Simone Biles, a famous American gymnast with seven Olympic medals, surprised everyone when she decided not to compete in most events at the Tokyo Olympic Games in 2021. She won a bronze medal on the balance beam and a silver medal in the women’s team event but withdrew from five other events due to concerns about her physical and mental health.
In 2023, Simone made a strong comeback by participating in the U.S. Classic competition. She is now preparing to make a big return at the 2024 Paris Olympics. Let’s explore how she got into gymnastics, her wealth, and why she’s considered the richest in her sport.
Simone Biles Net Worth 2024
According to Celebrity Net Worth, Simone Biles is worth $16 million right now. This shows how successful and influential she is, not just in gymnastics but also in business and her brand.
How Did Simone Biles Begin Her Journey?
Simone Biles was born in 1997. She started doing gymnastics when she was 6 years old. One day, she went on a trip with her daycare to a gymnastics center. There, she saw other gymnasts and started copying them. The gym saw her talent and sent a letter to her family, asking her to join.
By the time she was 10 years old in 2007, Simone was already competing as a level 8 gymnast. That means she was good at gymnastics. She won many national competitions. In 2013, at the World Championships, she made history by becoming the first Black woman to win the all-around gold medal.
In 2014, when she was 17, Simone won again. People started calling her the best gymnast in the world. She was expected to do very well in the 2016 Olympics, and she did.
Simone’s childhood was tough. She and her siblings didn’t have much food to eat. She remembers feeling hungry and seeing a cat that her caregiver would feed, but not them. Simone and her siblings were placed in foster care when she was very young. Later, their grandparents adopted them.
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Simone Biles: Olympics
Simone Biles won an incredible five medals at the 2016 Rio Olympics—four gold and one bronze. Representing America in the Olympics is a big deal, and Simone didn’t do it for free.
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According to CNBC, U.S. Olympians earn money for their medals. In 2018, they got $37,500 for each gold medal, $22,500 for silver, and $15,000 for bronze. That’s a lot of cash! These amounts went up 50 percent from the 2016 Olympics. So, Simone likely earned between $82,500 and $100,000 for her wins in Rio.
If Simone keeps up her winning streak at the 2024 Paris Olympics, she could earn at least $165,000 more. That’s a nice payday for her amazing gymnastics skills!
