Simone Biles is often referred to as ‘The Goat’ of gymnastics as she is now the most decorated gymnast in history. Thanks to her incredible career, Biles has become a household name and is a delight to watch.
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The Olympic gymnast was born in Columbus, Ohio, on March 14, 1997, and she began her gymnastics career when she was just six years old. Since then, she has gone on to do incredible things, including having five gymnastic moves named after her.
Moreover, thanks to her career, Biles has developed quite a substantial net worth.
Simone Biles has a massive net worth
According to Celebrity Net Worth, Simone Biles has an estimated net worth of $25 million. Moreover, Biles was the one of the highest-paid Olympic athlete in terms of endorsements at the Paris Olympics. As per USA Today, the Olympic gymnast is believed to have earned ‘at least’ $20 million just from brand deals between 2019 and 2021.
Forbes reports that Simone earned a whopping $7.1 million in 2023, with $7 million from endorsements and the rest from gymnastics. The media also adds that in 2023, Simone Biles tied for the 14th-highest-paid female athlete.
Biles’ brand deals include United Airlines, Visa, GK Elite (gymnastics apparel), K18 (haircare) and Athleta.
According to CNBC, athletes who represent the United States of America are paid for finishing on the podium by the United States Olympic Committee, athletes earn $38,000 for gold, $23,000 for silver and $15,000 for bronze. Other countries also pay their athletes for winning medals at the Olympics. This means that Simone Biles should have earned $175,000 for the Paris 2024 Olympics, with 3 gold medals and 1 silver.
Now that we know more about Simone Biles’ earnings, let’s take a closer look at her incredible career as a gymnast.
Simone Biles’ career as a gymnast
Simone Biles started her career as a gymnast at just six years old, as per the Olympics’ website. Biles was too young to qualify for the London 2012 Olympics but fame found her a year later in 2013 at 16 years old.
Biles won two gold medals at the Antwerp Championship in 2013, including the coveted all-around title, this is when she performed a skill on the floor apparatus that was then named after her, The Biles (a double layout with a half twist).
By 2015, the young gymnast had 8 World Championships golds under her belt and in 2016, she headed to her first Olympics in Rio. During the 2016 Games, Biles won gold in the all-around, team, vault and floor exercises and won bronze on the beam.
In 2019, Biles continued to show her strength and secured five gold at the World Championships in Stuttgart, when she attempted a brand new move, now called The Biles II (a double tucked backflip with a triple twist).
As per the Olympics’ website, Simone Biles has five skills named after her across three exercises, floor, beam and vault.
At the 2020 Tokyo Olympic Games, the American gymnast secured another two medals but she suffered from mental health issues during the competition. She revealed she had the ‘twisties’, a disorienting mental block during aerial manoeuvres, where gymnasts cannot locate where they are in the air.
Simone chose to prioritize her mental health and launched the important conversation surrounding the pressure athletes face throughout their careers. Since then, she has been a major advocate for mental health and is open about attending therapy.
In 2023, Biles came back strong after her break and won four golds at the World Artistic Gymnastics Championships in Antwerp, Belgium. Then, Biles returned for her third Olympics in Paris at the age of 27, where she secured gold in the all-around team and individual final, she also won gold in the vault final and won silver in the floor final. After the 2024 Olympics, Biles’ Olympic medal tally sits at 11.
Read more:
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Olympic Games: Here are 30 significant controversies that remain unforgettable
Sources used:
Olympics.com: ‘Simone BILES’
USA Today: ‘What is Simone Biles' net worth?’
CNBC: ‘Here’s how much athletes at the Paris Olympics earn for winning medals’
Forbes: ‘What We Know About Simone Biles’ Earnings And Endorsements As She Competes For All-Around Gold In Paris’
Celebrity Net Worth: ‘Simone Biles Net Worth’
