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Simone Biles Net Worth 2022: How Wealthy Is the American Gymnast?

With a total of 32 medals to her credit, Simone is the greatest American gymnast of all time (both Olympic and World Championship medals). One of the gymnasts with the most awards in gymnastics history is Simone. Simone Biles is regarded by many as the best gymnast of all time.

During the 2016 Summer Olympics, she achieved some of her most illustrious feats. She participated in those competitions as a member of the “Final Five” American team. Simone earned individual gold medals on the floor, vault, and all-around at these competitions. She took home two gold medals for the US team in addition to bronze on the balancing beam.

Due to a COVID delay, the 2020 Summer Olympics in Tokyo were delayed to 2021, and Simone battled there, winning a bronze on the balance beam and silver with the team. After experiencing “the twisties,” which is when a gymnast momentarily loses awareness of their air balance, she withdrew to some extent from the competition.

Simone was undoubtedly the US athlete that received the most endorsements in the years leading up to the 2020 Olympics (both before and after the postponement). In the years leading up to the games and through contracts that extend into the future, she earned an estimated $20 million. This post will go into more detail later.

Early Years

On March 14, 1997, Simone Arianne Biles was born in Columbus, Ohio. Throughout her childhood, Simone and her three siblings were frequently in and out of foster care. Biles grew up in the Houston, Texas, suburbs at this time, where her grandmother began taking a more active role in her upbringing around 2000. Given that her mother is Belizean, Simone, who was raised in a Catholic environment, retained strong ties to Belize throughout her childhood. She continues to be a citizen of Belize.

Early on, it was obvious that Simone would pursue a career as a professional gymnast. After being removed from class, she spent the remainder of her secondary schooling being homeschooled. Simone was able to train over 33% more as a result, and she was able to compete at the top level in the Olympics before starting college.

Career

Biles started her gymnastics career very young; by the time she was 8 years old, she was working with Aimee Boorman as a coach. She participated in the American Classic in Houston at the age of 14. She came in third. She won the American Classic in Huntsville in 2012, taking first place. She was selected for the US Junior National Team that year. She competed in the City of Jesolo Trophy in 2013 after making her senior international debut in the American Cup, where she helped the American team win a gold medal.

Simone was invited to a private camp by Márta Károlyi after a bad showing at the 2013 US Classic, and the young gymnast also began training with a sports psychologist. Simone then received better performances, which led to her selection for the World Championships team. She achieved yet another first-place result at the 2013 Artistic Gymnastics Championships because of another flawless effort. The 16-year-old was already displaying extraordinary potential at this stage, outperforming far more seasoned international gymnasts.

Due to a shoulder injury, 2014 got off to a rough start, but Biles recovered with the US Classic in Chicago, taking first place by a significant margin. The United States won another victory and a gold medal thanks to her participation at the World Artistic Gymnastics Championships. She won the AT&T American Cup in Arlington, Texas, in 2015. She has been nominated for the James E. Sullivan Award thanks to this performance. The City of Jesolo Trophy, the US Classic, and the US National Championships brought about additional successes.

At the 2014 World Artistic Gymnastics Championships in Glasgow, Scotland, Biles and other well-known American gymnasts represented their country, and she won the event for the third time in a row. She had obtained a total of 14 medals from the World Championships by this time. In 2016, Biles continued to produce great performances, which made her selection to represent the United States in the Summer Olympics that year in Brazil probable.

In addition to helping the US team qualify for the 2016 Olympics in the first place, Simone qualified as the top gymnast overall in four of the five individual finals. She quickly took home her first Olympic gold medal in the team competition, and she then earned another gold in the individual all-around competition. For a total of four Olympic gold medals, she also won the bronze in the balance beam final and another gold in the women’s floor exercise final. Following a temporary break from competition, she resumed her gymnastics career in 2018 with improved routines.

Endorsements

Over the years, Simone Biles has added a variety of corporate endorsements to her gymnastics income. She made a memorable appearance in a Tide commercial with several other gymnasts prior to the 2016 Summer Olympics.

She committed to a lengthy, exclusive contract with Nike in 2015. In the same year, she also agreed to work with GK Elite Sportswear to create a collection of leotards for Simone Biles.

Simone and the other members of the “Final Five” team were featured on the front of a limited-edition Wheaties box in August 2016.

Leading before and during the 2020 games, Simone was the highest-paid Olympic athlete in terms of endorsements. From 2019 through 2021, she received at least $20 million in endorsement payments.

Simone made the iconic announcement that she had left Nike and signed with Athleta in April 2021, just three months before the 2020 Summer Olympics. The agreement included a promise from Athleta to plan a national demonstration for Simone following the Olympics, directly competing with one customarily put on by the U.S.A. Gymnastics. A range of activewear will also be created by Simone and Athleta.

According to reports, Simeone left Nike because she no longer believed that the business shared her ideals. She was particularly concerned about the history of scandals, employee grievances, and other difficulties that had beset the main sportswear firm in recent years, namely Nike.

Relationships

A fellow gymnast named Stacey Ervin Jr. and Biles started dating in 2017. In 2020, after three years of dating, the couple makes a mistake. In that same year, Simone declared her relationship with NFL player Jonathan Owens.

Nassar, Larry

Simone joined numerous other current and former Olympians in accusing Larry Nassar, the doctor for USA Gymnastics, of sexual assault in 2018. She, like many of her teammates, asserted that USA Gymnastics had a direct hand in enabling the abuse to go on for so long and that the group was also attempting to cover it up. She made the decision to skip Nassar’s 2018 trial because she wasn’t emotionally prepared to confront her abuser.

Houses and other Real estates

Biles revealed on social media in 2020 that she had bought a new house and shared a few images of it. Although images of her new home showed tile flooring and other decorations, there were few details published about it despite the fact that it was obviously large and opulent. Despite her well-known penchant for saving money, it appears that Simone was willing to make a wise investment in real estate. Biles made the decision to sell her childhood home in Houston, Texas, back in 2017. The house, which has a total square footage of 3,711 feet, debuted on the property market with a $289,000 price tag.

What is the net worth of Simone Biles?

American artistic gymnast Simone Biles has a fortune of $16 million.

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