Simone Biles, an iconic American artistic gymnast, has an impressive net worth of $25 million. With more than 30 medals to her name, including Olympic and World Championship titles, she is considered the most successful gymnast in the history of the United States. Biles’ extraordinary talent has led many to call her the greatest gymnast of all time. As of now, she has won seven Olympic gold medals, two silver medals, and two bronze medals, showcasing her dominance in the sport.
In addition to her impressive accomplishments, Simone Biles has become one of the highest-paid athletes globally, particularly among Olympians. Her financial success can be attributed to her remarkable gymnastics career and her numerous endorsement deals. Leading up to the 2020 Summer Olympics, Simone earned over $20 million from various endorsement contracts with global companies. These deals have cemented her status as one of the most marketable athletes of her generation.
Endorsement Deals and Sponsorships
Throughout her career, Simone Biles has successfully leveraged her gymnastics achievements to secure a range of lucrative brand endorsement deals. Before the 2016 Olympics, she made her first major public appearance in a Tide commercial alongside other gymnasts, which garnered attention. In 2015, Biles signed a long-term contract with Nike, solidifying her partnership with the brand. She also agreed with GK Elite Sportswear to create a line of leotards bearing her name.
Simone’s success at the 2016 Rio Olympics opened the door to a multitude of high-profile endorsement opportunities. Along with her fellow gymnasts from the “Final Five” team, Simone appeared on the cover of a special edition Wheaties box in August 2016. Following the Olympics, she inked several major deals with prominent brands such as United Airlines, The Hershey Company, Procter & Gamble, Mattress Firm, and Spieth America.
Other companies, including Beats by Dre, Athleta, Visa, Oreo, Uber Eats, MasterClass, and Facebook Watch, also partnered with Biles, contributing to her financial success. By 2020, leading up to the Olympics, she was the highest-paid Olympic athlete in terms of endorsements, with earnings from these contracts reaching at least $20 million between 2019 and 2021.
In April 2021, Simone made headlines when she announced that she was leaving Nike to sign a deal with Athleta. This partnership included a commitment to host a national exhibition for Simone after the Olympics, a departure from the traditional USA Gymnastics-organized exhibitions. Her decision to leave Nike was motivated by concerns over the company’s values, citing scandals and employee issues that caused a rift between her and the brand.
Early Life of Simone Biles
Simone Arianne Biles was born on March 14, 1997, in Columbus, Ohio. Growing up, Simone and her three siblings faced frequent challenges, including time spent in foster care. In 2000, her grandmother took on a more active role in raising Simone, and the family moved to the suburbs of Houston, Texas. Raised in a Catholic household, Simone has deep cultural ties to Belize, as her mother is Belizean, and she holds Belizean citizenship.
From a young age, it was evident that Simone had an extraordinary talent for gymnastics. Recognizing her potential, she was homeschooled to allow more time for training. This decision proved to be key to her development as an athlete, enabling her to devote over 33% more time to practice. By the time she reached her teenage years, she was already competing at the highest levels of the sport.
Simone’s Gymnastics Career
Simone’s gymnastics career began early, with her training starting at the age of eight. She worked with renowned coaches, such as Aimee Boorman, who helped guide her through the developmental stages. At 14, Simone competed in the American Classic in Houston, where she finished third. By 2012, she took first place at the American Classic in Huntsville, leading to her inclusion in the US Junior National Team.
Simone made her senior international debut in 2013 at the American Cup, where she placed first. Her career took off as she continued to excel in various competitions, including the City of Jesolo Trophy, where she contributed to the United States team winning gold. After a setback at the 2013 US Classic, Simone’s performance improved with the guidance of coach Márta Károlyi and a sports psychologist, leading to better results and further recognition in the gymnastics world.
Despite a shoulder injury in 2014, Simone returned stronger, dominating the US Classic and winning another gold at the World Artistic Gymnastics Championships. Her continued success, including multiple wins at prestigious events like the AT&T American Cup and the City of Jesolo Trophy, earned her widespread recognition. By 2016, she had won 14 World Championship medals and was selected to represent the United States in the Rio Olympics.
During the 2016 Summer Olympics in Brazil, Simone helped the US team secure a first-place finish and went on to earn four Olympic gold medals, including the all-around and floor exercises. She also secured a bronze medal on the balance beam. After a brief hiatus, Simone continued her career, introducing upgraded routines and new challenges, cementing her legacy in the sport.
Simone Biles’ Recognition
In 2022, Simone Biles received the prestigious Presidential Medal of Freedom, awarded by President Joe Biden. This honor recognized her not only for her athletic achievements but also for her contributions to the broader cultural terrain and the impact she has made as a trailblazer in gymnastics and women’s sports.
Larry Nassar Controversy
Simone’s career was also marked by her involvement in the Larry Nassar scandal, a scandal involving sexual abuse allegations against the former USA Gymnastics physician. In 2018, Simone joined other Olympians in accusing Nassar of sexually assaulting her and many others over an extended period. She also accused USA Gymnastics of enabling the abuse and attempting to cover it up. Simone chose not to attend Nassar’s trial in 2018, as she wasn’t emotionally prepared to confront her abuser in that setting.
Real Estate and Investments
In 2020, Simone Biles shared on social media that she had purchased a new home. Although she kept details of the property relatively private, it was clear that the residence was luxurious and spacious, featuring tile floors and other high-end finishes. The home was valued at under $750,000, an investment that reflected her growing wealth.
In 2023, Simone and her husband Jonathan Owens began working on a new property. This new home represents a fresh start for the couple and further demonstrates their commitment to creating a solid foundation together.
Additionally, in 2017, Simone put her childhood home in Houston, Texas, on the market. The 3,711-square-foot home was priced at $289,000 and sold for between $250,001 and $285,000, marking another chapter in her life as she moved into new ventures both personally and professionally.
