Simone Biles’s Net Worth in 2024: The Olympian Made History in and Out of the Gym

The decorated athlete is an 11-time Olympic medalist with an impressive roster of brand sponsors.

Simone Biles / Kristy Sparow/Getty Images

With SI Swimsuit’s Net Worth Series: Empowering Equal Pay, our goal is to shine a light on incredible athletes while examining income disparities and promoting equal pay across industries.

Simone Biles is the most decorated U.S. gymnast of all time. In the gym, her dominance and incredible skill is undeniable.

Earlier this summer, she dominated at the Olympic games in Paris, France. Over two weeks of competition, she helped the U.S. women’s gymnastics team to a team gold medal—what they considered redemption following a silver at the 2020 Tokyo games—and earned two individual golds (including the all-around title) and one individual silver.

Simone Biles / Naomi Baker/Getty Images

Biles has a total of five gymnastics skills named after her, the second most among all current and former professional gymnasts.

Beyond the gym, the 27-year-old has established herself as an outspoken advocate for mental health. At the 2020 Tokyo games, she suffered from a case of the “twisties,” a mental block that caused her to withdraw during the team final. She took two years away from competition following the 2021 incident, and then came back better than before—particularly, mentally.

“I tried to be very intentional about everything I was doing this time around, to ensure I feel comfortable and confident enough to train at a high level, and to simply compete again,” she said in a PORTER essay. “And, through it all, my mental health has been a priority; I’ve been keeping up with my weekly therapy and I’m proud of that.”

Her résumé likewise features two SI Swimsuit photo shoots, in 2017 and 2019. During both, she proved that she is more than just a force in the gym, she’s a force in front of the camera, too.

How did Simone Biles get her start?

For the past decade, Biles’s commanding presence in the gym has been unmatched. She was only 6 years old when she first tried gymnastics, and by 16, she was on her way to becoming the dominant force that fans know and appreciate today.

In 2013, her elite gymnastics career began in earnest with two all-around titles, first at the 2013 U.S. National Gymnastics Championships and then at the 2013 World Championships. With the latter win, Biles became the first African American to secure gold in the world all-around competition.

Simone Biles / Dean Mouhtaropoulos/Getty Images

She repeated the feat for the two consecutive years following her debut, becoming the first female gymnast to win three consecutive world all-around titles and only the second to win three consecutive national all-around titles.

Since, Biles has only confirmed her dominance in the gym, earning spots on three consecutive Olympic teams, helping them to two gold and one silver team medals and a handful of individual medals, too.

Simone Biles college career

In the fall of 2014, Biles verbally committed to UCLA, where she intended to compete as a Division I gymnast. She signed a National Letter of Intent that winter, but made it clear that she would defer enrollment until after the 2016 Rio de Janeiro Olympics, her debut summer games. But the following summer, she decided to forego NCAA eligibility to turn professional.

Simone Biles 2024 salary

USA Gymnastics, unlike other professional sports leagues, doesn’t provide annual salaries to its Women’s Senior National Team members. Last season, gymnasts could earn monthly stipends based on their performances in both the previous Olympics and World Championships. 

Rather than a set income, gymnasts rely on brand deals, endorsements and prize money for earning a living wage. In 2023, Forbes estimated that Biles earned about $7.1 million dollars—with a majority coming from “off-field” endeavors (including brand deals, speaking engagements and the like).

Simone Biles / Naomi Baker/Getty Images

At the Paris Olympic games last month, Biles added to her year-to-date earnings. According to NPR, the U.S. Olympic and Paralympic Committee offers $37,500 to gold medalists, $22,500 to silver medalists and $15,000 to bronze medalists. In other words, Biles earned an extra $135,000 thanks to her three gold medals and one silver medal in Paris.

Simone Biles endorsement deals and brand partners

With a lineup that includes Visa, Nike and The Hershey Company, it seems that there are few brands the athlete hasn’t worked with over the years. But her current partners include the likes of Athleta, GK Elite, MasterClass, Powerade and Wheaties.

The athlete is also available for speaking engagements with rates starting at $200,000, according to All American Entertainment.

Simone Biles net worth

As of late July 2024, Celebrity Net Worth estimated Biles’s net worth at $20 million. The sum can largely be attributed to her series of brand deals, but likewise includes speaking engagement fees, competition prizes (like those awarded for winning Olympic medals) and stipends from USA Gymnastics.

Simone Biles’s net worth compared to other professional gymnasts

Biles’s net worth far surpasses that of other current gymnasts. Olympic teammate and the 2020 Tokyo games all-around gold medalist Suni Lee’s net worth is estimated at just $3 million, more than five times less than Biles’s. Former teammate Aly Raisman is valued at $4 million. She has surpassed her predecessors, too: the popular retired gymnast Shawn Johnson is valued at $9 million.