Simone Biles is the greatest gymnast of all time, with her staggering collection of medals. Discover the inside story of Simone’s earnings, a testament to her perseverance and resilience as a gymnast.

Olympic Triumphs and Earnings

Simone Biles’s performance at the 2016 Rio Olympics is genuinely remarkable. She wins five medals: four gold and one bronze. The financial rewards of representing America on such a grand stage are significant. Per CNBC, United States Olympians earn $37,500 for each gold medal, $22,500 for each silver medal, and $15,000 for each bronze medal in 2018, reflecting a 50 percent increase from the 2016 figures. Simone’s earnings for her victories in 2016 are between $82,500 and $100,000. Wins of a similar amount at the 2024 Paris Olympics could earn at least $165,000.

Endorsements Galore

Biles’s talent makes brands eager to associate with her. In April 2021, she left Nike for Athleta, designing products and capsule collections. In addition to Athleta, Simone is the spokesperson for multiple companies, including SK-II, Hershey’s, Uber Eats, Candid Dental, Kellogg’s, Mattress Firm, and Beats by Dre. According to Forbes, in 2021, Biles earns at least $5 million annually in endorsements.

Entrepreneurial Ventures

Biles is at the top of her sport and entrepreneurship due to her resilience and determination. Suveen Sahib, the co-founder and chief executive of K18, praises Biles: “Simone Biles is synonymous with pushing boundaries, and her impact extends far beyond her sport. This partnership is a testament to resilience, the power of science in elevating self-expression, and the belief that when we tap into our inner strength, anything is possible—whether it’s a gold medal performance or transforming the future of hair care.” This journey of resilience and transformation is sure to inspire many.

Diversifying Revenue Streams

 

Biles’s autobiography, investments, and endorsements are responsible for her 2021 earnings. Her income stream now consists of GK Elite leotards and the Athleta collection. Her diversifying approach to revenue generation showcases Simone’s business acumen.

 

Social Media Influence

 

Biles’s 4.3 million Instagram followers provide ample opportunities for her to earn money through sponsored content. Recent posts featuring Oreo and Core Power ads demonstrate her lucrative social media presence.

 

Net Worth in 2024

According to Celebrity Net Worth, Biles’s wealth is approximately $20 million. In 2021, she will become the Chief Impact Officer of the mental health startup Cerebral. Cerebral’s net worth is $4.8 billion, with $462 million in investor funding. Services consist of online counseling, therapy, and medication management for mental health conditions. Her involvement is a testament to her belief that mental health is as important as physical health.

 

“Mental health is just as important as physical health, but for far too long, the stigma of mental health has prevented too many people from seeking help,” says Biles.

 

“I have my challenges with mental health, and therapy has been very empowering for me as I try to be the best person that I can be. I believe everyone should have access to mental health resources, and Cerebral gives me the ability to personalize my mental health care experience.” 

 

Simone Biles’s transformation from gymnastics star to financial giant proves her talent, persistence, and skill.