow “Final Five” teammates were featured on the cover of a limited-edition Wheaties box in August 2016.
Simone signed lucrative endorsement deals with the following brands following her success at the 2016 Olympics:
- United Airlines
- The Hershey Company
- Procter & Gamble
- Mattress Firm
- Spieth America
- Beats by Dre
- Facebook Watch
Simone was the highest-paid Olympic athlete in terms of endorsements in the years leading up to and including the 2020 games. From 2019 to 2021, she earned at least $20 million in endorsements.
Simone famously announced her departure from Nike and signing with Athleta in April 2021, just three months before the 2020 Olympics. Athleta committed to organising a national exhibition for Simone following the Olympics, directly competing with a similar exhibition traditionally organised by USA Gymnastics. Simone and Athleta will also collaborate on an activewear collection.
Simeone reportedly left Nike because she felt the company no longer reflected her values. She was particularly concerned about Nike’s track record of scandals, employee complaints, and other controversies that have dogged the market leader in sportswear in recent years.
Biles began dating fellow gymnast Stacey Ervin Jr. in 2017. In 2020, after three years of dating, the couple makes a mistake. Simone revealed that she had begun dating professional football player Jonathan Owens later that year.
Simone joined a growing number of current and former Olympians in accusing USA gymnastics physician Larry Nassar of sexual assault in 2018. As with many of her teammates, she claimed that USA Gymnastics was directly responsible for allowing the abuse to continue for an extended period of time and for attempting to cover it up. She chose not to attend Nassar’s 2018 trial because she was not emotionally prepared to confront her abuser.
Residential Real Estate
Biles announced on social media in 2020 that she had purchased a new home and shared a few photos of her new digs. There were few details published about her new residence, despite the fact that it was clearly spacious and luxurious, as evidenced by photographs of tile floors and other details. Despite her well-known thriftiness, it appears that Simone was willing to splurge on real estate – a wise investment. Biles announced in 2017 that she would be selling her childhood home in Houston, Texas. The residence is priced at $289,000 and measures 3,711 square feet in size.