As the most formidable gymnast in history, Simone Biles has effortlessly outshined every woman or man in the gymnastic realm. But her 35 medals across Worlds and Olympics aren’t limited to metal pieces only. The moolah which she rakes in with each medal is a thing to consider too. After a two-year hiatus, when the 26-year-old made a comeback at the 2023 US National Championships, it was difficult to register how powerful her displays were. But now, as the Olympic year rolled in, it’s time for clearing the air. But the question does arise. How affluent is she in the grand scheme of things?
Currently standing with 27 World Championship medals including 21 golds, this year was path-breaking in Biles’ life. Not only that, she had showered herself with lucrative brand deals to diversify her portfolio and become the business acumen queen. But the one question that remains, how much money does Simone Biles make from gymnastics?
Simone Biles’ lucre and prospects
Ceremoniously enough, Biles has emerged as the most decorated woman athlete. But 2023 was especially noteworthy since she made it to the Forbes’ Highest-paid female athletes’ list. And according to that, she’s the owner of $10million, as per December 2022. And according to 2023’s Forbes list, she stands with $7.1million, the major of which has been bagged from endorsements. Biles rescinded herself on grounds of depression in 2020. Biles walked out of the Tokyo Olympics with ennui. But the Olympian doesn’t earn as much money as you think via gymnastics. To break it down, per Forbes, $37,500 for each gold medal, $22,500 for each silver medal, $15,000 for each bronze medal, according to 2022’s report.
Moving on, as per 2016 Rio Olympics, each gold medal held $25,000, each silver medal $15,000 and each bronze $10,000. The 26-year-old had walked home with a cumulative $147,500 from her Olympic winnings. But the 4x Olympic gold medalist credits a great deal of her career success to her brand partners.
Brand endorsements of Biles
Some brands Simone Biles has dabbled in are Athleta, Beats by Dre, Core Power Fitness Shakes, GK Elite, Candid Dental, Uber Eats, United Airlines, Visa, Hershey’s, Kellogg’s, MasterClass, Mattress Firm, and SK-II. Some days before the 2020 Summer Olympics, she terminated her ties with the behemoth Nike. Moreover, the Olympian concocts several sponsored content and advertises her brands across her social platforms.
Starting from featuring in Kellog’s Wheaties’ cereal box to Core Power’s commercial video, the 26-year-old has been firing on all cylinders. But one thing needs special mention, her comradeship with GK Elite and Athleta has benefitted the athlete and the brands alike. This is the Olympic year again, and Simone Biles is an expectant like no other. Can she reach the 40th medal mark this time?
