Simone Biles Net Worth
What is Simone Biles' Net Worth?
Simone Biles is an American artistic gymnast who has a net worth of $16 million. Simone is the most accomplished American gymnast of all time with a total of 32 medals to her name (both Olympic and World Championship medals). Simone is one of the most decorated gymnasts in world history. Many believe that Simone Biles is the greatest gymnast of all time.
Some of her most notable accomplishments occurred during the 2016 Summer Olympics. At those games she competed as part of the US team known as the "Final Five." At these games Simone won individual golds in floor, vault and all-around. She won a bronze on the balance beam and another gold as a member of the US team.
Unfortunately Simone struggled at the 2020 Summer Olympics in Tokyo, which took place in 2021 after a COVID delay, taking home a bronze on balance beam and a silver with the team. She partially withdrew from the games after a case of "the twisties" which is when a gymnast temporarily loses their air balance awareness.
Leading up to the 2020 games (before and after the postponement), Simone was easily the most-marketed US athlete in terms of endorsements. She earned an estimated $20 million from various deals in the years lead up to the games and contracts that extend into the future. More on these deals later in this article.
Simone Arianne Biles was born on March 14th of 1997 in Columbus, Ohio. Simone and her three siblings were constantly in and out of foster care while she was growing up. Her grandmother started playing an active role in her upbringing in 2000, and during this period Biles grew up in the suburbs of Houston, Texas. Raised in a Catholic home, Simone maintained strong roots to Belize while growing up, as her mother is Belizean. To this day, she holds Belizean citizenship.
At a young age, it became clear that Simone was destined for a career as a professional gymnast. She was subsequently pulled out of class and homeschooled for the rest of her secondary education. This allowed her to train over 33% more, and before she had attended university, Simone was competing in the Olympics at the highest level.
Biles began her gymnastics career extremely early, and by the age of 8 she was training with coaches like Aimee Boorman. At the age of 14, she competed in the American Classic in Houston. She finished third. In 2012, she placed first at the American Classic in Huntsville. That year, she was named to the US Junior National Team. In 2013, she made her senior international debut at the American Cup before competing at the City of Jesolo Trophy and help the United States team win a gold medal.
A poor performance at the 2013 US Classic prompted Márta Károlyi to invite Simone to a private camp, and the young gymnast also started working with a sports psychologist. Better results followed, and Simone was then selected for the World Championships team. Another clear performance at the 2013 Artistic Gymnastics Championships helped her win another first-place finish. By the point, the 16-year-old was already proving to be an incredible talent, and she was outperforming international gymnasts that were much more experienced.
Things started slowly in 2014 due to a shoulder injury, but Biles bounced back with the US Classic in Chicago, winning the competition by a wide margin. She competed once moe in the World Artistic Gymnastics Championships, helping the United States claim another victory and gold medal. In 2015, she placed first at the AT&T American Cup in Arlington, Texas. This performance helped her earn a nomination for the James E. Sullivan Award. More victories came with the City of Jesolo Trophy, the U.S. Classic, and the US National Championships.
Along with other high-profile American gymnasts, Biles represented the United States at the 2014 World Artistic Gymnastics Championships in Glasgow, Scotland, winning the competition for the third consecutive time. By this point, she had won a total of 14 World Championships medals. A string of strong results continued in 2016, and Biles was inevitable selected to represent the United States at the Summer Olympics that year in Brazil.
Simone helped the US team qualify in first place that at the 2016 Olympics, and she also qualified as the top overall gymnast in four of the five individual finals. She soon won her first Olympic gold medal at the team event, and she followed up with a gold medal in the individual all-around category. She also claimed bronze at the balance beam final and another gold in the women's floor exercise final for a total of four Olympic gold medals. After taking a brief hiatus from competing, she continued her gymnastic career with upgraded routines from 2018 onwards.
Simone Biles has supplemented her gymnastics income with a range of brand endorsements over the years. Prior to the 2016 Olympics, she famously appeared in a Tide commercial alongside a number of other gymnasts.
In 2015 she signed an exclusive, long-term deal with Nike. That same year she also signed a contract with GK Elite Sportswear to produce a line of Simone Biles leotards.
In August 2016, Simone and her fellow "Final Five" teammates appeared on the cover of a special edition Wheaties box.
After her success at the 2016 games Simone signed lucrative endorsement contracts with the following brands, just to name a few:
- United Airlines
- The Hershey Company
- Procter & Gamble
- Mattress Firm
- Spieth America
- Beats by Dre
- Uber Eats
- Facebook Watch
Leading up and during the 2020 games, Simone was the highest-paid Olympic athlete in terms of endorsements. She earned at least $20 million from endorsements from 2019 through 2021.
In April 2021, just three months before the 2020 Olympics, Simone famously announced she had dropped Nike and signed with Athleta. Included in the deal was a commitment from Athleta to arrange a national exhibition for Simone after the Olympics, in direct competition with a similar exhibition that's traditionally organized by U.S.A. Gymnastics. Simone and Athleta will also produce a line of active-wear.
Simeone reportedly left Nike because she no longer felt that the company matched her values. Specifically she was concerned about Nike's track record of scandals, complaints from employees and other controversies that have dogged the dominant sportswear company in recent years.
In 2017, Biles began a relationship with Stacey Ervin Jr., who is also a gymnast. After three years of dating, the pair slip up in 2020. That year, Simone announced that she had begun dating professional football player Jonathan Owens.
In 2018, Simone joined many other current and past Olympians to accuse USA gymnastics physician Larry Nassar of sexual assault. Like many of her teammates, she claimed that USA Gymnastics played a direct role in allowing the abuse to continue over a long period of time, and she also accused the organization of attempting to cover it up. She decided not to attend trial of Nassar in 2018, as she wasn't emotionally ready to face her abuser.
In 2020, Biles announced on social media that she had purchased a new home, and she showed off a few pics of her new place. Not many details were published about her new residence, although it was clearly spacious and luxurious, with pictures showing tile floors and other details. Despite her famous frugality, it seems that Simone was willing to splurge a little on real estate – a smart investment. Back in 2017, Biles announced that she was selling her childhood home in Houston, Texas. The residence hit the housing market with a price tag of $289,000, and it spans a total of 3,711 square feet.
|Net Worth:||$16 Million|
|Date of Birth:||Mar 14, 1997 (25 years old)|
|Place of Birth:||Columbus, Ohio, U.S.|