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How Simone Biles Achieved a Net Worth of $16 Million

Simone Biles’ website describes her as a “4-foot, 8-inch dynamo.” She lives up to that description as one of the most noteworthy and lucrative Olympic athletes. With all her career success, what is Simone Biles’ net worth? Moreover, what is in store for Biles’ financial and career future? The answers to these questions may surprise you.

Who is Simone Biles?

Simone Biles is an artistic gymnast who is arguably the best gymnast of all time. She is the most decorated gymnast in history and has won seven Olympic medals and 25 world championship medals. She is known most for her performance at the 2016 Summer Olympics in Rio de Janeiro Olympics, where she won five medals, but she also performed at the 2020 Tokyo Olympics, winning a team silver and bronze medal to add to her collection.

Simone Biles’ Eary Life

Simone Biles is most known for her gymnastics career, and her early years have greatly impacted her career trajectory.

Born on March 14, 1997, Simone Arianne Biles started her life in Columbus, Ohio. She ended up in foster care when her biological mother could not take care of her and her three siblings. When she was three, she was taken in by her grandparents, who lived near Houston, Texas, and later adopted Biles.

Six-year-old Simon Biles first found her love for gymnastics during a day-care field trip. She then began a gymnastics program and took gymnastics more seriously at eight when she started to train with Aimee Borman.

While Biles’ early life presented many challenges, it also created a foundation for the person and athlete she would become, and it set her up to have the determination and energy of a winner.

Simone Biles’ Impressive Career

Simone Biles has been a bright light in the United States gymnastics program and the gymnastics world in general. Her career has required her to overcome many obstacles and work incredibly hard, and she has shown that she has more than earned her lucrative career.

Biles was determined even as a young kid, but as she got older, she became an elite athlete. In 2011, Biles started her career as an elite gymnast when she was fourteen. At the American Classic, she was third all-around, establishing her as a gymnast to pay attention to. By 2012, she placed first all-around in the Junior division of the American classic. She could then perform at the USA National Championships, which earned her a place on the Junior National Team.

Biles continued to grow as a gymnast, and in 2012, she decided to start homeschooling, so she could train for around 32 hours each week rather than only 20. This decision would help her boost her career and work on new skills.

In 2013, Biles became a Senior gymnast and debuted at the American Cup. She came in second next to Katelyn Ohashi. She continued to compete, but she did face some obstacles, such as performance anxiety and confidence problems. With the help of a sports psychologist, she was able to improve her consistency and began winning more.

At the 2013 National Championships, she was the winner, and this win allowed her to begin a rise toward dominating in her sport. This would eventually lead her to her historic Olympic performance in 2016, where she would win the all-around gold and four other medals.

Her Awards

For her outstanding efforts, Biles has been awarded many awards and accolades. She has been included on the TIME 100 Most Influential list and the Forbes 30 Under 30 list. She has also been on other lists such as Ebony Power 100, USA Today Women Changing the World, USA Today 100 Women of the Century, and she has been picked as the Associated Press’s Female Athlete of the Year two times.

Biles is not only known for her gymnastics career but is also known for advocacy and trying to promote causes she believes in. She has advocated for sexual assault survivors and mental health awareness. The causes she has promoted have led her to become the youngest recipient of the Presidential Medal of Freedom, which she received on July 7, 2022.

Simone Biles isn’t even thirty yet, so she has plenty of time to add to her long list of achievements and inspire and encourage others to embrace themselves and find success.

What is Simone Biles’ Net Worth?

Simone Biles’ net worth is estimated by Celebrity Net Worth to be around $16 million and growing. Biles is still young, and while her career in gymnastics is limited, she still has a lot of future career possibilities to consider. Additionally, Biles is known for being careful with her money, so she isn’t likely to spend it all any time soon and will likely try to invest her money wisely.

How Did Simone Biles Get Her Money?

Simone Biles’ income predominantly comes from being an elite gymnast. Gymnasts can get some money from performing at the Olympics. According to Insider, Biles had earned six figures from medal bonuses, which she received for winning a medal at the Olympics. However, direct income from her gymnastics career is not her predominant source of income.

While Simone Biles is famous because of her gymnastics career, much of her income is not directly from her gymnastics. Instead, Simone Biles has earned a lot of her money from endorsements. As of 2020, Biles was the top-grossing Olympian for endorsements. These endorsements have earned her millions of dollars and will continue to be an income stream.

Biles has also written a book called Courage to Soar, which details her history and how she became a top athlete while still dealing with many of the regular challenges of any young person. On her website, she says of the book, “I’m going to tell you a story. My Story. How my faith and my family made my wildest dreams come true. And how embracing a dream can give you courage to soar.”

What Endorsements Has Simone Biles Had?

One of the major parts of her net worth is her endorsements with various companies. She has had many endorsements from big brands.

Some of the main endorsements Biles has gained include:

  • Athleta
  • Hershey
  • Beats by Dre
  • Visa
  • United Airlines
  • MasterClass
  • Uber Eats
  • Mattress Firm
  • Oreo
  • Procter & Gamble
  • Facebook Watch
  • Spieth America

Is Simone Biles Married?

Marriage can significantly impact a person’s financial situation and net worth, and in Simone Biles’ case, she and her partner each have significant incomes. Simone Biles is not currently married, but she announced her engagement to football player Jonathan Owens on February 15, 2022, on her Instagram account, calling her decision to marry him “THE EASIEST YES.” The pair is a suitable match, and while he doesn’t quite have the high net worth of Biles, Owens does pretty well with a net worth of approximately $5 million, according to Essentially Sports.

Future Income Avenues for Simone Biles

Simone Biles has a bright future ahead of her, but it is not entirely clear what she will do in the future. She has stated that she will continue to be involved in gymnastics, but it is unclear in what capacity she will be involved. Biles has also become the Chief Impact Officer at Cerebral, a company that tries to promote mental health. She made this decision after her 2021 Olympic performance, where she struggled with “the twisties,” which caused her to withdraw from many events and to be unable to perform safely in the way she wanted to.

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Allen Lee

Written by Allen Lee

Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. He spends more time than is perhaps wise with his eyes fixed on a screen either reading history books, keeping up with international news, or playing the latest releases on the Steam platform, which serve as the subject matter for much of his writing output. Currently, Lee is practicing the smidgen of Chinese that he picked up while visiting the Chinese mainland in hopes of someday being able to read certain historical texts in their original language.

Read more posts by Allen Lee

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