Success Story July 24, 2021 at 09:00 am

Simone Biles’ stunning net worth revealed

Abu Mubarik July 24, 2021 at 09:00 am

July 24, 2021 at 09:00 am | Success Story

INDIANAPOLIS, INDIANA - MAY 22: Simone Biles smiles after competing her floor routine during the 2021 GK U.S. Classic gymnastics competition at the Indiana Convention Center on May 22, 2021 in Indianapolis, Indiana. (Photo by Emilee Chinn/Getty Images)

Simone Biles is arguably the most accomplished gymnast in U.S. history with 30 combined world championship and Olympic medals to her name. Of the 30, she has four Olympics gold medals and an Olympics bronze medal. The rest were won in other championships, both local and international.

At 24, Biles has not lost in any competition in eight years. According to NBC Sports, she could become the most decorated American gymnast in Olympic history if she ties or breaks the record for most Olympic medals won by a U.S. gymnast, as well as the record for the most gold medals won by a U.S. gymnast. 

Biles started her career in gymnastics when she was only eight. By 14, she finished third in the American Classic in Houston. In 2012, she competed in the American Classic in Huntsville and placed first. That same year, she was named to the US Junior National Team.

She made her senior debut at the American Cup before competing at the City of Jesolo Trophy and helped the United States team win a gold medal. At the 2013 Artistic Gymnastics Championships, she placed first after a disastrous showing at the 2013 US Classic.

In 2015, she was first at the AT&T American Cup in Arlington, Texas. She represented the United States at the 2014 World Artistic Gymnastics Championships in Glasgow, Scotland, and won the competition three consecutive times.

Biles also represented the United States in the Summer Olympics in Brazil and won her first Olympics medal. She followed it up with a gold medal in the individual all-around category. Also, she won bronze at the balance beam final and gold in the women’s floor exercise final. In total, she won four Olympics medals.

Her success on and off the field means that Biles has amassed a fortune. According to Celebrity Net Worth, she is worth $6 million and counting. She makes money both on and off the field. The majority of her earnings come from brand endorsements. Some of the companies that have sought her appeal include Hershey’s, Nike, and Kellogg’s, Yahoo Finance reports.

Biles recently dumped Nike for the athleisure company Athleta over the former’s unfavorable maternity policy. She told The Wall Street Journal Athleta stands for everything she stands for.

As part of her deal with Athleta, she will develop her own activewear line and Athleta will also sponsor her tour to pull attention to U.S. gymnastics that has been rocked by sexual scandals. Should she win big at the Tokyo Olympics, her endorsements and paychecks are expected to grow big.

Despite being frugal, the athlete did splash the cash on porch mansions. In 2020, she announced on social media that she has purchased a new home and showed off a few pictures. It will be recalled that in 2017, she sold her childhood home in Houston for $289,000.

Biles grew up in hardship and so her idea of frugality is quite understandable. Her mother struggled with drugs and so she and her three siblings were adopted by her grandmother, Nellie, and grandfather, Ron. They nurtured her to the success she is enjoying now.

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