- Simone Biles is the most successful athlete to ever compete in gymnastics.
- Biles' net worth includes bonuses from her Olympic medals, and a wide array of sponsorships.
Simone Biles is widely recognized as the greatest gymnast of all time.
She regularly pulls off gravity-defying stunts that other elite gymnasts don't dare attempt. And with seven total Olympic medals and 30 World Championship medals to her name, Biles lives up to the "GOAT" title frequently seen next to her name.
Her unparalleled success in the gym over the last decade has also been highly profitable. Biles' exact net worth is unclear, but it includes winnings from some of her medals and a slew of lucrative brand deals.
Here's everything you need to know about how Biles makes and spends her money.
Biles' Olympic medals
Most athletes who earn medals at the Olympic Games receive some type of bonus from their home countries.
For Americans like Biles, the US Olympic and Paralympic Committee awards its athletes $37,500 for gold medals, $22,500 for silver, and $15,000 for bronze.
So when Biles won a silver and bronze medal in the Tokyo Olympics, she also took home $37,500 in medal bonuses.
Back in 2016, when Biles won four gold medals and one bronze medal at the Rio Olympics, she earned $110,000 in medal bonuses. At the time, the US Olympic and Paralympic Committee paid out just $25,000 for golds, $15,000 for silvers, and $10,000 for bronzes.
In total, Biles has earned $147,500 from her Olympic medals, and she'll likely earn even more at the 2024 Olympics in Paris.
Biles' brand deals and endorsements
The 27-year-old Biles earns the vast majority of her money through endorsement deals with top companies.
The sponsors listed on Biles' website include the cereal brand Wheaties, the clothing brand Athleta, Powerade, dog food company Nulo, online education platform MasterClass, cybersecurity startup Axonius, and the gymnastics apparel company GK Elite (Biles even has her own line of GK leotards).
Over the years, Biles has also worked with Uber Eats, Beats by Dre, Core Power, Hershey's, Mattress Firm, United Airlines, Visa, and Subway.
Biles also had a longtime Nike sponsorship dating back to 2015. But she ditched the brand in 2021 and opted to work with the Gap subsidiary Athleta instead. Biles never gave an explicit reason for the switch-up, but in multiple interviews, she made clear that Athleta's values were aligned with her own.
How Biles spends her money
Biles has spoken publicly about being frugal with her money, but her social media accounts show that she's occasionally splurged on well-earned luxury purchases for herself and those around her.
Biles drives an array of luxury cars, including a Range Rover Evoque convertible she nicknamed "Tiff," and a matte black Mercedes G-Wagon.
During Biles' time off, she enjoys vacationing with her husband and her friends. The gymnast's Instagram page is littered with stunning photos from beachy, tropical locations like Hawaii and Turks and Caicos.
When she's not busy training or competing, Biles spends time spoiling her French Bulldogs: Lilo and Rambo. They often sport luxury clothing and accessories in their Instagram posts.
Biles and her husband Jonathan Owens, an NFL football player, have also purchased a sprawling Texas property and have been building their dream home — and posting updates on Instagram for their followers to see.
The home has been under construction since at least September 2023, when Biles first posted a picture of herself on an unfinished staircase.