Simone Biles Net Worth 2022 (Forbes) – Salary, Income, Earnings

Simone Biles Net Worth

Simone Biles has an estimated net worth of $16 million. Simone Biles is the most decorated American gymnast, with more than two dozen Olympic and World Championship medals to her name. She earns most of her income from her career as an artistic gymnast and brand endorsements. 

Simone Biles established herself as a gymnastics prodigy at a young age. She won her first U.S. and world all-around titles in 2013, after dominating at the junior elite level. She won her third world all-around title in a row in 2015. She went on to lead the United States Olympic women’s gymnastics team, dubbed “The Final Five,” to victory at the 2016 Summer Games, winning gold in the individual all-around, vault, and floor exercise and bronze in the balance beam. Biles went on to win a record sixth US all-around title in 2019, as well as her 25th World Championship medal that fall.

To calculate the net worth of Simone Biles, subtract all her liabilities from her total assets. Investments, savings, cash deposits, and any equity she has in a house, car, or other similar asset are included in the total assets. All debts, such as personal loans and mortgages, are included in total liabilities.

Here’s the breakdown of her net worth:

Name: Simone Biles
Net Worth: $16 Million
Monthly Salary: $100 Thousand
Annual Income: $3 Million
Source of Wealth: Artistic Gymnast

Early Life

Biles, who was born on March 14, 1997, in Columbus, Ohio, has emerged as a champion in her sport. After their mother’s struggle with substance abuse, she and her sister, Adria, were raised by their grandfather Ron and grandmother Nellie.

Nellie has been a constant source of support for Biles throughout her rise in the world of competitive athletics; as the gymnast told CNN, “She encourages me and never lets me feel down about something for too long.”

Biles discovered her talents at a young age. According to the official USA Gymnastics website, she went on a field trip with her day care group to a gymnastics center, noting, “While there, I imitated the other gymnasts, and Coach Ronnie noticed.” The gym sent a letter home requesting that I join tumbling or gymnastics.” Biles was soon on her way to developing those natural talents.

Top U.S. Gymnast

Biles began competing as a level 8 gymnast in 2007, and by 2011, she had established herself as a junior elite gymnast. At the American Classic that year, she won the vault and balance beam events and finished third in the all-around. She then went on to win the vault and all-around events at the American Classic, the Alamo Classic, the Houston National Invitational, and the Secret U.S. Classic in 2012.

Biles quickly established herself as a force to be reckoned with at the senior elite level, capturing the all-around title at the 2013 U.S. P&G Championships. Also that year, she made history by becoming the first female African American athlete to win gold in the all-around at the World Championships. This impressive victory, she explained to The Hollywood Reporter, likely served as an example to other young gymnasts: “I think it inspires a lot of the little girls out there to go in the gym and train harder,” she said.

Biles built on her previous successes in 2014, winning both the U.S. and world all-around titles. That same year, she won gold in the vault, floor exercise, balance beam, and all-around at the Secret U.S. Classic. During her floor routines, Biles frequently performed her signature move, a double-flip with a half-twist.

Biles became the first woman to win her third consecutive world all-around title in 2015, giving her a total of ten gold medals in international competition. She then resumed training for Rio 2016 at World Champions Centre, which her family owns in Spring, Texas, where she is regarded as one of the country’s top Olympic hopefuls.

Biles wowed gymnastics fans in July 2016 when she won the all-around title as well as first place in the floor exercise and vault. She was named to the 2016 Olympic team alongside Laurie Hernandez, Aly Raisman, Gabby Douglas, and Madison Kocian.

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2016 Olympic Games

Biles led the United States women’s gymnastics team to gold on August 9, 2016. She received a vault score of 15.933, a balance beam score of 15.3, and a floor score of 15.8 for her signature move, “the Biles,” which consists of a double layout with a half twist. The dominant gymnast won alongside Raisman, Douglas, Hernandez, and Kocian, dubbed “The Final Five.”

“We’re the Final Five because this is [coach] Marta [Karolyi’s] last Olympics and none of this would have been possible without her,” Raisman explained on the Today Show. We wanted to do it for her because she is always there for us.”

