Simone Biles Net Worth: How Endorsements and Investments Contributed to Her Wealth
At a glance, Simone Biles Net Worth and Endorsements
Category: Richest Athletes › Olympians
Net Worth:$25 Million
Birthdate: Mar 14, 1997 (27 years old)
Birthplace: Columbus, Ohio, U.S.
Gender: Female
How much money is Simone Biles net worth?
American artistic gymnast Simone Biles has a $25 million fortune. Having won over 30 medals in gymnastics, including Olympic and World Championship titles, Simone Biles is the most successful American gymnast ever. A lot of people think Simone Biles is the best gymnast ever. As of this writing, Simone has won two silver, two bronze, and seven gold medals from the Olympics. She is among the world’s top-paid Olympic athletes as well. Simone has scores of substantial sponsorship agreements with some of the world’s biggest corporations, which we discuss in the next section below.
She achieved some of her most noteworthy feats in the 2016 Summer Olympics. She participated in those games as a member of the US squad called the “Final Five.” Simone took home individual golds in vault, floor, and all-around competitions at these games. As a part of the US team, she took home two golds and a bronze in the balance beam. Simone has the record with EIGHT US championship victories. At sixteen, she took home her first US title in 2013. At the age of 26, she captured her ninth US championship in August 2023.
Simone, regrettably, had a difficult time in Tokyo at the 2020 Summer Olympics, which were postponed due to COVID-19. Despite this, she managed to win a silver medal with the team and a bronze on the balancing beam. After experiencing “the twisties,” a condition in which a gymnast momentarily loses awareness of their air balance, she withdrew from the games to some extent. In terms of endorsement deals, Simone was undoubtedly the most promoted American athlete in the run-up to the 2020 Olympics, both before and after the postponement. In the years preceding the games, she made an estimated $20 million from a variety of deals and long-term commitments.
Endorsements
Over the years, Simone Biles has added a variety of corporate endorsements to her gymnastics income. She made a memorable appearance with several other gymnasts in a Tide commercial before the 2016 Olympics.
She inked a long-term, exclusive contract with Nike in 2015. She also agreed to create a collection of Simone Biles leotards with GK Elite Sportswear in that same year.
A special edition Wheaties box featuring Simone and her fellow “Final Five” colleagues was released in August 2016.
Following her triumph at the 2016 Olympics, Simone inked significant endorsement deals with several companies, including the following:
- United Airlines
- The Hershey Company
- Procter & Gamble
- Mattress Firm
- Spieth America
- Beats by Dre
- Athleta
- Visa
- Oreo
- Uber Eats
- MasterClass
- Facebook Watch
In terms of sponsorship revenue, Simone was the highest-paid Olympic athlete before and during the 2020 games. Between 2019 and 2021, her endorsement revenue brought in at least $20 million.
Three months before the 2020 Olympics, in April 2021, Simone made the well-known announcement that she had left Nike and joined Athleta. One of the terms of the agreement was that Athleta would organize a national exhibition for Simone following the Olympics, which would compete with the U.S.A. Gymnastics-hosted display. Simone and Athleta will also produce a range of activity wear.
According to reports, Simone departed Nike because she no longer thought the business aligned with her principles. She was particularly worried about Nike’s history of scandals, staff complaints, and other issues that have plagued the industry-leading apparel company in recent years.
Early Life
On March 14, 1997, Simone Arianne Biles was born in Columbus, Ohio. Throughout her childhood, Simone and her three siblings were in and out of foster care regularly. Over the years, Biles grew up in the Houston, Texas, suburbs; her grandmother became involved in her upbringing in 2000. Because her mother is from Belize, Simone retained strong ties to her native country while growing up in a Catholic environment. She still possesses Belizean citizenship.
It was evident from an early age that Simone was meant to be a professional gymnast. After that, she was taken out of the classroom and was homeschooled for the remainder of her secondary schooling. Because of this, Simone was able to increase her training by over 33%, and before she started college, she was participating at the highest level in the Olympics.
Career
Biles started gymnastics very early, and by the time she was eight years old, she was working with coaches like Aimee Boorman. She participated in the Houston American Classic at the age of 14. She came in third. She took first place in the American Classic in Huntsville in 2012. She was selected for the US Junior National Team that year. Her senior international debut came in the American Cup in 2013, after which she participated in the City of Jesolo Trophy and contributed to the gold medal victory of the US team.
Simone was invited to a private camp by Márta Károlyi after her underwhelming performance at the 2013 US Classic. The young gymnast also began training with a sports psychologist. After achieving better outcomes, Simone was chosen for the World Championship squad. She took first place once more in the 2013 Artistic Gymnastics Championships because of yet another flawless performance. At that point, the 16-year-old was already showcasing her amazing potential and outperforming far more seasoned international gymnasts.
Due to a shoulder injury, things got off to a rough start in 2014. However, Biles recovered well and won the US Classic in Chicago. She participated in the World Artistic Gymnastics Championships again, this time assisting the US in winning another gold medal. She won the AT&T American Cup in Arlington, Texas, in 2015. It was thanks to this performance that she was nominated for the James E. Sullivan Award. Additional triumphs followed in the form of the US National Championships, the U.S. Classic, and the City of Jesolo Trophy.
At the 2014 World Artistic Gymnastics Championships in Glasgow, Scotland, Biles competed for the United States among other well-known American gymnasts, and she won the competition for the third time in a row. She had collected 14 medals from the World Championships at this time. After a run of impressive performances in 2016, Biles was chosen to compete for the United States in the Summer Olympics in Brazil.
In addition to qualifying as the best gymnast overall in four of the five individual finals, Simone assisted the United States team in winning the gold medal at the 2016 Olympics. She quickly captured her first gold medal in the Olympics in the team competition. She then triumphed in the individual all-around competition. For a total of four Olympic gold medals, she also won bronze in the balance beam final and gold in the women’s floor exercise final. She had a little break from competition, but in 2018 she returned to gymnastics with improved routines.
President Joe Biden presented Simone Biles with the Presidential Medal of Freedom in 2022.
Relationships
The relationship between Biles and fellow gymnast Stacey Ervin Jr. started in 2017. In 2020, after dating for three years, the couple called it quits. Simone made her relationship with professional football player Jonathan Owens public later that year. On February 15, 2022, the pair announced their engagement. On April 22, 2023, they were married.
Larry Nassar
In 2018, Simone came out against USA Gymnastics physician Larry Nassar, along with a host of other former and present Olympians, alleging sexual assault. Along with several of her teammates, she asserted that USA Gymnastics was directly responsible for the abuse’s prolonged continuation and charged the organization with trying to hide it. Since she wasn’t emotionally prepared to confront her abuser, she made the decision not to attend Nassar’s 2018 trial.
Real Estate
Biles revealed on social media in 2020 that she had bought a new house and shared a few images of it. Few specifics about her new home were made public, even though photos of it revealed tile flooring and other opulent features. It appears that Simone was ready to spend a bit on real estate, which was a wise investment, despite her well-known thrift. The cost of the house is less than $750,000, according to property records.
Simone declared in 2023 that she and her husband-to-be, Jonathan Owens, were starting construction on a new house.
Biles announced that she was selling her Houston, Texas, childhood home back in 2017. The house, which is 3,711 square feet in total, was listed for $289,000 when it first went up for sale. The HAR listing states that the house sold for a price between $250,001 to $285,000.
