Simone Biles Net Worth, Gymnast, Early Life

For many years, Biles was working her way up (and excelling) in her chosen sport, gymnastics. But she really caught the attention of the general public when she landed a whopping four gold medals at the 2016 Olympics in Rio de Janeiro. She was the first female US gymnast to do so—ever.

Why are people so fascinated and curious about how much money she makes? Perhaps it's because they're curious how much a professional gymnast makes in today's competitive sports sector. Maybe it's because they want to know if women's sport is as lucrative as men's sport.

Read on to learn more about Simone Biles' career highlights, family ties, and how much money she has to her name today.

Simone Biles' Net Worth

Simone Biles has an astonishing seven (yes, you read that right) Olympic medals to her name. And that's outside of her wins in events run by various gymnastics sporting bodies.

She's also backed an endless string of charities to raise awareness for social issues close to her heart. Then, there are all the brand sponsorships and endorsements she engaged with over the years.

So that got us and many others around the world wondering: precisely what is Simone Biles' net worth? Surely, it must be nothing to scoff at. And it turns out she's definitely not hurting for money.

Medal Wins: Minor Money

First, there's the money she's earned from all the gold, silver, and bronze medals she took home after her Olympic appearances. You might not be aware, but winning athletes earn a good chunk of money from these medals. It amounts to $37,500 for gold, $22,500 for silver, and $15,000 for each bronze medal.

That's nothing to be scoffed at—but it's far from where the bulk of Biles' wealth comes from.

Lucrative Endorsement Deals

She also has endorsement deals with some of the world's biggest brands, including Uber Eats, Hersey's, Visa, and United Airlines, among many others.

It's reported she makes around $5 million a year from these deals. And given her millions of followers on various social media channels, it's fair to say her YOY calculations are only going up.

Other Assets

Biles owns at least one Texas property she supposedly bought for $750,000. She has other minor personal property assets, including expensive jewelry and vehicles. She also sold her family home for around $200,000.

All in all, it's reported that Simone biles could be worth as much as $19 million in 2022. However, expect that figure to rise rapidly, given she's such a brand darling these days.

Simone Biles' Salary

As we mentioned above, today, Simone Biles makes most of her annual salary of about $5 million from endorsement deals and her active participation on social media.

She has close to 7 million very active followers on Instagram alone. Her Twitter account, @Simone_Biles, boasts almost 2 million followers. She also has an Instagram account for her bulldogs, @thebilesfrenchies, with 82,000 followers.

She also draws royalties and salary from various sources, including a best-selling book she co-wrote in 2017 and her C-suite position with startup Cerebral. Other payouts have come from television appearances, including stints on Dancing With the Stars.

She is a careful spender and prefers to save her earnings rather than squander them. How many other wealthy 25 years old practice such restraint? Sadly, for Biles, this attitude is due to her "fear of going broke," perhaps a result of a decidedly less-privileged upbringing.

However, her net worth puts her above the average American athlete as far as wealth goes. It's clear that now, she can afford to splurge a little!

While we assume she is investing at least a portion of her money, no exact figures are available on her portfolio. Of course, she's still young, so she still has a lot of time to decide on her investment strategy.

Somehow, given her frugal nature, we don't see crypto on the cards for her!

Simone Biles' Early Life

Sadly, Biles was not born into the best of circumstances. At the time of her birth, both of her parents were struggling with addiction. Her father abandoned the family early on, and her mother relinquished Simone and her three siblings to the foster system.

Later, her grandfather adopted Simone and her younger sister Adria, while her remaining older siblings were adopted by their great aunt. Simone's grandfather and step-grandmother were comfortably well-off professionals. Air Force veteran Ron Biles retired from work as a traffic controller, and Registered Nurse Nellie Biles once ran nursing homes.

Once adopted, the children moved into their new neighborhood of Spring in Houston, Texas. Biles has only fond memories of her childhood from that point on.

She was first exposed to gymnastics when on a school field trip at the age of six. As she watched the gymnasts perform, she started to imitate their movements. The coaches looking on were impressed and suggested Biles join the classes.

She began training at Bannon's Gymnastix in Houston with Coach Aimee Boorman. The sport proved an excellent outlet for her energy, and, with her natural talent confirmed, she started on the path toward becoming a world-class gymnast.

Later, she left public school altogether to focus on her training. Before entering university, she trained as much as 32 hours a week around her homeschooling.

Simone Biles' Career

Simone Bile's career began at a very young age when she left secondary education behind (outside of homeschooling) to pursue a close-to-full-time training schedule.

High School Career

Between 2013 to 2015, Biles was the first gymnast to win world all-around titles three times in a row.

