Home » Simone Biles shines as world’s greatest gymnast, banking $7.1 million in 2023

Simone Biles shines as world’s greatest gymnast, banking $7.1 million in 2023

Biles breaks records on and off the mat, accumulating $7.1 million in past 12 months

by Omokolade Ajayi
Simone Biles

Simone Biles, the legendary U.S. artistic gymnast widely hailed as the greatest gymnast of all time, has secured the 16th spot on Forbes’ list of the world’s highest-paid female athletes in 2023.

The 26-year-old gymnast has not only etched her name in sports history as the most decorated gymnast but has also amassed an astounding $7.1 million in earnings over the past 12 months, solidifying her status among the world’s highest-paid individuals.

With a remarkable comeback in 2023, Biles clinched the 16th spot in Forbes’ list of the world’s highest-paid female athletes, marking her as the first gymnast to achieve such a financial feat in over a decade.

Biles breaks records on and off the mat, accumulating $7.1 million in past 12 months

Biles in recent times etched her name in history by becoming the first woman to execute the challenging Yurchenko Double Pike Vault at the World Artistic Gymnastics Championships in Belgium. This undoubtedly contributed to her significant on-field earnings, totaling $0.1 million in the past 12 months.

However, the bulk of Biles’ staggering $7.1 million in earnings is attributed to her off-field ventures. Endorsements, licensing deals, appearances, and memorabilia, combined with returns from businesses where she holds a significant stake, accounted for an impressive $7 million.

At the world championships in Belgium, Biles, won gold in the all-around competition, making her the most decorated gymnast, male or female. Biles surpassed Vitaly Scherbo and Larisa Latynina and now has 34 medals at the world championships and Olympics.

Notably, Biles’ financial success goes beyond the realm of sports, placing her among the world’s wealthiest Black individuals. Unofficial estimates of her net worth at $30 million underscore her standing among America’s wealthiest.

Biles’ legacy: A year of unprecedented success in gymnastics, business, and beyond

Biles’ financial portfolio is diversified, with lucrative partnerships with renowned brands such as Athleta, SK-II, Visa, and Uber Eats. These endorsements, coupled with her extraordinary gymnastic achievements, have propelled her to unparalleled financial heights.

The 26-year-old gymnast has also found success outside the sports industry. Her Snapchat series, “Daring Simone Biles,” not only showcased her talents but also secured an NAACP Image Award in February — cementing her position as a multifaceted and accomplished individual.

As the year 2023 draws to a close, Biles stands as a sporting legend, breaking barriers and redefining success both on and off the gymnastics mat.

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