Simone Biles Net Worth, Early Life, Career

Simone Biles Net Worth

Simone Biles, the first gymnast to be among the highest-paid female athletes, is a synonymous name with greatness. With millions of fortune, this Olympic gold medalist has made headlines several times. This article provides a brief view of Simone Biles net worth. And it also explores her early life and gymnastics career.

Who is Simone Biles?

Simone Arianne Biles Owens, widely known as Simone Biles, is an Artistic Gymnast from America. She is largely popular with the title GOAT (the greatest of all time) in the gymnastic world. Also, she is one of the most prolific Olympic medal winners, with seven medals.

Biles first got widespread fame during the 2016 Summer Olympics in Rio de Janeiro, where she won four gold medals and a bronze medal. It was one of her most successful career achievements. She performed a stunning and gravity-defying move called the “Biles.”

Simone Biles Net Worth

This move, a double layout with a half turn followed by a double backflip, has since become a signature move in gymnastics. Her other most significant achievement is the Presidential Award of Freedom and winning World Championship medals 25 times.

Full Name Simone Arianne Biles Owens
Born March 14, 1997 (age 26)
Birthplace Columbus, Ohio, U.S.
Hometown Spring, Texas, U.S
Nationality American
Profession Artistic Gymnast
Height 4 feet 8 inches (1.4 meters)
Weight 47 kg
Total Gold Medals 25
Social Media Facebook, Instagram, Twitter
Spouse Jonathan Owens (m. 2023)
Net Worth $16 Million
Annual Income $5 Million

How Much is Simone Biles Net Worth?

As of 2023, Simone Biles owns around $16 million in net worth. According to Forbes, her income in 2022 was $10 million from endorsements alone. Biles’s earnings primarily come from her successful gymnastics career and her high-profile endorsements.

Early Life

Born in 1997 in Ohio, Simone Biles grew up in foster care until she was three. She was raised by her maternal grandparents, Ron Biles, and Nellie Cayetano Biles. They adopted Simone, along with her younger sister, when she was six. Biles holds both American and Belizean citizenship. The Biles family is religiously Catholic.

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For her education, Simone studied at Benfer Elementary School but opted for homeschooling in 2012. That allowed her to increase her gymnastics training. She completed her secondary education as a homeschooler and graduated in 2015.

Initially, Simone planned to attend UCLA after the 2016 Summer Olympics in Rio de Janeiro. However, in July 2015, she decided to turn professional, forfeiting her NCAA eligibility. So that she can compete for UCLA.

Career Overview

Biles’s career in gymnastics took off when she started competing at a national level. She made her debut at the American Classic when she was 14. Over the next few years, Simone continued to improve and impress, winning several national and international competitions.

Simone Biles Net Worth

In 2013, Biles had her breakthrough year at the World Artistic Gymnastics Championships in Belgium. Including the all-around title, she won two gold medals there. That one event made her position among the world’s best gymnasts.

Her success continued in 2014 and 2015 when she dominated the gymnastics scene with even more victories. Each of these years at WAGC, she earned four gold medals.

Olympics and Further Success

It was the 2016 Summer Olympics that truly brought Biles wide fame. Her exceptional performances led her to win four gold medals in the all-around, vault, floor exercise, and team competitions. On the balance beam, she also won a bronze medal.

Following her Olympic success, Simone took a brief break from gymnastics. But she returned stronger than ever. She continued to setting new records and winning more world championship titles in the years that followed.

During her hiatus, the athletes co-wrote her autobiography, Courage to Soar. It was 2017’s best-selling book in The New York Times.

After her break, Biles returned in 2018, stronger than ever. She continued to setting new records and winning more world championship titles in the years that followed. Once again in WAGC, she managed to bag four gold medals. She made it to five gold medals at the 2019 World Championships.

Previously won four gold, Biles received one silver and one bronze medal at the 2020 Tokyo Olympics on the Balance beam. She is the youngest one to receive the Presidential Medal of Freedom award in 2022. Reportedly, Biles will return at the 2023 U.S. Classic in August.

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Source Behind Simone Biles Net Worth

Gymnastics Career

Biles’s dominance in the sport has made her a highly sought-after athlete. And her successes have translated into significant financial rewards.

Throughout her career, Simone has earned prize money, sponsorships, and endorsements from gymnastics competitions and events. And these were more than enough to make her a millionaire. For example, just in the Rio Olympics, she earned $1.2 million from the prize money.

Endorsements

Besides her on-field performance, endorsements, and sponsorships are the major sources behind Simone Biles’s fortune. She was the highest-paid athlete in the 2020 Olympics in terms of endorsements. Based on Forbes’s estimation, Simone earns over $5 million a year just from endorsements.

She has secured numerous endorsements with major brands. Including Kellogg’s, and Beats by Dre, she endorsed Nike for a long time. All these partnerships have not only brought her substantial income but have also elevated her status as a global sporting icon.

FAQs

Why is Simone Biles so famous?

She is mostly famous for her incredible gymnastics talent and performances.

When did Simone Biles fall in love with gymnastics?

Biles fell in love with gymnastics at a young age and started taking gymnastics classes just at six.

Is Simone Biles an Olympic gold medalist?

Yes, she is. So far, Biles has been a four-time Olympic gold medalist.

What is Simone Biles doing in 2023?

Currently, Simone is preparing to take part in the 2023 U.S. Classic, a gymnastics competition scheduled for the coming August. Off-field, Simone got married in April 2023 to NFL player Jonathan Owens.

Final Thoughts

With twenty-five world titles and other honors, Simone Biles net worth is certainly impressive for her career. Her championships and record-breaking performances have made her one of the greatest gymnasts of all time. She has already achieved this much success at such a young age. Undoubtedly, her achievements are sure to increase in the coming years.