How much money does Simone Biles make? Salary, sponsorships, medals and net worth
Widely considered the greatest gymnast ever, the American has won it all, which would suggest she makes a pretty penny but how much are we talking about?
As the subject of a recent Netflix documentary entitled ‘Simone Biles Rising’, the interest in the gymnastics star has only increased and now with the Olympics upon us and the American star having completed arguably the most difficult move in the sport, there’s no denying that Simone Biles is a genuine star and undoubtedly, there’s more to come.
OK, so what’s Simone Biles’ net worth?
With a total of seven Olympic medals (four gold) and 30 World Championship medals to her name, Simone Biles is understandably a very successful woman. To that end, she has an estimated net worth of $20 million, however, it’s interesting to note that like most Olympic athletes, the large majority of that amount comes from endorsements rather than an actual salary. Where sponsors are concerned, there has been a wide variety including the cereal brand Wheaties, the clothing brand Athleta, Powerade, the dog food company Nulo, the online education platform MasterClass, cybersecurity startup Axonius, and the gymnastics apparel company GK Elite where she has her own line of leotards.
It doesn’t stop there either, as her official website lists even more sponsors such as Uber Eats, Beats by Dre, Core Power, Hershey’s, Mattress Firm, United Airlines, Visa, and Subway. With brands like that, one can imagine that the 27-year-old has earned quite a bit in her career so far. How much? According to a 2021 Forbes estimate, she earns at least $5 million annually in endorsements. That figure has likely increased since that time, given that she earned $10 million in 2022 alone.
Now, you might be wondering about the Olympics themselves. Surely athletes earn themselves a big payday if they win, however, the amount most receive is not nearly as high as you might imagine. In the United States, an Olympic medal winner receives $37,500 for gold, $22,500 for silver, and $15,000 for bronze, which is not a lot of money when considering that the nation, unlike other countries, does not provide any funding for its elite sports nor for the United States Olympic & Paralympic Committee. With this in mind, we can see that Biles has earned approximately $147,500 from her total medal haul, a figure almost certainly set to change in Paris this summer.