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Simone Biles is not only a global icon in the world of gymnastics but also a powerhouse in the financial realm. Her unparalleled skill set, mental toughness, and resilience have earned her an impressive array of accolades, from Olympic and World Championship gold medals to multimillion-dollar endorsement deals. While her gymnastics career has been nothing short of extraordinary, her financial success is equally remarkable.

In this article, we’ll take a closer look at how Simone Biles makes her money, breaking down her income streams, including endorsements, prize money, business ventures, and the immense impact of her personal brand. We’ll also explore how her advocacy for mental health and her post-gymnastics opportunities position her to continue growing her wealth for years to come.

1. The Power of Endorsements: Simone Biles as a Brand Icon

For high-profile athletes like Simone Biles, endorsements play a massive role in their income. With her global fame, dominance in gymnastics, and inspiring personality, Biles has attracted partnerships with some of the biggest brands in the world, resulting in multimillion-dollar endorsement deals.

Some of her most notable endorsement deals include:

Athleta

Simone Biles made headlines in 2021 when she left her long-time sponsor, Nike, to sign a deal with Athleta, a women’s activewear brand owned by Gap Inc. This move was significant, as Athleta is a brand focused on inclusivity, women’s empowerment, and supporting athletes who prioritize mental health—values that align closely with Biles’ own. The deal reportedly includes co-branded product lines, with Biles taking an active role in designing and promoting the apparel. Although the financial terms of her contract with Athleta have not been disclosed, it is widely believed to be a multimillion-dollar deal.

By switching to Athleta, Biles also made a statement about how athletes, especially women, can partner with brands that align with their personal values. The collaboration has been mutually beneficial: Athleta gained a world-renowned athlete to promote their products, while Biles solidified her image as an advocate for women’s empowerment.

Visa

Biles has had a longstanding partnership with Visa, serving as a brand ambassador for the financial services company. Visa has historically supported athletes, particularly during the Olympic Games, and Biles has been prominently featured in its Olympic campaigns. Biles’ association with a global brand like Visa further underscores her marketability and appeal beyond just gymnastics.

United Airlines

United Airlines signed Simone Biles as an ambassador in 2021, making her a key part of its marketing efforts during the lead-up to the Tokyo Olympics. The airline’s partnership with Biles includes promoting her journey as a world-class athlete and her travels around the world for competitions. United also became the official airline of Team USA, cementing the brand’s relationship with elite athletes.

Uber Eats

Simone Biles teamed up with Uber Eats for a playful campaign alongside Queer Eye star Jonathan Van Ness. The ads, which featured Biles and Van Ness engaging in fun banter while enjoying Uber Eats, became widely popular and were part of Uber Eats’ larger strategy to tap into pop culture with relatable and influential personalities. The campaign is another example of Biles’ appeal across diverse audiences and industries.

Other Endorsements

Biles has endorsed other well-known brands throughout her career, including:

• Beats by Dre: As a music lover, Biles partnered with the iconic headphones brand.
• Hershey’s: Biles has been a brand ambassador for Hershey’s, further cementing her crossover appeal into mainstream consumer markets.
• Mattress Firm: In her role as an ambassador, Biles highlighted the importance of sleep for athletic recovery, making her a perfect fit for a mattress company.

The value of these endorsement deals is significant. Industry experts estimate that Simone Biles makes between $5 million and $10 million per year from endorsements alone. Her ability to maintain multiple high-profile partnerships speaks to her universal appeal and the power of her personal brand.

2. Prize Money: Earnings from Olympic and World Championships

While endorsement deals are the primary driver of Simone Biles’ wealth, her performance in gymnastics competitions has also earned her significant prize money. Olympic athletes are not paid by the International Olympic Committee (IOC) but receive monetary rewards from their respective countries for winning medals.

Olympic Prize Money

The U.S. Olympic and Paralympic Committee (USOPC) awards the following prize amounts to medalists:

• Gold Medal: $37,500
• Silver Medal: $22,500
• Bronze Medal: $15,000

Simone Biles has won a total of seven Olympic medals across the 2016 Rio Olympics and the 2020 Tokyo Olympics:

• Four gold medals (Rio 2016: Team All-Around, Vault, Floor, Individual All-Around)
• One silver medal (Tokyo 2020: Team All-Around)
• Two bronze medals (Rio 2016: Balance Beam, Tokyo 2020: Balance Beam)

In total, Biles has earned $165,000 in prize money from the U.S. Olympic Committee. While this amount is relatively small compared to her endorsement income, it is still a notable part of her financial success.

World Championships Prize Money

Simone Biles has also earned prize money from her performances at the World Gymnastics Championships. She holds the record for the most World Championship medals in gymnastics history, with 25 total medals (19 gold, 3 silver, and 3 bronze). The International Gymnastics Federation (FIG) awards prize money to medalists at the World Championships, with amounts ranging from $5,000 for gold medals, $3,000 for silver medals, and $1,500 for bronze medals.

