Simone Biles, the most decorated gymnast in the history of the sport, has not only achieved immense success in her athletic career but has also amassed a significant fortune. As of 2024, Simone Biles' net worth is estimated to be around $16 million. This impressive figure is the result of her exceptional gymnastics career, lucrative endorsem*nt deals, and other business ventures. Here, we explore the various sources of Biles' wealth and how she has managed to build a substantial net worth.
Early Career and Gymnastics Success
Simone Biles' journey to financial success began with her remarkable achievements in gymnastics. Biles first gained national attention in 2013 when she won her first U.S. national all-around title. She quickly established herself as a dominant force in the sport, winning multiple gold medals at the World Championships in 2013 and 2014. However, it was the 2016 Rio de Janeiro Olympics that truly catapulted her to international fame. Biles won four gold medals and one bronze, becoming a household name and solidifying her status as one of the greatest gymnasts of all time.
Biles' success in gymnastics opened the door to numerous endorsem*nt deals and sponsorships, which have significantly contributed to her net worth. Major brands were eager to partner with Biles, recognizing her widespread appeal and marketability. Some of her most notable endorsem*nts include:
Nike: Biles signed a deal with Nike in 2015, becoming one of the brand's key athletes. Her association with Nike has included various campaigns and promotions, showcasing her talent and inspiring young athletes.
Visa: As a global ambassador for Visa, Biles has been featured in several high-profile advertising campaigns. Her partnership with Visa has not only enhanced her financial portfolio but also increased her visibility on a global scale.
Kellogg's: Following her success in Rio, Biles appeared on the iconic Kellogg's Corn Flakes box, a prestigious honor that highlighted her status as a sports icon.
United Airlines: Biles has also partnered with United Airlines, which has further diversified her income sources.
In addition to these major endorsem*nts, Biles has worked with other prominent brands such as Hershey's, Uber Eats, Beats by Dre, and Core Power. These endorsem*nt deals have collectively earned her millions of dollars, making her one of the highest-paid gymnasts in the world.
Business Ventures and Investments
Beyond endorsem*nts, Biles has also ventured into various business opportunities. In 2020, she launched her own line of activewear in collaboration with Athleta, a subsidiary of Gap Inc. The collection, which features a range of stylish and functional workout apparel, has been well-received and contributes to her growing business empire.
Biles has also shown an interest in investing. While specific details about her investment portfolio are not publicly available, it is likely that she has diversified her wealth through smart investments in stocks, real estate, and other ventures. Many athletes have successfully grown their net worth by making strategic investments, and Biles is no exception.
Media Appearances and Public Speaking
Simone Biles' fame extends beyond the gymnastics arena. She has made numerous media appearances, including television shows, documentaries, and interviews. Her story has been featured in major publications, and she has graced the covers of magazines such as Vogue and Sports Illustrated. These media engagements not only increase her public profile but also add to her income.
Biles is also a sought-after public speaker. She shares her journey, challenges, and triumphs with audiences around the world, inspiring countless individuals with her resilience and determination. Public speaking engagements are a lucrative avenue for athletes, and Biles' powerful message resonates with many.
Impact of Tokyo Olympics and Mental Health Advocacy
Simone Biles' decision to prioritize her mental health during the Tokyo 2020 Olympics (held in 2021 due to the COVID-19 pandemic) was a pivotal moment in her career. While stepping back from several events may have impacted her immediate earnings from the games, her advocacy for mental health has enhanced her long-term marketability. Brands and organizations appreciate her authenticity and commitment to important issues, which has strengthened her reputation and opened new opportunities for partnerships.
Celebritynetworth.com estimates that Biles' net worth is $20 million. The site also says that around the time of the 2020 Tokyo Games, "Biles was the highest-paid Olympic athlete in terms of endorsem*nts." It estimates that the gold medalist earned "at least" $20 million from brand deals between 2019 and 2021.
For the Paris Games, the USOPC is paying athletes $37,500 for every gold medal they earn. Those earning silver get $22,500 while those earning bronze get $15,000. That means Biles is in line for $135,000 just for making the podium four times over.
Simone Biles' Olympic medal collection has officially reached the double digits. The American star defeated Brazil's Rebeca Andrade once again in the vault apparatus final on Saturday, winning her third gold medal of the Paris Olympics. It's her 10th Olympic medal and seventh gold.
Biles stands out from other gymnasts both in terms of how she senses her body in space and how she hones her muscle memory, "as well as [her] having one of the most phenomenal bases of strength and conditioning that I've ever seen in an athlete," Pongetti added.
According to Online Athens, Georgia Gymnastics will pay Cecile Canqueteau-Landi $340,000 annually and Ryan Roberts $265,000. This is almost a trifold increase in Georgia's spending for their head coach salary from $207,000 to $605,000 annually.
For that one in a million who hits the gymnastics jackpot, the U.S. Olympic committee will pay $25,000 for a gold medal, $15,000 for the silver, and $10,000 for the bronze. But the real money is in sponsorships, which can be in the millions if you win.
It is a Yurchenko-style vault with two flips in a pike position. Biles was seen practicing the move ahead of the Paris Olympics and performed the skill during the individual all-around final.
How high can Simone Biles jump? At the U.S. Olympic Trials in June, the top of Biles' head got as high as 12 feet above the surface on one of the jumps during her floor exercise routine, NBC Sports calculated.
Oftentimes, athletes won't say anything in regards to mental health, and on the outside they seem like perfect beings who lack normal struggles. Biles helped show that wasn't true at all. Biles was one of the first athletes to openly talk about her mental well-being and help show that athletes are human, too.
Simone Biles is having a stunning performance during the 2024 Olympic Games in Paris. The gymnastics superstar took home the gold in the individual the all-around and is expected to dominate the individual vault and floor events, after helping Team USA nab the team women's gymnastics gold Tuesday.
Additionally, through "Project Gold," run by the U.S. Olympic and Paralympic Committee," U.S. athletes get $37,500 for winning a gold medal; $22,500 for silver and $15,000 for bronze, according to the Associated Press.
Biles is the most decorated competitor in history but has accumulated much of her wealth away from the mat. With more than three dozen Olympic and world championship medals combined, Simone Biles is the most accomplished gymnast ever. And, not surprisingly, the sport's most profitable athlete.
American gymnast Simone Biles, looking to win the all-around gold medal at the Paris Olympics on Thursday and continue her reign as the greatest gymnast of all time, rakes in millions from various sponsorships with brands like Visa, gymnastics apparel company GK Elite and athleisure company Athleta.
Suni Lee's net worth in 2024 is estimated at about $3 million, according to Celebrity Net Worth. She has endorsem*nts from Amazon, Batiste, CLIF Bars, Crocs, GK Elite, Kiss Nails, L'Oréal, LEGO, LoveShackFancy, Marriott, PlayStation, PrettyLittleThing, SKIMS, Target and Toyota, to name a few.
Ledecky "earns at least $1 million annually from the deal" and "is believed to be the most lucrative endorsem*nt deal ever signed by a swimmer, male or female," according to a Washington Post article from the Tokyo Olympics.
At the age of two, she and her siblings were taken from their drug-addicted mother and placed in foster care. Adopted by her grandfather and his wife, she was introduced to gymnastics during a day-care field trip at age six.
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