How Much Does Olympic Gymnast Simone Biles Earn for Her Gold Medals?
Ever since Simone Biles stepped onto the national gymnastics scene in 2013, it's obvious she's one of the most famous athletes to come out of the sport. Throughout the years of being in the spotlight, she's become a world phenomenon with eight Olympic medals (five gold, one silver and two bronze) and 30 World Championship titles under her belt.
After choosing to withdraw from the Tokyo Olympic Games in 2021 due to experiencing the "twisties," the gymnast proved herself with a comeback that scored international recognition. In 2024 alone, she is making moves by winning gold alongside her teammates in the women's gymnastics team event in the Paris Olympics. What's more, she'll showcase why she is the ultimate athlete with the women's all-around event on August 1.
Given how she's been so successful in her career, folks may be interested to know Simone Biles' net worth. Turns out it's pretty high, but her income doesn't come from winning medals. Keep reading to learn about Simone's endorsement deals and how much she's making from the 2024 Olympics.
How much does Simone Biles make in a year?
According to a report from Forbes, Simone made $7.1 million in 2023.
The outlet also revealed interesting insights about Simone's overall salary. Although her total earnings were very high, only $100,000 came from competing and winnings. The rest of her income came from various endorsements, which racked up to $7 million. As for what brands she partners with for endorsements, Simone has worked with MasterClass, Athleta, UberEats and others.
If that's the case, then we have one question about Simone's most important gymnastics titles...
How much does Simone Biles make competing in the 2024 Olympics?
While Simone is on the path for more Olympic glory in the women's all-around finals, Parade writes she won't make as much as many would think should she medal.
According to the publication, the gymnasts who compete and don't win any medals don't get paid for their contribution. Those who do walk away with a medal do earn a sum of money, but it isn't a lot. In the U.S., athletes make $15,000 for a bronze medal, $22,500 for silver and $37,500 for gold.
As for how much Simone has made for her Olympic medals, it depends on which summer games people focus on. When she competed in Rio in 2016, she made less than what most Olympians make today, totaling $110,000 with four gold medals (then $25,000 per piece) and $10,000 for her bronze. When she went to Tokyo in 2021, she earned $37,500 thanks to her silver (worth $22,500) and her bronze medals (valued at $15,000).
Overall, Simone has made $185,000 (including her most recent gold medal) throughout her time at the Olympics. Should she medal in the all-around final, the value will surely go up.
Is Simone Biles the richest gymnast in the world?
In December 2023, Forbes announced Simone was the 16th richest female athlete in the world. While there were other sports stars who edged her out for the top 15 spots, she still took the top spot when it came to gymnasts internationally.
The outlet also noted that Simone's rise in salary was likely due to her return to gymnastics. She became the first woman to complete a vault that's now known as the Biles II, along with setting a world championships record. She also filmed a Snapchat series called Daring Simone Biles, which earned a NAACP Image Award in February 2023.
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