Given her dominance at these competitions, Biles has likely earned over $100,000 in prize money from the World Championships alone.

3. Media Appearances, Speaking Engagements, and Book Deals

Beyond competitions and endorsements, Simone Biles has expanded her brand into the media world, making regular appearances on TV shows, participating in public speaking events, and even authoring a bestselling book.

Television and Media Appearances

Biles is a frequent guest on popular talk shows, such as The Ellen DeGeneres Show, Good Morning America, The Today Show, and The Tonight Show. These appearances, while not always compensated, help boost her public image and reinforce her status as a beloved figure in pop culture.

In 2017, Biles also appeared on the hit TV show Dancing with the Stars, where she showcased her charisma and versatility beyond gymnastics. She finished in fourth place, earning further acclaim and new fans.

Public Speaking

Simone Biles is a highly sought-after motivational speaker, particularly after her decision to prioritize mental health at the Tokyo Olympics. Her speeches often focus on overcoming adversity, the importance of mental health, and staying true to oneself. For high-profile athletes like Biles, speaking engagements can command fees ranging from $50,000 to $100,000 per event.

Autobiography

In 2016, Biles published her autobiography, Courage to Soar: A Body in Motion, A Life in Balance, which detailed her journey to becoming an Olympic champion. The book became a New York Times bestseller and inspired a Lifetime biopic. Book deals for athletes of Biles’ stature typically come with an advance between $250,000 and $500,000, along with royalties from book sales.

4. Simone Biles’ Athleta Line and Business Ventures

Simone Biles is not just an athlete—she’s a businesswoman. Her deal with Athleta not only involved traditional endorsements but also allowed her to co-create products with the brand, giving her a more active role in shaping her business ventures. Collaborating on products that resonate with her brand (empowerment, fitness, and inclusivity) creates the potential for long-term revenue streams beyond her athletic career.

Biles’ business savvy has led her to explore other ventures as well, and as she transitions out of competitive gymnastics, she is likely to follow the path of other high-profile athletes by launching her own businesses. Whether she enters the fitness, wellness, or apparel industries, Biles is well-positioned to expand her financial portfolio.

5. Social Media Influence and Monetization

With millions of followers across various social media platforms, Simone Biles has become a powerful digital influencer. As of 2024, she has over 6 million Instagram followers, 1.7 million Twitter followers, and a growing presence on platforms like TikTok.

Monetizing Sponsored Posts

Social media influencers with large followings can earn significant amounts of money through sponsored posts. Brands are willing to pay top dollar for access to Biles’ engaged audience. For influencers of her caliber, a single Instagram post can fetch anywhere from $50,000 to $100,000 or more, depending on the type of content and the brand partnership. Given her wide reach, Biles’ social media accounts represent a lucrative revenue stream that complements her other business ventures.

6. Post-Gymnastics Career: The Future for Simone Biles

Though Simone Biles is still an active competitor, there is much speculation about what her post-gymnastics career might look like. Many expect her to follow the path of other legendary athletes who have built successful businesses and media careers after retiring from competition.

Coaching and Gym Ownership

Biles may choose to stay involved in gymnastics by opening her own training facilities or gyms, following the example of other former Olympians. With her name recognition and expertise, Biles could attract aspiring gymnasts to her facilities, creating a steady income stream through coaching and memberships.

Mental Health Advocacy

Simone Biles made headlines at the 2020 Tokyo Olympics when she prioritized her mental health by withdrawing from several events. Her decision sparked important conversations about the pressure athletes face and the importance of mental wellness. Biles has since become a prominent advocate for mental health, opening doors for future collaborations with mental health organizations, public speaking events, and potential partnerships in the wellness industry.

Television and Media Roles

Given her charisma and public speaking skills, Biles is well-positioned to pursue a career in television. She could take on roles as a gymnastics commentator, a TV host, or even an analyst for major sports networks. Her popularity in pop culture also means she could appear in entertainment roles or produce her own media projects.

How Much Money Does Simone Biles Make?

Simone Biles’ net worth is estimated to be between $10 million and $16 million as of 2024, though this figure is likely to grow as she continues to expand her brand. Her wealth comes from a combination of endorsement deals, prize money, social media influence, public speaking, and business ventures. With her continued involvement in gymnastics, advocacy for mental health, and growing business acumen, Biles’ earning potential remains vast.

Conclusion: Simone Biles’ Financial Success Beyond Gymnastics

Simone Biles is not just a once-in-a-generation athlete—she’s a business mogul in the making. Her ability to transcend the world of gymnastics and build a powerful personal brand has allowed her to secure multimillion-dollar endorsement deals, earn significant prize money, and open doors to future ventures.

As Biles continues to build her empire, she is setting the stage for financial success that will last long after her competitive gymnastics career ends. Her advocacy for mental health, empowerment of women, and growing involvement in business make her not only an inspirational figure in sports but also a role model for financial success and entrepreneurship.