Simone Biles Net Worth: How rich is the gymnast and Olympic gold medalist?

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 $25 million. This impressive figure is the result of her exceptional gymnastics career, lucrative endorsement 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.

Simone Biles's Endorsement Deals and Sponsorships

Biles' success in gymnastics opened the door to numerous endorsement 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 endorsements 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 endorsements, Biles has worked with other prominent brands such as Hershey's, Uber Eats, Beats by Dre, and Core Power. These endorsement deals have collectively earned her millions of dollars, making her one of the highest-paid gymnasts in the world.

Business Ventures and Investments

Beyond endorsements, 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.