It’s been reported that the sports star earned roughly $172,500 from her wins at the Olympics, and while that may seem like a lot at first glance – it’s only a small fraction of her massive fortune.

At just age 25, Simone Biles – who has earned seven Olympic medals and won 25 World Championships over the years – has amassed a whopping net worth of $16 million

Most of Simone’s earnings have shockingly not come from her impressive gymnastics career, but instead, from the many lucrative sponsorship deals she has landed along the way

While Simone once admitted that her biggest fear is ‘going broke,’ she has certainly enjoyed a lavish lifestyle since becoming a millionaire – which she usually flaunts online

The 25-year-old’s career has stretched far beyond just gymnastics, and much of Simone’s earnings have poured in from her numerous brand endorsements.

She has partnered with companies like Nike, Gap, Uber Eats, Subway, Hershey and Visa over the years, just to name a few.

She has also launched her own line of leotards, released a set of gymnastics equipment, starred in a Snapchat reality series, dabbled in modeling, and embarked on a tour around the US following her stint at the 2020 Olympics that grossed $19.3 million.

While Simone once admitted that her biggest fear is ‘going broke,’ she has certainly enjoyed a lavish lifestyle since becoming a millionaire – which she usually flaunts online to her millions of Instagram followers.

She often embarks on glamorous getaways to places like Belize and Turks and Caicos – via private jet, of course – eats in fancy restaurants, attends elite parties, and dons designer clothing.

She has also slowly accumulated a nice collection of luxury cars and lives in a sprawling $2 million mansion in Houston, Texas. In addition, the Olympian recently expanded her real estate portfolio by purchasing another plot of land, where she and her fiancé, Jonathan Owens, are building their dream home together.

Simone may have a opulent life now, but she had to overcome a lot to get here. She didn’t have the easiest childhood, and was put in foster care at a young age after she was abandoned by her alcoholic mother.

She was then adopted by her maternal grandparents at age five, and was introduced to gymnastics one year later on a school trip to a local gym, and the rest is history.

As Simone’s career continues to flourish, FEMAIL has broken down her mega fortune and revealed how exactly she became a multimillionaire.

From her massive success as an athlete and jetsetter lifestyle to her brand deals and other endeavors, here’s everything you need to know about Simone’s $16 million net worth.

Simone was born on March 14, 1997, in Ohio, to a single mother named Shanon Biles, who struggled with drugs and alcohol addiction. She is seen as a baby with her mom and siblings

The future star (seen as a baby with her siblings), along with her three siblings, were put in foster care at a young age after her mom realized she couldn’t care for them anymore

Simone’s maternal grandparents, an Air Force veteran named Ron (seen with Simone, right, and her siblings) and his wife, a nurse named Nellie, ended up adopting them

Simone may be one of the most successful athletes on the globe, but she had to overcome a difficult childhood to get where she is now.

The gymnast was born on March 14, 1997, in Columbus, Ohio, to a single mother named Shanon Biles, who struggled with drugs and alcohol addiction.

The future star, along with her three siblings, were put in foster care at a young age, after her mom realized she couldn’t care for them anymore.

‘I was really fortunate because I got to stay with my siblings – most siblings get separated,’ Simone told USA Today of her time in foster care.

‘We had a good experience in foster care. So I can’t knock that.’

Simone’s maternal grandparents, an Air Force veteran named Ron and his wife, a nurse named Nellie, ended up adopting Simone and her sister, Adria, when she was five. Her other two siblings were taken in by Ron’s brother.

The family grew up in Houston, Texas, together, where, despite the rocky start, the gymnast had a happy upbringing.

‘I was very, very blessed and fortunate. I felt love, care. I was healthy. I was safe,’ she said.

‘I’m just very grateful for the opportunity and to be adopted by family and have a good head on my shoulders, but also have that guidance. And for them to take such a leap of faith.’

Simone (seen with her adopted parents) told USA Today that she had no interest in finding out who her biological father was or reconnecting with her mother

‘The cards that I was dealt, I just never felt a need to go back, which is very different for a lot of [adopted] kids, because they feel kind of that void. But I never did,’ she said

Simone told the outlet that she had no interesting in finding out who her biological father was or reconnecting with her mother.

‘I’ve been so fortunate with everything that God has given me and all the tools of life. So I never really cared to find out who my biological father was, or really gain a close relationship with my biological mom, which I’m sure she probably wanted,’ she added.

‘But the cards that I was dealt, I just never felt a need to go back, which is very different for a lot of [adopted] kids, because they feel kind of that void. But I never did.’

And Simone is certainly not ashamed of her past. In fact, she hopes that she can be a ‘voice’ for other foster kids.

‘I know exactly how it is, and I know exactly how you feel being a foster kid,’ she explained.

‘I can be a voice for them. I can help them, and I can tell them that they’re not alone and that it’s going to be OK, that you can also still be great in the world. Being in foster care isn’t going to be your only title.’

 

It doesn’t pay as well as you’d think: Simone went on to win seven Olympic medals and 25 World Championships, but her gymnastics earnings only account for a small fraction of her massive wealth

Simone started gymnastics at age six, and by the time she was 16, she was competing in the USA Gymnastics National Championships. She is seen at the 2015 Gymnastics Championships

She has now earned seven Olympic medals and 25 World Championship medals – and making her the most decorated gymnast in history. She is seen at the 2016 Olympics

But surprisingly, most of her earnings did not come from her career as an athlete. Simone is pictured at the 2020 Olympics in Tokyo

The Olympian got involved with gymnastics at age six after falling in love with the sport during a school field trip to a local gym.

It’s been reported that she earned $135,000 for her wins at the 2016 Olympics, and another $37,500 for her success at the 2021 Olympics – which may sound like a lot, but it’s only a small fraction of her massive net worth

She soon started training at Bannon’s Gymnastix in Spring, Texas, and began her elite career at age 14, when she competed at the 2011 American Classic, where she came in third.

By the time she was 16, she was competing in the USA Gymnastics National Championships, where she was crowned as the national all-around champion, and in 2016, she headed to the Olympics for the first time.

Simone has had an impressive gymnastics career – earning seven Olympic medals and 25 World Championship medals – and making her the most decorated gymnast in history.

But surprisingly, most of her earnings did not come from her career as an athlete.

It’s been reported that she earned $135,000 for her wins at the 2016 Olympics, and another $37,500 for her success at the 2020 Olympics – but it’s only a small fraction of her massive net worth.

 

Raking it in: Simone makes $5 million a year from endorsement and sponsorship deals – and she’s launched her own leotard line, opened her own training center, and released a Snapchat reality show

Most of Simone’s massive fortune has come from her many brand endorsements. She is seen posing for a Subway ad last year

Simone has partnered with companies like Procter & Gamble, Hershey, United Airlines, Mattress Firm, Uber Eats, SK-II, Visa, Subway, Beats by Dr Dre, and Gap’s Athleta (seen)

According to Forbes, Simone makes a whopping $5 million a year on her endorsement deals alone. She is pictured in a promotional post for Gap’s Athleta