After securing the all-around gymnastics title for her second Olympic gold in Paris, Simone Biles has solidified her status as the most decorated gymnast in history. With nine Olympic medals, including six golds, and 30 World Championship medals, Biles stands at the pinnacle of gymnastics. But how much has this incredible success translated into financial earnings?
According to Celebrity Net Worth, Biles’ net worth is estimated at $20 million. However, only a minority of this wealth is derived from her gymnastics career earnings. The bulk of Biles’ net worth comes from endorsements and brand deals.
Endorsements and Brand Deals: The Real Money Makers
In 2023, Biles earned $7.1 million, with a staggering $7 million coming from endorsements and just the remaining $100,000 from gymnastics. This significant endorsement income tied her for the 14th-highest-paid female athlete last year, according to Forbes.
Forbes lists the following companies as brand partners for Biles:
- United Airlines
- Visa
- GK Elite (gymnastics apparel)
- K18 (haircare)
- Athleta
Additionally, Celebrity Net Worth highlights more companies that have partnered with Biles, including:
- Tide
- The Hershey Company
- Procter & Gamble
- Mattress Firm
- Spieth America
- Beats by Dre
- Oreo
- Uber Eats
- MasterClass
- Facebook Watch
Earnings from Olympic Medals
According to CNBC, the United States Olympic Committee rewards athletes financially for podium finishes. Gold medal winners receive $38,000, silver medalists get $23,000, and bronze winners earn $15,000. This year, Biles earned $38,000 for her women’s team gymnastics gold medal. She is set to compete in the all-around final against fellow American Suni Lee.
Biles, who won the all-around title at Rio 2016, had been the favourite at Tokyo 2020 before she pulled out due to the “twisties,” a phenomenon causing gymnasts to lose their sense of space and direction while performing in the air. Despite this setback, Biles has continued to dominate the sport, becoming the oldest winner of the all-around event in 72 years.
Celebrating Her Legacy
After her latest performance, Biles celebrated by wearing a sparkly goat necklace, a nod to her legacy as the Greatest of All Time (GOAT) in gymnastics. “It’s a little ode… a lot of people love it. They always call me the GOAT, so I thought it would be really special if I got one made,” she explained. “The haters hate it, but I like that even more. It’s just a special part of me that I have here.”
At 27, Biles is the first gymnast to win non-consecutive all-around Olympic titles, showcasing her longevity in a sport traditionally dominated by teenagers. Her remarkable career continues to inspire and set new standards in gymnastics.
In addition to her athletic achievements, Biles has used her platform to voice her opinions. After winning her latest gold medal, she took to social media to troll ex-president Donald Trump following his remarks about Kamala Harris’ racial heritage at the National Association of Black Journalists (NABJ) conference. Posting photos of herself with her gold medal, Biles captioned the images: “I love my Black job,” a clear response to Trump’s controversial comments about “Black jobs.”
