Simone Biles, despite being the most decorated gymnast in history, earned a mere $9 million in 2023, placing her in ninth position on Sportico’s list of highest-paid athletes. While this amount is impressive, it doesn’t reflect the same level of earnings as athletes from other sports, such as tennis stars Coco Gauff and Iga Swiatek. Gauff earned between $5 million to $10 million in prize money alone, while Biles didn’t receive any prize money at all, highlighting the significant disparity in earnings between gymnastics and other sports.
In 2024, Simone’s remarkable performance at the Paris Olympics, where she won three gold medals and one silver, didn’t change her financial standing. Despite her dominance in the sport, she remained in ninth place on the Sportico list with an estimated $11 million in earnings, tied with WNBA star Caitlin Clark. The list was dominated by tennis players, with Gauff at the top earning $30 million, followed by skier Eileen Gu with $22.1 million, and several other tennis stars earning more than Biles. This situation has left many of her fans frustrated, feeling that Biles’ legendary status should have earned her a much higher ranking.
View this post on Instagram
The primary reason for the financial gap is that gymnastics offers very limited prize money. For comparison, the U.S. Olympic Committee awards $37,500 for a gold medal, while tennis players like Iga Swiatek earn millions from major tournaments like the French Open. In 2024, Biles earned only $135,000 in prize money from her Olympic performance, a stark contrast to the prize winnings of athletes in other sports. Fans have pointed out that this system doesn’t reflect the immense effort and skill Biles has put into gymnastics over the years.
To maintain her income, Biles has heavily relied on endorsements from major brands such as Athleta, Visa, Powerade, and MasterClass. These deals have kept her financially successful, but the lack of substantial prize money from gymnastics highlights the disparity in pay between different sports. Fans have expressed that if NIL (Name, Image, and Likeness) had existed when Biles was in college, she could have made far more money through endorsements, similar to college athletes like Olivia Dunne.
Despite the frustration over the pay structure, some progress is being made. The fact that Biles made it onto the list at all is seen as a significant achievement for gymnastics, a sport that has historically struggled with compensation. However, the situation still reflects the need for greater recognition and financial support for gymnasts, especially those who, like Biles, have dominated their sport for nearly a decade.