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Simone Biles is arguably the world's best gymnast right now. With seven Olympic medals, she is the most decorated American gymnast of all time, on par with Shannon Miller. Last year, Biles shocked many by announcing her withdrawal from the women's gymnastics team final at the Tokyo Olympics.
Simone Biles bowed out of the finale citing mental health problems. The Olympian’s decision to quit the tournament definitely affected her career. However, it didn’t do much harm to her bank balance.
At only 25, Biles continues to be one of the biggest names in the sports world and it is reflected in the brand deals offered to her. The young gymnast continues to be one of the most marketable athletes despite being inactive for nearly a year.
Brands endorsed by Simone Biles
The Tokyo Olympics 2021 was a major point for Simone Biles. The young gymnast came to the competition as one of the most popular athletes. Biles was undoubtedly among the most marketed athletes in the event as well. The American reportedly earned over $5 million in endorsements in 2021.
Biles endorses a dozen brands, including both athletic and non-athletic companies. Athleta, the athletic clothing arm of Gap, continues to be Biles’ top brand. The Olympian, who was earlier backed by Nike, split with the longtime sponsor and signed with Athleta in April last year.
Apart from this, Biles endorses brands including Visa, United Airlines, Mondelez’s Oreo brand, Core Power fitness shakes, Candid teeth aligners, GK Elite Gymnastics apparel, and Spieth America gymnastics equipment, among others. Uber Eats and MasterClass are a few other brands associated with the gymnast.
According to Forbes, Simone Biles earns at least $5 million annually. Surprisingly, the athlete continues to earn as much despite her quitting the professional tournaments. A few reports even claimed that Biles’ popularity even rose after the gymnast announced her decision to withdraw from the Olympics.
While an annual income of $5 million is praiseworthy in itself, it's to be noted that this is not an official figure. Simone Biles, who enjoys over 6.5 million followers on Instagram, is bound to earn more from social media collaborations and other social events.
However, it is pertinent to note that Biles’ $5 million a year doesn’t come close to what the highest paid athlete in the world gets. Among Olympians, Jamaican sprinter Usain Bolt bagged a whopping $32.5 million in 2016, making him one of the highest-paid athletes in history.
Simone Biles’ net worth
The seven-time Olympic medal winner is also the youngest recipient of the Presidential Medal of Freedom. Simone Biles was awarded the prestigious award by President Joe Biden in July.
For now, it is no secret that Biles earns a hefty amount as income. The young gymnast has already established herself as a highly marketable athlete.
Biles, who endorses over 12 brands, holds a net worth of around $16 million. According to Celebrity Net Worth, Biles earns a large part of the sum from partnership with Athleta.
Moreover, the athlete has also earned a sum as prize money from winning various competitions. Biles also earns $37,500 per gold medal, and lower amounts for silver and bronze medals at the Olympics, as per CNBC.
