Simone Biles' Net Worth - Updated 2023

Simone Biles is a famous American gymnast. She wrote history in gymnastics. The multiple Olympic champion landed a unique jump in the women’s events, a multi-spin variation of the Yurchenko, at the US Classic in Indianapolis.

What is the net worth of Simone Biles?

Simone Biles is an American artistic gymnast with a net worth of $16 million at the time this article is written. She won 32 medals, both World and Olympic Championships, making her the most accomplished American gymnast of all time. Also, she is the most decorated gymnast form all time. Many people think that Simone Biles is the greatest gymnast in world history.

During the 2016 Summer Olympics, Simone accomplished the most notable awards of her career. She competed as a member of the US team named the “Finale Five”. She was awarded a gold medal as a member of the US team and a bronze medal on the balance beam. Also, at that games, Biles won individual gold medals in all-around, vault, and floor.

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On the other hand, the 2020 Summer Olympics from Tokyo, which took place in 2021 due to the COVID delay, were not that successful. Biles won only a silver medal with the team and a bronze medal on the balance beam. Simone partially withdrew from the games, after a case of “the twisties”. This is an affection that causes a sportsman to lose their air balance awareness.

In terms of endorsements, Simone Biles was the most marketed United States athlete until the 2020 Olympic games (before and after the delay). In the years that lead up to the games, she made around $20 million from different deals and contracts some of which are still ongoing.

Childhood

Simone Arianne Biles was born on March 14th of 1997 in Columbus, Ohio. While she was growing up, together with her three siblings was permanently in and out of foster care. Starting in 2000 her grandmother was involved in her upbringing and in that period, Simone lived in the suburbs of Huston, Texas. Even though she was raised in a Catholic home, she maintained strong roots in Belize because her mother is Belizean. Also, Simone Biles is a Belizean citizen.

It became clear that Simone was destined to become a professional artist gymnast since a very young age. So, for the rest of her secondary education, she was pulled out of class and homeschooled. This way she was able to train over 33% more and before going to the university she already competed at the Olympic games.

Career

Simone Biles started her career at a very early age. When she was only eight years old, she was already training with coaches such as Aimee Boorman. Simone competed in the American Classic in Huston when she was 14 years old and finished third. She won first place at the American Classic in Huntsville in 2012. Also, that year Biles was named to the United States Junior National Team. She made her senior debut in 2013 at the American Cup. After that, she competed in the City of Jesolo Trophy and won a gold medal with the US team.

Simone had a poor performance at the 2013 US Classic and this determined Marta Kaloyi to invite the young gymnast to a private camp where she started to work with a sports psychologist. After that, Simone had better results and was selected for the World Championships team. Also, that year she won the first-place finish at the Artistic Gymnastics Championships. When she was 16 years old, Simone already proved that she is a great talent and was able to outperform international gymnasts with much more experience.

In 2014 Biles suffered a shoulder injury, but this didn’t stop her from winning the US Classic competition in Chicago. Also, she won the gold medal at the World Artistic Gymnastics Championships. Furthermore, she placed first at the AT&T American Cup in Arlington, Texas in 2015. Thanks to this accomplishment she was nominated for the James E. Sullivan Award. Simone scored more victories at the US National Championships, the City of Jesolo Trophy, and the U.S. Classic.

In 2014 Simone Biles represented the United States at the World Artistic Gymnastics Championships in Glasgow, Scotland where she won the games for the third time in a row. She had won a total of 14 World Championships medals by that point.

In 2016 Simone Biles was chosen to represent the United States at the Summer Olympics in Brazil, where she helped the US team to win first place.

At that competition, Simone won her first Olympic gold medal in the team event and a gold medal in the individual all-around category. Also, she won a gold medal in the women’s floor exercise final and a bronze medal in the balance beam final.

Simone took a short break from competitions, but starting in 2018 continued her gymnastic career.

Endorsements

Over time, Simone has added income from various brand endorsements to her gymnastic earnings. Before the 2016 Olympics, Biles together with other gymnasts appeared in a Tide commercial.

Simone signed a long-term, exclusive contract with Nike in 2015. Also, the same year she signed a deal with GK Elite Sportswear to create a line of Simone Biles undershirts.

Simone along with her fellow “Final Five” teammates appeared on the cover of a special edition Wheaties box in August 2016.

Biles signed lucrative endorsement contracts with various brands after the successful 2016 games. Some of these brands include Facebook Watch, United Airlines, MasterClass, The Hershey Company, Uber Eats, Procter & Gamble, Oreo, Mattress Firm, Visa, Spieth America, Athleta, and Beats by Dre.

Simone Biles was the highest-paid Olympic athlete in terms of endorsements after the 2020 games. Between 2019 and 2021 she made a minimum of $20 million from endorsements.

Biles announced that she had dropped Nike and signed with Athleta in April 2021, only three months before the 2020 Olympics. The reason behind this decision was that Nike’s values no longer matched the gymnast’s values.

Personal life

Simone Biles began a relationship with Stacey Ervin Jr., who is also a gymnast, but they separated in 2020. The same year she started dating the professional football player Jonathan Owens, with whom she got engaged in February 2022.

Larry Nassar

In 2018, multiple Olympic champion Simone Biles and more than 90 other American gymnasts requested a billion dollars in court from the federal police, accused of “negligence” in the sexual abuse scandal committed by former doctor Larry Nassar.

Former USA women’s team doctor Larry Nassar, 58, is serving a life sentence after receiving heavy sentences in 2017 and 2018 for sexually assaulting more than 250 gymnasts, mostly minors, committed within the Gymnastics Federation at Michigan State University and in a gymnastics club.

In December 2021, US sports authorities agreed to pay $380 million in damages to Larry Nassar’s victims.

Real estate

In 2017 Simone Biles announced that she is selling her childhood home in Houston, Texas for $289,000.

In 2020, Simone announced that she purchased an impressive property in Spring, Texas, but there are no details about how much she paid for it. The house bought by Simone Biles has a cubic, modern shape, different from the traditional one, clad in bricks, in which the American grew up in Ohio. While she hasn’t released more details, such as how many rooms the new home has, Simone has often posed inside the spacious interior, which she shares with her fiancé Jonathan Owens.

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Alec Pow

Alec Pow is a thorough and methodical Financial and Business Analyst with over 15 years of experience in financial statement analysis, Foreign exchange derivative hedging instruments analysis, modeling, and risk management, with a long history of writing for big news publications like Forbes, MSN.com, Washington Post, and many more.

Simone Biles’ Net Worth