She continued, saying: “This is the last Olympics with a five-woman team. The next Olympics will feature only a four-person team.”

Following team victories in 1996 and 2012, the Final Five became the third American women’s gymnastics team to win gold. Following the competition, Biles tweeted “dreams DO come true” and a photo of the US team on the medal podium.

Biles continued to dominate the Olympic competition, winning the gold medal in the women’s individual all-around.

Aly Raisman of the United States and Aliya Mustafina of Russia won silver and bronze, respectively.

What made Biles’ victory truly historic was her 2.1-point victory margin over Raisman, which was larger than any gymnast from 1980 to 2012. She was also the first woman in two decades to win back-to-back Olympic and world all-around titles.

She went on to win gold in the women’s individual vault competition with a score of 15.966, but fell short in the individual balance beam competition. Biles fought to keep her balance after a rare stumble, earning her the bronze medal with a score of 14.733. Sanne Wevers of the Netherlands won gold, while teammate Laurie Hernandez took silver. According to USA Today, Biles said, “the rest of the routine was still pretty good, so I can’t be too disappointed in myself.”

Biles continued her Olympic run by winning gold in the individual floor exercise with a brilliant performance that included her signature move. Biles won her fourth gold medal in Rio with a score of 15.966. Only Larisa Latynina of the Soviet Union in 1956, Vera Caslavska of Czechoslovakia in 1968, and Ecaterina Szabo of Romania in 1984 have won four gold medals in a single Olympic Games. In the floor exercise, Biles’ teammate Raisman won silver, and Amy Tinkler of Great Britain won bronze.

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Breaking Records at the U.S. Nationals, World Championships

Biles returned to intensive training and reclaimed her place at the top of her sport after taking much of 2017 off. In August 2018, she swept all four events at the United States Gymnastics Championships, winning by a whopping 6.55 points and becoming the first woman to win five national all-around titles.

The following year, Biles outdid herself by becoming the first gymnast to pull off a double-double dismount from the balance beam and the first woman to nail a triple-double in the floor exercise, reducing her sixth U.S. nationals title to a formality.

Biles then won her fifth individual all-around gold medal at the World Championships in October 2019, bringing her total World Championship medals to a record-breaking 25.

‘Dancing with the Stars’

Biles joined the 24th season of Dancing with the Stars in 2017, where she was paired with pro Sasha Farber. Despite her moves impressing the judges, the Olympic champion was eliminated during the semifinals in May.

#MeToo and Brother’s Arrest

Biles revealed on Twitter in January 2018 that she was one of many young women who had been molested by former USA Gymnastics team doctor Larry Nassar, who had recently been sentenced to 60 years in prison on child pornography charges and 25 to 40 years in prison on criminal sexual conduct charges.

“Please believe me when I say it was a lot harder to speak those words out loud at first than it is to put them on paper now,” she wrote. “For far too long, I’ve wondered, “Was I too naive?” Was I to blame?’ Those questions are now answered for me. No. No, I was not to blame. No, I will not and should not bear the blame for Larry Nassar, USAG, and others.”

The gymnast was shocked to learn in August 2019 that her brother, Tevin Biles-Thomas, had been arrested on triple homicide charges. “My heart aches for everyone involved, particularly the victims and their families,” Biles wrote on Twitter. “There is nothing I can say to ease anyone’s pain, but I would like to express my heartfelt condolences to everyone affected by this terrible tragedy.”

Yurchenko Double Pike

Biles made history on May 22, 2021, when she became the first woman to successfully land the Yurchenko double pike move in competition at the GK US Classic in Indianapolis, Indiana. The move is typically performed by male gymnasts and consists of a roundoff onto the springboard, a back handspring onto the vault, and a piked double backflip for the landing.

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2020 Olympic Games

Due to a medical condition, Biles was forced to withdraw from the women’s team gymnastics final at the 2020 Tokyo Olympics. Following Biles’ exit, Team USA was awarded a silver medal. She also missed the vault, uneven bars, and floor exercise finals, as well as the all-around, but she did compete in the balance beam final and took home a bronze medal.

Further Reading

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