Simone Biles is more than just the most decorated gymnast of all time – she’s a global superstar and one of the highest-paid athletes in the world. With a net worth of $16 million at just 27 years old, Biles has capitalized on her incredible athletic prowess to build a lucrative career endorsing major brands and cementing her legacy. Let’s take a closer look at Simone Biles Net Worth In 2024.
The Early Years and Rise to Stardom
Born in Columbus, Ohio in 1997, Simone Biles had a turbulent childhood spent in and out of foster care before her grandmother began raising her in the Houston suburbs in 2000. Despite the challenges, Biles’ immense gymnastic talents were evident from a very young age.
By 16, Biles was already competing internationally and claiming major titles. In 2013, she won her first of a record 8 US Championships. The next year, she helped the US team claim gold at the World Championships.
Biles’ stratospheric rise culminated at the 2016 Rio Olympics, where she won 4 golds and a bronze as part of the famous “Final Five” US gymnastics team. Her historic performance cemented her status as one of the greatest gymnasts ever.
Olympic Glory and Massive Endorsement Deals
In the lead-up to the 2016 Olympics, major brands were already lining up to associate with the rising star. Biles inked deals with Tide, Nike, GK Elite Sportswear, and even graced a special Wheaties box with her Final Five teammates.
But it was after her Olympic triumph that the true endorsement windfall began. Between 2019-2021 ahead of the delayed 2020 Tokyo Olympics, Biles raked in over $20 million from sponsors like United Airlines, Hershey’s, Proctor & Gamble, Mattress Firm, Beats by Dre, Athleta, Visa, Oreo, Uber Eats and more.
In a power move in 2021, Biles left long-time sponsor Nike for a reported $5+ million deal with Athleta, citing better alignment with the activewear brand’s values and mission.
The Twisties Setback and Comeback
Biles’ road wasn’t always smooth. At the 2020 Tokyo Olympics, she struggled with the “twisties” – a dangerous mental block that causes disorientation during high-flying maneuvers. She withdrew from multiple events but still claimed bronze and silver team medals.
The setback only fueled Biles’ determination. In 2023 at age 26, she captured an incredible 8th US Championship title, solidifying her GOAT (Greatest of All Time) status.
Building Her Brand Beyond Gymnastics
While her Olympic window may be closing, Biles’ savvy business moves position her for long-term success. She’s signed deals for a Facebook Watch docuseries, a MasterClass session, and penned a memoir “Courage to Soar.”
The outspoken advocate has also used her platform to call out systemic abuse issues in gymnastics that enabled team doctor Larry Nassar’s horrific crimes against Biles and hundreds of other athletes.
With lucrative sponsorships, residual media income, and smart investments like her $750K Houston home, Biles’ net worth is only set to grow. At 27, she’s already built a $16 million fortune – proving she’s as dominant in business as she is on the gymnastics mat. I sincerely hope you like reading this “Simone Biles Net Worth In 2024? How the Gymnast Became a Millionaire” article.
We are thrilled to feature Dory Larrabee Zayas, a NYC-based beauty, fashion, and parenting writer with a keen eye for celebrity news and biography journalism. Dory’s insightful contributions appear in renowned publications such as Allure, Well+Good, Forbes, and RealSelf. Known for her fresh perspective on midsize fashion, beauty trends, and parenting, she brings a wealth of expertise and diverse viewpoints to CelebrityPlus.net.
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