Simone Biles: With the Olympics coming up soon and American gymnast Simone Biles performing what might be the toughest move in gymnastics, it’s clear that she’s a standout star with even more to offer. She was recently featured in a Netflix documentary called “Simone Biles Rising.”
Okay, so what is the net worth of Simone Biles?
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Simone Biles is a tremendously successful woman, as seen by her thirty World Championship medals, four gold medals, and seven Olympic medals. Therefore, it’s interesting to note that, similar to most Olympic competitors, the vast majority of her projected $20 million net worth comes from endorsements rather than an actual income.
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Sponsors have come from a wide range of industries, including Powerade, the dog food company Nulo, the online education platform MasterClass, the cybersecurity startup Axonius, the gymnastics apparel company GK Elite (where she has her line of leotards), and the cereal brand Wheaties.
Simone Biles has even more sponsors, such as Uber Eats, Beats by Dre, Core Power, Hershey’s, Mattress Firm, United Airlines, Visa, and Subway, listed on her official website, showing that her endorsements are extensive. Given these big brands, it’s likely she’s done well financially. Forbes estimated in 2021 that she earned at least $5 million annually from sponsorships. Since then, her income has likely increased, especially considering she made $10 million in 2022 alone.
You may be curious about how much money the Olympics made. Successful athletes can make a lot of money, but in the US, the prize money for Olympic titles isn’t very much. Bronze medals are worth $15,000, silver medals are worth $22,500, and gold medals are worth $37,500.
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This is pretty low, especially since the US government doesn’t give money to the US Olympic and Paralympic Committee or its top sports programs. Simone Biles has made about $147,500 from her Olympic medals so far, but that amount is expected to change after the Games in Paris this summer.
