Simone Biles is taking the Olympics by storm once again, this time in Paris, France.
Gymnastics events kicked off on July 28th, and it’s already clear that after her withdrawal at the 2020 Olympics, Simone Biles is making the comeback that everyone is rooting for.
Not that she has anything to prove — according to the official Olympic website, Biles has seven Olympic medals (including four gold, one silver, and two bronze), 30 World Championship medals (including 23 gold, four silver, and three bronze), and a Presidential Medal of Freedom.
Hardware isn’t the only thing that she earns when she wins yet another title. A nice paycheck comes with each accolade as well.
According to CNBC, the United States Olympics and Paralympics Committee gives gold medalists $37,500 per first-place win, silver medalists $22,500, and bronze medalists $15,000. The amount awarded per medal has changed over the course of Biles’s three Olympics, but she has still been awarded more than $100,000 for her Olympic efforts.
Other than a few stipends here and there, according to Synergy Gymnastics, gymnasts like Simone Biles don’t make most of their money from their actual gymnastics wins. Instead, the majority of her net worth likely comes from endorsements, partnerships, and social media.
Biles has appeared in commercials with Uber Eats, Powerade, Nike, and Tide. According to Forbes, thanks to endorsements like these, Biles is the sixteenth highest-paid female athlete in the world. Per their calculations, as of 2023, she earns around $100,000 from her career wins, and $7 million from sponsorships and endorsements.
Per Biles’s official website, her current sponsors include Spieth America, Wheaties, Athleta (which she switched to from Nike), Powerade, Nulo, Masterclass, Axonius, GK, and Friends of the Children.
She frequently posts sponsored content in partnership with these brands and others on her Instagram, which has accrued over eight million followers. Instagram creators of her caliber typically receive thousands of dollars per post.
She even released a Netflix series called Simone Biles: Rising in July of 2024, which may net her a paycheck as well.
According to Celebrity Net Worth, Simone Biles’ hard work and many streams of income have led to a net worth of $20 million. Per her social media, it seems she likes to spend her money on travel, time with her husband and dogs, and building her new home.
Based on her high earnings and even higher scores, she isn’t called the Greatest of All Time for nothing.
Published: Jul 29, 2024 12:20 pm