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Simone Biles Net Worth & Simone Biles Charity Work [2024]

Apart from being a gymnast, Biles champions the cause of helping foster kids pursue their dreams. The mark of a true champion. Read on to know how she’s making a difference with her net worth.
Simone Biles
Simone Biles Net Worth & Simone Biles Charity Work [2024]
US gymnast Simone Biles' exit from the Olympics took the world by storm, especially when she drew attention to her mental health. The brave Biles, of course, has more to offer than her gymnastic prowess as she sprends the rest of her time helping foster kids.
In this article

Simone Biles is one of the most accomplished American gymnasts of our time with a net worth of $16 million. She has a total of 30 medals to her name from both the Olympics and World Championship. She recently confessed that the pressure of living up to expectations took a toll on her mental health. Well, that was brave!

Simone Biles Net Worth [2024]

Net worth$16 Million
Date of birthMarch 14, 1997
GenderFemale
Height4 feet 8 inches
ProfessionArtistic gymnast
NationalityUSA

The 24-year old also believes that mental health is a big issue and it was a matter that she had been working on for some time. Did you know Biles partners with Mattress Firm Foster Kids and donates items like clothes and school supplies to foster parents and kids. Here’s how Simone Biles uses her net worth for good.

simone biles charity work

Charity/OrganizationBiles’ InvolvementCause
Friends of the ChildrenNational Spokesperson, Advocate, $50,000 donation (known)Supporting and mentoring children in foster care
BB&T’s Lighthouse ProjectAmbassadorHelping homeless families and children find stability
Various Local Charities (Houston)Donations (amounts often undisclosed), community appearancesDiverse causes in her hometown, including food insecurity and childhood education

Champion of medals and hearts

Apart from being a gymnast champion, Biles champions the cause of helping foster kids pursue their dreams. The bubbly Olympic gold medalist was born to a mother addicted to drugs and alcohol. She was placed in foster care at age 3 before she was adopted by her maternal grandparents.

“I was so young, I didn’t quite understand what was going on,” says Biles. She recalls kids coming to the foster home with nothing but clothes in their backpacks.

Memories like these are what prompted Biles to partner with Mattress Firm Foster Kids. She regularly contributes to the donation-driven program and has given more than 610,000 items like clothes and school supplies to foster parents and kids. 

Humble beginnings for Simone Biles net worth

Simone Biles began her gymnastics at the age of 8. By age 14, she was competing in the American Classic in Houston. By 2012, she was placed first at the American Classic in Huntsville, she was even named to the US Junior National Team that year. In 2013, she had made her senior international debut and helped the US team win a gold medal. Three years later Simone helped the US team qualify in first place at the 2016 Olympics.

She also qualified as the top overall gymnast in the individual finals and won her first Olympic gold medal at the team event followed by a gold medal in the individual category. She also claimed bronze at the balance beam final and yet another gold in the women’s floor exercise final. That same year she won four Olympic gold medals. 

How Simone Biles earned her net worth

Biles has a net worth of $16 million. Like most athletes, Biles has reaped heavy financial rewards. Biles’ overall fortune at $16 million, is a sizable sum for any 24-year-old gymnast.

As expected, success in the Olympics is followed by serious financial perks. The gymnast’s success and her bubbly personality helped her score plenty of big-name endorsement deals. She is said to be the next marketing GOAT, as well. 

What Simone Biles endorses

Biles earns her income with a range of brand endorsements over the years. Before the 2016 Olympics, she appeared in a Tide commercial alongside several other gymnasts.

What Simone Biles calls home

In 2020, Biles announced that she purchased a new home. Despite her famous frugality, Biles splurged a little on real estate – a “smart investment” she calls it. In 2017, Biles sold her childhood home in Houston, Texas. The 3,711 square feet residence hit the housing market with a price tag of $289,000. 

Related Net Worths of Celebrity

Drake’s Net Worth

Elon Musk’s Net Worth 

Bill Gates’s Net Worth

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Shirlene Grace Isaac

Shirlene puts words on the Internet because she loves to do so and also for the money! She is a singer, songwriter, occasional poet, artist and muser — all in the body of a 20 something. She's a taleteller of sorts often looking for opportunities to narrate stories untold.

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This page is purely informational. Beem does not provide financial, legal or accounting advice. This article has been prepared for informational purposes only. It is not intended to provide financial, legal or accounting advice and should not be relied on for the same. Please consult your own financial, legal and accounting advisors before engaging in any transactions.

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