She was only a high school freshman when she took third place in the American Classic in Houston, Texas. When the event was held in Huntsville, Alabama, the following year, she came first. She was also named a member of the United States Junior National Team, catapulting her to international gymnastics stardom.

In 2014, she won gold in the World Artistic Gymnastics Championships. In 2015, she came first at the AT&T American Cup (Arlington, Texas).

Before even qualifying for her first Olympics, she was a three-time winner of the World Artistic Gymnastics Championship and had 14 World Championship medals proudly hanging in her display case.

A Winning Medal Collection

Simone Biles attended the Summer Olympics in Rio de Janeiro in 2016. It was her first time competing at the event—typically the pinnacle of an athlete's career.

She took home four gold medals and a bronze that year. And in 2020, in Tokyo, she won a silver and bronze medal—despite withdrawing from the women's all-around gymnastics final.

Since then, she's gone on to acquire the most world and gold medals of any female athlete. She also has the most world titles. Perhaps unsurprisingly, she was named "Team USA Female Olympic Athlete of the Year" in 2015.

Other notable honors include Glamour Award for The Record Breaker (2016), Shorty Award for Best in Sports (2017), and the Best Female Athlete ESPY Award (2017).

In 2021, she was the youngest person to ever received the Presidential Medal of Freedom. The award honored her charitable work in the sexual assault and mental health sectors. It was bestowed upon her by President Biden, who said, "Today, she adds to her medal count."

Other Career Highlights

Simone Biles is no stranger to creating a job for herself.

In 2017, she co-wrote a YA book called Courage to Soar: A Body in Motion, A Life in Balance with journalist Michelle Burford. Unsurprisingly, it rocketed to the top of The New York Times' best sellers list for its category.

In 2021, she took a position at startup Cerebral as their Chief Impact Officer—she has a stake in the company and, we assume, draws a salary. It seems winning multiple golds on the mat is one sure-fire way to make your resume stand out!

Simone Biles' Relationship

It's the question on everyone's lips: Who is 25-year-old Simone Biles engaged to?

Her fiance Jonathan Owens recently—and by that, we mean Valentine's Day 2022—got down on one knee, offering Biles a ring adorned with an 8-carat oval-cut diamond. The value of the ring is estimated at $300,000.

The celebrated gymnast is marrying a fellow professional athlete. Owens is an NFL star who plays for the Houston Texans.

The couple shares a 4,000-square-foot home just outside of Houston with their beloved, equally famous pups. The property was purchased by Biles for $750,000 in 2021 and boasts a pool, four spacious bedrooms, and three-and-a-half bathrooms.

Simone Biles’ Family

The biological parents are Simone Biles are Kelvin Clemons and Shannon Biles. However, both her parents abandoned her and her siblings at a young age.

The children were adopted by their family members: Simone and her sister Adria by her grandparents, Ron and Nellie Biles, and her other siblings by their great aunt, Harriett.

She has three siblings, both older and younger than her: sisters Adria and Ashley and brother Tevin Biles-Thomas. She also has two pseudo siblings, Ron Jr. and Adam Biles. Though they are her uncles, she calls them her brothers.

Simone’s mother was Belizean, and she still connects with her heritage, even holding Belizean Citizenship. She was raised Catholic by her grandparents.

FAQs

So far, we’ve focused a lot on Simone Biles’ net worth, life history, and career highlights. Now for the fun part: the frequently asked questions!

How Many Olympic Games Has Simone Bile Competed In?

Simone Biles competed in two Olympic Games. She won five medals during the 2016 Olympic Games in Rio de Janeiro. And despite dropping out of Tokyo in 2022, she still won two medals.

Was Simone Biles Adopted?

Sadly, Simone Biles’ biological parents struggled with addiction and left their children in the care of the foster system. Not long after, Biles and her siblings were adopted by family members. Biles went to live in her grandparent’s home.

Did Simone Biles Go to College?

It’s complicated!

Simone was accepted into UCLA but deferred her enrolment to attend the 2016 Rio Olympics. In 2018, Biles began pursuing a business administration degree at the University of the People. She is also a global ambassador for the tuition-free college.

Simone Biles: A Shining Star in the World of Sport

There’s no denying Simone Biles will go down in history as one of the world’s greatest athletes ever to walk (or back handspring) the Earth.

What’s more, she managed to amass a substantial nest egg during her time on the world stage. Simone Biles’ net worth is nothing to scoff at. This wealth, if managed well, should keep the athlete and her loved ones comfortable for the rest of their lives.

Whatever she decides to do next, we’ll be watching!

Our net worths are for entertainment purposes only. We do our best to provide accurate figures, but we cannot guarantee their accuracy. The figures are based on public information and estimates, and may not reflect the true value of assets or liabilities.