The underpayment of Olympic athletes has been a long-standing issue, despite their immense contributions and achievements. Recently, World Athletics took a step forward by announcing a $50,000 cash prize for gold medalists. While this decision is promising, it overlooks the majority of athletes who do not win gold and often have to fund their own participation. This issue is even more pronounced in gymnastics, a sport that has seen athletes struggle financially despite their extraordinary performances.
Simone Biles, widely regarded as the greatest gymnast of all time (GOAT), has been a pivotal figure in elevating US gymnastics to global prominence. However, her earnings starkly contrast with her achievements. Despite competing in three Olympics and securing seven gold medals for the United States, Biles’ income pales compared to top athletes in more popular sports.
Forbes’ Top 10 highest-paid athletes list exemplifies this disparity. Cristiano Ronaldo, the highest earner, made $260 million, with the 10th spot occupied by Lamar Jackson at $100.5 million. In stark contrast, Biles earned $11.1 million, as per Sportico’s Top 10 highest-paid female athletes list. This figure is 10 times less than the 10th-ranked athlete on Forbes’ list. Biles’ earnings placed her second to last among top-earning female athletes, just above basketball phenom Caitlin Clark, whose total income is only slightly less than Biles’.
Biles’ low earnings are particularly surprising given her monumental achievements. After her disappointing performance in Tokyo, she redeemed herself in Paris, securing three consecutive gold medals and one silver medal. However, the financial rewards for these accomplishments were modest. The United States Olympic and Paralympic Committee awarded $37,500 for each gold medal, $22,500 for silver, and $15,000 for bronze. This prize money contributed significantly to her total earnings of $11.1 million in 2024.
A closer look at the disparity reveals that Biles’ annual salary is only $135,000, just $35,000 more than Caitlin Clark, a teenage basketball sensation. In comparison, tennis star Coco Gauff earned a salary of $9.4 million, with total earnings of $30.4 million. These differences highlight the role of sport popularity in determining athletes’ incomes. Gymnastics, despite drawing 12.7 million viewers for Team USA’s final in Paris, struggles to generate substantial financial rewards for its athletes outside Olympic years.
Even more shocking is the revelation that Biles’ prize earnings were zero in the year prior to the Olympics. Most of her income came from endorsements, which funded her preparation for the US Olympic Trials. This reality astonished Australian gymnast Heath Thorpe, who expressed disbelief that an athlete as successful as Biles could earn nothing from prize money in non-Olympic years.
Despite her unmatched success, including countless medals and international accolades, Biles remains underpaid compared to athletes in other sports. This disparity underscores the broader issue of underpayment in less popular sports. Sports enthusiasts continue to hope for a day when athletes like Biles receive the financial recognition they deserve for their unparalleled contributions.