How Much Does Simone Biles Make as an Olympic Gymnast? Her Net Worth May Surprise Fans

Simone Biles, widely regarded as one of the most renowned gymnasts of all time, has amassed an impressive fortune throughout her illustrious career. With a staggering 30 World Championship titles and eight Olympic medals, including five gold, one silver, and two bronze, Biles has solidified her position as a global phenomenon in the world of gymnastics.

Despite her immense success in the sport, Biles’ net worth doesn’t primarily stem from her competition winnings. According to Forbes, she earned a total of $7.1 million in 2023, with a mere $100,000 coming from competing and winnings. The bulk of her income, a staggering $7 million, is attributed to various endorsement deals with prominent brands such as MasterClass, Athleta, and UberEats.

As Biles continues to make waves in the 2024 Olympics, her earnings are expected to increase. However, it’s interesting to note that her Olympic winnings alone won’t significantly contribute to her net worth. According to Parade, athletes who compete in the Olympics without winning medals don’t receive payment for their participation. Medalists, on the other hand, receive a relatively modest sum, with $15,000 awarded for bronze, $22,500 for silver, and $37,500 for gold.

Throughout her Olympic career, Biles has accumulated a total of $185,000 in winnings, including her recent gold medal. Should she secure another medal in the all-around final, her earnings will undoubtedly increase.

In December 2023, Forbes ranked Biles as the 16th richest female athlete globally, with her net worth surpassing that of her gymnastics counterparts. Her rise in salary can be attributed to her triumphant return to gymnastics, where she achieved remarkable feats, including becoming the first woman to complete the Biles II vault and setting a world championships record. Additionally, her Snapchat series, “Daring Simone Biles,” earned a NAACP Image Award in February 2023, further contributing to her financial success.

As Biles continues to dominate the world of gymnastics, her net worth is expected to soar, solidifying her position as one of the most successful and wealthiest athletes in the sport.