Simone Biles is an American artistic gymnast whose achievements have set her apart as the greatest gymnast of all time. She holds the record for being the most decorated gymnast in history, with a remarkable tally of 11 Olympic medals and 30 World Championship medals. Her Olympic success places her alongside Věra Čáslavská as one of the top female Olympic gymnasts, and she leads the pack among U.S. gymnasts.
Given her incredible career, you might wonder about Simone Biles’ net worth. Her impressive accomplishments have undoubtedly contributed to a substantial fortune. Curious about the specifics of her wealth and how she manages it? Keep reading to discover all about Simone Biles’ financial standing.
Early Life And Childhood
All of her success and wealth might make it seem like Simone Biles comes from a background of privilege. But Biles didn’t grow up with wealth. In fact, her childhood was just the opposite.
Simone Biles was born in Columbus, Ohio, in March of 1997. Biles and her siblings spent the formative years of their lives in foster care while their mother focused on battling addiction.
The Biles children’s grandmother was able to take over their care in the year 2000. They moved to Houston, Texas, and continued to grow up in her care.
It was during these childhood years with her grandmother that Biles discovered her love of gymnastics.
A Fateful Field Trip
While in daycare, Biles attended a field trip to Bannon’s Gymnastix. At one point during the field trip, Biles successfully pulled off a back tuck while standing on the floor. An older gymnast encouraged her to try it on the balance beam.
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Not realizing the gymnast was making a joke, Biles ran up to the balance beam to attempt the back tuck. Realizing that this could lead to injury, the older gymnast explained that she had been kidding.
But the gym coaches had already noticed Biles. They sent a letter home with her asking her family to consider enrolling her in gymnastics classes, and that’s exactly what they did.
When did Simone Biles Start Gymnastics?
From a very young age, it was clear that Biles was no average gymnast. She was exceptionally skilled and had a natural talent that astonished her coaches.
When she was eight years old, Biles started training with gymnastics coach Aimee Boorman. Aimee would continue to coach Biles all the way to the 2016 Olympics as head coach of the U.S. women’s gymnastics team.
From that point onward, Biles began winning major competitions. She took home a World Championship medal in 2013. It was clear Biles was destined for greatness and needed to devote as much time as possible to gymnastics.
In order to have more time to train, Biles stopped attending public high school and spent the rest of her secondary education in homeschool. This enabled Biles to compete at the Olympics before she was even old enough to attend university.
Making a Name for Herself
At the age of 14, Biles took third in the American Classic in Houston. In 2012 she finished first at the American Classic in Huntsville. She joined the U.S. Junior National Team that same year.
Then in 2013, Biles made her debut at the American Cup. She followed this accomplishment by contributing to team USA winning a gold medal at the City of Jesolo Trophy.
Since then, Biles has won 19 World Championship gold medals, three silver medals, and three bronze medals. She holds the Guinness World Record for most gymnastics World Championship medals won.
Then in 2016, Biles helped lead the U.S. women’s gymnastics team to victory at the Rio Olympics. Biles took home four gold medals and one bronze medal in Rio. She became recognized as one of the best gymnasts in the world.
Simone Biles’ Olympic Journey
2016 Rio de Janeiro Olympics
At the 2016 Summer Olympics in Rio de Janeiro, Biles made an unforgettable debut on the world stage. She won gold medals in the all-around, vault, and floor exercises and secured a bronze on the balance beam. Her performance was pivotal in leading the U.S. women’s gymnastics team, known as the “Final Five,” to a gold medal victory.
2020 Tokyo Olympics
The 2020 Tokyo Olympics, postponed to 2021 due to the global pandemic, presented new challenges for Biles. Despite being the favorite to win multiple gold medals, she faced a significant hurdle in the form of “the twisties,” a temporary loss of spatial awareness. Biles withdrew from several events to prioritize her mental health, a move that drew both support and criticism. Nonetheless, she contributed to her team’s silver medal finish and earned a bronze medal on the balance beam. The team, dubbed the “Fighting Four,” was celebrated for their courage and resilience under pressure.
2024 Paris Olympics
Biles’ return to the Olympics at the 2024 Paris Games was historic. She became the first American woman to win back-to-back Olympic titles in both the all-around and vault, a feat not achieved since Věra Čáslavská in 1964 and 1968. Additionally, she became only the second woman ever to win two Olympic all-around titles and at least two World all-around titles. She also earned silver on the floor exercise and led the U.S. team to gold, with the team affectionately known as the “Golden Girls.”
Also read: Simone Biles’ Mother Reveals Details About The Gold Medal Gymnast’s Battle With “Dark Times”
Simone Biles’ Net Worth
Biles’ career success and enigmatic personality have enabled her to accrue a sizable fortune at just 27 years old. As of 2024, Celebrity Net Worth estimates Simone Biles’ net worth to be $25 million.
Biles supplements her gymnastics income through various endorsement deals. Many sponsors benefit from partnering with star athletes.
Biles was in a Tide commercial alongside fellow gymnasts Dominique Dawes and Nadia Comaneci leading up to the Rio Olympics.
Since then, she has partnered with brands like Uber Eats, Oreo, Hershey’s, and Beats by Dre. Biles was also a Nike-featured athlete before aligning herself with Athleta instead.
How many medals does Simone Biles have?
With 11 Olympic medals and 30 World Championship medals, Simone Biles stands as the most decorated gymnast in history and is widely regarded as the greatest gymnast of all time. Her 11 Olympic medals tie her with Věra Čáslavská as the second-most decorated female Olympic gymnast, and she holds the record for the most Olympic medals won by a U.S. gymnast.
Does she have Social Media?
In addition to endorsements, Biles also has a vast social media following. Her Instagram followers number 12.6 million, while her Twitter feed reaches 2 million followers.
Biles has done an excellent job of leveraging her following into paid sponsorship. Many major companies are eager to advertise on her social media feeds.
Supporting Children in Foster Care
So, what has Simone Biles done with her fortune? As with many celebrities’ net worth, she invests her wealth back into the community.
In 2018, Biles formed a partnership with the non-profit online school University of the People. As a global ambassador, Biles offers special scholarships to children in the foster care system.
Having spent part of her childhood in foster care, Biles is familiar with the reality that once children age out of the system, they lack access to opportunities to pursue higher education.
Biles hopes to provide these children with opportunities like the ones she had growing up.
How much did Simone Biles make at the Paris Olympics?
At the Paris Olympics, Simone Biles stood to earn a substantial amount from her performances. The U.S. Olympic and Paralympic Committee (USOPC) awards $37,500 for each gold medal, $22,500 for silver, and $15,000 for bronze. Given that Biles was expected to secure up to four podium finishes, she could have made $135,000 in prize money alone.
In addition to her Olympic earnings, Biles has a lucrative endorsement portfolio. In 2023, she earned an estimated $7.1 million, primarily from sponsorship deals with brands like Visa, GK Elite, Athleta, United Airlines, and K18 haircare. This impressive endorsement income places her among the highest-paid female athletes globally.
