Simone Biles’ 2024 Net Worth is So High It’s Incredible
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Simone Biles, the most decorated American gymnast with seven Olympic medals, made headlines when she stepped back from many events at the Tokyo Olympics in 2021 due to health concerns. Despite this, she still won bronze and silver medals. Now, she’s gearing up for a big return at the 2024 Paris Olympics.
How Simone Biles Got Started
Biles began gymnastics at age 6 after a daycare field trip to a gym inspired her. By age 10, she was already competing at a high level. She became a top gymnast and made history as the first Black woman to win all-around gold at the World Championships in 2013. Her remarkable skills made her a favorite for the 2016 Olympics.
Simone Biles’ Net Worth in 2024
In 2024, Simone Biles is worth about $20 million. Most of her money comes from endorsement deals, not from competing in gymnastics.
Earnings from the Olympics
Olympic athletes don’t earn much from competing. For example, Biles earned $110,000 in total from her four gold medals and one bronze in 2016, and $37,500 for her 2021 medals. Most of her earnings come from endorsements.
Endorsement Deals
Biles makes a significant amount from endorsements. She earns at least $5 million a year, and this can go up to $10 million, as seen in 2022. She has worked with big brands like Athleta, Visa, and UberEats.
Sponsorship with Nike
Biles was sponsored by Nike starting in 2015 but left the brand to join Athleta before the Tokyo Olympics. She chose Athleta because their values aligned more with her own and they supported her beyond just being an athlete.
Is Simone Biles the Richest Gymnast?
Yes, Biles is the richest gymnast in the world. She was the highest-paid female gymnast in 2022, making $10 million that year. Despite her wealth, Biles is known for being frugal and only spending on things she feels she has truly earned.
For more details, check out the full article on Parade.
https://parade.com/celebrities/simone-biles-net-worth