Simone Biles Net Worth (Money & Salary)

Simone Biles’ Net Worth: What Is It?

With a net worth of $25 million, American artistic gymnast Simone Biles holds the title of the most accomplished American gymnast in history, boasting over 30 medals from both Olympic and World Championships. Widely recognized as one of the greatest gymnasts ever, Simone has clinched six Olympic gold medals, one silver, and two bronze. Her success extends beyond the competition floor, as she is among the highest-paid Olympic athletes globally, thanks to numerous major endorsement deals with industry giants.

The pinnacle of Simone’s achievements came during the 2016 Summer Olympics, where she was a key member of the US team, famously known as the “Final Five.” At the event, Simone secured individual gold medals in floor, vault, and all-around categories, as well as a bronze in the balance beam and another gold in the team event. The gymnast also holds the record for winning the US championship eight times, the first victory dating back to 2013 when she was just 16, and the latest in August 2023 at the age of 26.

Despite facing challenges at the 2020 Summer Olympics in Tokyo (delayed to 2021 due to COVID), resulting in a bronze in the balance beam and a team silver, Simone’s endorsement game remained strong. Before and after the games, she was arguably the most marketed US athlete, raking in an estimated $20 million from deals surrounding that period and beyond.

Endorsements: Driving Financial Growth

Complementing her gymnastics income, Simone Biles has inked various lucrative brand deals over the years. Notably, prior to the 2016 Olympics, she featured in a Tide commercial alongside fellow gymnasts.

In 2015, Simone signed an enduring pact with Nike, alongside a contract with GK Elite Sportswear to develop an exclusive range of Simone Biles leotards. Following the 2016 games success, she landed major endorsements with renowned brands such as United Airlines, The Hershey Company, Procter & Gamble, Mattress Firm, Spieth America, Beats by Dre, Athleta, Visa, Oreo, Uber Eats, MasterClass, and Facebook Watch.

Her endorsement dominance peaked in the lead-up to the 2020 games, making her the top-paid Olympic athlete through endorsements, with earnings exceeding $20 million from 2019 to 2021.

In a significant move in April 2021, three months before the 2020 Olympics, Simone parted ways with Nike, citing a values mismatch, and penned a fresh deal with Athleta. The collaboration involves Athleta organizing a national exhibition for Simone post-Olympics, rivalling the traditional U.S.A. Gymnastics event, and launching an active wear line together.

Notably, Simone’s departure from Nike was driven by concerns over the company’s history of scandals, employee complaints, and other controversies that plagued the sportswear giant in recent times.

Early Life: From Adversity to Triumph

Simone Arianne Biles, born on March 14th, 1997, in Columbus, Ohio, faced a tumultuous childhood, frequently moving in and out of foster care with her siblings. Starting in 2000, her grandmother played a pivotal role in her upbringing, leading to a settled life in the suburbs of Houston, Texas. Raised in a Catholic household, Simone’s strong ties to Belize, her mother’s home country, remain intact, holding Belizean citizenship.

Recognizing Simone’s gymnastic prowess early on, she transitioned to homeschooling at a young age, offering more training time. By bypassing traditional schooling, she delved into competitive gymnastics at an elite level even before reaching university.

Career Trajectory: Pioneering Excellence

Embarking on her gym…

Continuing her gymnastic career with upgraded routines starting in 2018, Simone Biles was later honored with the Presidential Medal of Freedom by President Joe Biden in 2022.

She began a relationship with Stacey Ervin Jr., a gymnast, in 2017. After three years together, they separated in 2020. Following this, Biles announced her relationship with professional football player Jonathan Owens. The couple got engaged on February 15, 2022, and tied the knot on April 22, 2023.

Larry Nassar

Joining numerous Olympic athletes in 2018, Simone accused USA gymnastics physician Larry Nassar of sexual assault. She, along with her teammates, criticized USA Gymnastics for allowing the abuse to persist and trying to conceal it. Simone opted not to attend Nassar’s trial in 2018 due to emotional reasons.

Real Estate

In 2020, Simone revealed on social media that she had acquired a new home, showing some snapshots of the luxurious property. With limited details published, it was evident the residence was spacious and elegant, featuring tile floors and other lavish elements. Despite her reputation for frugality, Simone seemed willing to invest in real estate, with the property costing under $750,000.

In 2023, Simone and her now-husband Jonathan Owens embarked on constructing a new home together.

Back in 2017, Biles disclosed her plans to sell her childhood residence in Houston, Texas. The property hit the market with a price tag of $289,000 and encompassed 3,711 square feet. According to the HAR listing, it was sold for a sum between $250,001 and $285,000.