How much is Simone Biles worth?
| Net Worth | $16 million |
| Born | March 14, 1997 |
| Age | 26 |
| Designation | Olympic Gymnast |
| Nationality | American |
| Marital Status | Married |
| Team | Final Five |
| Last Updated | February 21, 2024 |
Currently, Simone Biles is one of the richest female athletes across the globe. All of it comes courtesy of not only her countless wins and golds but also her numerous collaborations with various brands and companies. Deemed as one of the most decorated athletes, Biles is synonymous with elite gymnastics for a reason. Her journey with gymnastics wasn’t all rosy. With a huge stage, all eyes on her, and a high standard that she set for herself, the pressure was immense.
Olympic salary
While Biles has been a popular athlete, winning straight golds in almost all of her championships, the winning bag isn’t as significant as one would expect. According to Forbes, depending on the kind of medal, American athletes will be paid the following prizes in 2022:
- $37,500 for each gold medal
- $22,500 for each silver medal
- $15,000 for each bronze medal
During her Rio Olympics debut, Biles was paid less for her extraordinary achievements. Her prize money distribution looked something like this:
- $25,000 for each gold medal
- $15,000 for each silver medal
- $10,000 for each bronze medal
This amounts her approximate Rio Olympics salary to anywhere between $82,500 to $100,000, according to The Cosmopolitan. However, she does not have a fixed salary for her Olympic endeavors.
Endorsements and Brand Deals
Since athletes couldn’t depend too much on Olympic prize money, they often resort to partnerships with various brands. Over the years, Biles has partnered with various companies like Athleta, GK Elite, Kellogg’s, MasterCard, Visa, and so on for brand deals and endorsements. Currently, she even has her own apparel line with Athleta and GK Elite. Forbes estimated that the star gymnast raked in $10 million in off-field earnings alone in 2022.
But not all deals have ended on a positive note. Her partnership with Nike ended in 2021, and the gymnast cited reasons surrounding misalignment in missions. She switched to partnering with Athleta, which she felt resonated more with the principles she stood for.
Real estate
Apart from what she earns through sponsorships, Biles has also been investing in building her property along with her husband, Jonathan Owens. She already owned a 4,000-square-foot home near Houston, Texas, and is now building one more from scratch. While property records suggest her current house costs about $750,000, her new home’s costs are not known.
FAQs on Simone Biles
At what age did Simone Biles start gymnastics?
Biles began gymnastics at the age of 6.
Who are Simone Biles’ parents?
Nellie and Ronald Biles were Simone’s grandparents before they adopted her and her sister. Since then, Simone and Adria Biles have always called them their mother and father.
Who is Simone Biles’ married to?
Biles began dating NFL safety Jonathan Owens sometime in 2020. The couple recently tied the knot in a lavish ceremony.
How many Olympic medals does Simone Biles have?
Biles has a total of seven Olympic medals: four gold, one silver, and two bronze.
Growing up struggling to find sustenance and entering the foster system due to her mother suffering from addiction, Biles has now come a long way. She always finds ways to give back through her charitable initiatives and social work, and fans find it commendable that the star Olympian has managed to become one of the highest-earning female athletes in the world.
