Chris Pizzello / Invision / AP / Shutterstock
Even if you’re not a huge gymnastics fanatic, chances are you’ve heard about Olympic athlete Simone Biles, dubbed by many sources as the greatest athlete of all time. No wonder if you look at her previous Olympic career, which includes four golds and one bronze. In addition, her World Cup career includes 25 medals – 19 gold, three silver and three bronze according to The Atlantic. Biles retired from the Tokyo 2020 Olympic Games women’s teams final due to a medical problem after problems arose while jumping. She also withdrew from the individual all-around competition. On July 29th, their status for the event finale will be determined.
See: Most successful athlete of every decade
Find out: The richest athletes in the world
The 24-year-old is the first woman in history to attempt the incredibly tough and dangerous jump of the Yurchenko pike, which she recently achieved in a competition in Indianapolis. Biles’ talent is so extraordinary that they named four of their moves after her. She was ready to make Olympic history again before retiring from a few events. If she set the record for most Olympic medals won by a US gymnast and the record for most gold medals by a US, she should become “the most decorated American gymnast in Olympic history,” according to NBC Sports -Turner. Shannon Miller has the most medals with seven and Anton Heida has the most gold medals with five. Biles currently holds four gold medals and a total of six after winning a silver medal in 2021.
In the spotlight: celebrities who aren’t as rich as you think they are
A difficult start
Despite being at the top of her game now, Biles’ early years were a bit rough. She and her three siblings were in and out of the foster family due to their mother’s struggle with substance abuse until she and Sister Adria were officially adopted by her grandmother Nellie and grandfather Ron, whom she considers her parents. These loving guardians nourished her for the success she claims today. So Biles has fame, she has success, how do you turn all that talent into wealth?
The story goes on
Cashbox: LeBron James and more of the richest athletes under 40
Simone Biles net worth: $ 6 million
Yes, winning gold medals really pays off. At the 2016 Olympics, gold medalists took home $ 25,000 in cash, silver $ 15,000, and $ 10,000 for bronze, according to Yahoo Finance. At those Olympics, Biles took home four gold medals and one bronze medal, earning her at least $ 110,000 for that one competition alone. While not all medals come with such large payouts, their efforts have definitely paid off since then. Celebrity Net Worth estimates their net worth at $ 6 million and that is definitely going to increase.
See: Injuries cost these 13 athletes a fortune
Discover: Professional Athletes Who Have Lost Millions of Dollars
Like many athletes, Simone Biles earns a significant portion of her income from brand recommendations. Companies looking for their award-winning calling are Hershey’s, Nike, and Kellogg’s to name a few, according to Yahoo Finance. She recently signed a deal with athleisure company Athleta, leaving Nike, which, according to The New York Times, has lost several high-profile female athletes to its poor maternity leave regime. Athleta will sponsor their “Gold Over America” tour. Biles told the Wall Street Journal, “I think they are [Athleta] I stand for everything I stand for. ”With Athleta, she will not only develop her own line of activewear, but also attract the attention of USA Gymnastics, the organization that was shaken by revelations about the national team doctor, by sponsoring her tour Larry Nassar has been accused of sexual abuse over the years to young gymnasts, including Biles. If she wins big at the Tokyo 2020 Olympics, those endorsements and paychecks could get even bigger.
A frugal mindset
Despite making millions of dollars, Biles maintains a thrifty mind, partly driven by concerns about her humble ancestry. She admitted in a 2018 interview with CNBC, “I’m scared of going broke.” She challenges herself not to spend any money at all on some days unless she absolutely has to and says she’ll only splurge “when I deserve it”.
Read: The 22 Best-Selling Movies Starring Athletes
Biles has years to go to invest in real estate, but she bought a new home in 2020, according to Celebrity Net Worth. She announced it on social media and showed some pictures of herself posing against the outside, revealing a large pool and possibly spacious space, but much more is not known. Biles sold her childhood home in Houston for $ 289,000 in 2017.
Since August 2020, Simone has been dating Jonathan Owens, an NFL safe with the Houston Texans. He revealed that he had no idea who she really was in terms of her gymnastics fame when they started dating, but admired her work ethic. In the meantime it has become clear to him that he is with the “GOAT” (the greatest of all time).
More from GOBankingRates
Last updated: July 29, 2021
This article originally appeared on GOBankingRates.com: How much is US Olympic Champion Simone Biles worth if her Event Finals status remains unknown?