Simone Biles Net Worth (Money & Salary)

What Is Simone Biles’ Net Worth?

With a net worth of $25 million, Simone Biles stands as an iconic American artistic gymnast. She has amassed more than 30 medals throughout her career, including both Olympic and World Championship accolades, making her the most decorated American gymnast in history. Many consider Biles to be the greatest gymnast ever. Currently, her Olympic achievements include seven gold medals, two silver medals, and two bronze medals. Additionally, she ranks among the highest earners in Olympic sports, thanks to numerous major endorsements from some of the world’s leading companies, as will be discussed in the following section.

Her remarkable achievements were especially highlighted at the 2016 Summer Olympics. Competing as part of the renowned US team, the “Final Five,” Simone secured individual gold medals in floor, vault, and all-around, complemented by a bronze on the balance beam and another gold with the team. Notably, she has claimed the US championship title an unprecedented EIGHT times, beginning her journey with her first win in 2013 at just 16 years old, and culminating in her eighth title in August 2023 at age 26.

Regrettably, Biles faced challenges during the 2020 Summer Olympics in Tokyo, which were delayed until 2021 due to COVID-19. Her performances resulted in a bronze on the balance beam and a silver with the team, following a partial withdrawal due to experiencing “the twisties”—a condition where gymnasts temporarily lose awareness of their air balance. Prior to and following the postponement of the 2020 games, Simone was the most heavily marketed US athlete in terms of endorsements, reportedly earning around $20 million from various deals leading up to the competition, with contracts that continue into the future.

Endorsements

Over the years, Biles has augmented her income from gymnastics through various brand endorsements. She gained prominence in 2016 with a Tide commercial featuring several fellow gymnasts just before the Olympics.

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

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

Post-2016 Olympics, Simone entered into several lucrative endorsement deals with 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 the 2020 games and throughout that period, Biles was recognized as the highest-paid Olympic athlete for endorsements, generating a minimum of $20 million from these deals between 2019 and 2021.

In April 2021, merely three months before the 2020 Olympics, Simone made headlines by announcing her departure from Nike to sign with Athleta. As part of this agreement, Athleta committed to organizing a national exhibition for Simone post-Olympics, in direct competition with a traditional exhibition by USA Gymnastics, along with co-producing a unique line of activewear.

Reports indicated that Biles decided to leave Nike due to a mismatch of values, expressing concerns regarding the company’s history of scandals, employee grievances, and various controversies that have affected the brand in recent years.

Early Life

On March 14, 1997, Simone Arianne Biles was born in Columbus, Ohio. During her childhood, she frequently entered and exited foster care along with her three siblings. In 2000, her grandmother took an active role in her life, and it was during this time that Biles was raised in the suburbs of Houston, Texas. Coming from a Catholic family, she held onto her strong Belizean heritage through her mother, who is from Belize, and she retains Belizean citizenship to this day.

It quickly became evident that Simone had a natural talent for gymnastics at a young age. She was subsequently removed from traditional schooling to be homeschooled, allowing her to increase her training by over 33%. By the time she reached university age, Simone was already competing at a high level in the Olympics.

Career

Starting her gymnastics journey at a very young age, Biles was training under coaches like Aimee Boorman by the age of 8. She finished third at the American Classic in Houston when she was 14. In 2012, she achieved first place at the American Classic in Huntsville, earning a spot on the US Junior National Team that same year. Her senior international debut happened in 2013 at the American Cup, and she later contributed to the US team’s gold medal win at the City of Jesolo Trophy.

A lackluster performance at the 2013 US Classic led Márta Károlyi to invite Simone to attend a private training camp, and she also began meetings with a sports psychologist. Improvement came swiftly, as she was then chosen for the World Championships team following a strong showing at the 2013 Artistic Gymnastics Championships, where she secured first place. At just 16 years old, her remarkable abilities were already evident, as she consistently outperformed older, more experienced international gymnasts.

The beginning of 2014 was challenging due to a shoulder injury; however, Biles made a significant comeback by winning the US Classic in Chicago decisively. Participating again in the World Artistic Gymnastics Championships, she assisted the United States in achieving another gold medal. By 2015, Biles had placed first at the AT&T American Cup in Arlington, Texas, which set the stage for her nomination for the James E. Sullivan Award. Victories continued to mount with wins at both the City of Jesolo Trophy and the U.S. Classic, as well as the US National Championships.

Alongside other renowned American gymnasts, Biles competed for the United States at the 2014 World Artistic Gymnastics Championships in Glasgow, Scotland, where she celebrated her third consecutive win. By this time, her tally included 14 World Championships medals. After a series of outstanding performances in 2016, she was selected to represent the United States at the Summer Olympics in Brazil later that year.

At the 2016 Olympics, Simone played a crucial role in helping the US team secure the top spot, and she qualified as the leading gymnast in four out of five individual finals. She celebrated her first Olympic gold medal during the team event and followed this with another gold in the individual all-around competition. Additionally, she earned a bronze in the balance beam final and yet another gold in the women’s floor routine.

After a short break from competition, she resumed her gymnastics career with enhanced routines starting in 2018, culminating in a total of four Olympic gold medals.

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

Relationships

In 2017, Biles entered into a relationship with fellow gymnast Stacey Ervin Jr. However, the couple ended their three-year relationship in 2020. That same year, she revealed that she was in a relationship with professional football player Jonathan Owens. The two got engaged on February 15, 2022, and exchanged vows on April 22, 2023.

Larry Nassar

In 2018, Simone joined numerous current and former Olympians in accusing USA gymnastics physician Larry Nassar of sexual assault. She, along with many teammates, alleged that USA Gymnastics was complicit in allowing Nassar’s abuse to persist for an extended duration and accused the organization of attempting a cover-up. Deciding against attending Nassar’s trial in 2018, she felt unprepared emotionally to confront her abuser.

Real Estate

In 2020, Biles took to social media to share her purchase of a new home, showcasing a few images of her new property. Although not many details about the house were disclosed, it was evidently spacious and luxurious, featuring tile floors among other attributes. Despite her known tendency towards frugality, it appears that Simone opted for a worthwhile investment in real estate, as property records indicated the house was bought for under $750,000.

In 2023, it was announced by Simone that she and her husband, Jonathan Owens, were starting construction on a new home.

Earlier in 2017, Biles revealed her decision to sell her childhood home located in Houston, Texas. The 3,711-square-foot property was listed for $289,000, with the HAR listing indicating it sold for a price range between $250,001 and $285,000.