As one of the most successful gymnasts of all time, it comes as no surprise that Simone Biles has racked up millions of dollars.

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

And while she has achieved numerous feats as an athlete, 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.

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.

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.

Rags to riches: Simone was put in foster care after being abandoned by her alcoholic mother as a baby – but went on to become one of the most successful gymnasts in the world

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 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

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.

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 signed with the sports agency Octagon in 2015, and months later, she landed her first sponsorship deal with Nike.

That same year, she signed a deal with the sportswear brand GK Elite before she became a spokesperson for Core Power.

In 2016, she and her teammates were featured on a special edition of Kellogg’s cereal ahead of the Olympics.

Following her many wins at the event, Simone landed a slew of deals with a series of brands like Procter & Gamble, Hershey, United Airlines, Mattress Firm and Beats by Dr Dre.

In recent months, she has partnered with many more companies like Gap’s Athleta, Uber Eats, SK-II, Visa, Subway, and Wheaties cereal.

She also often posts ads for cybersecurity asset management company Axonius on her Instagram.

According to Forbes, Simone makes a whopping $5 million a year on her endorsement deals alone.

But sponsorships are not her only source of income. Over the years, Simone has also released her own set of gymnastics equipment with Spieth America, opened her own training center in Houston, called World Champions Centre, and most recently, she dropped a collection of leotards with GK, which are sold at Target.

The star also embarked on a cross-country tour around the US following the 2021 Olympics, which reportedly grossed $19.3 million.

In addition, she has dabbled in modeling, posing for magazines like People, Elle, Time and Porter recently, and co-founded an organization called Cerebral that offers online therapy and promotes positive mental health.

She also launched her own Snapchat reality series, called Daring Simone Biles, which contained 10 episodes that showed an inside look into her life as a famous athlete.

Big spender: Simone once admitted that she is terrified of ‘going broke,’ but that doesn’t stop her on living a lavish lifestyle – jetting all around the world, purchasing luxury cars, and buying multiple properties including a $2 million mansion

Having so much money at such a young age definitely comes with its difficulties, and Simone once admitted that she has a serious ‘fear of going broke’ one day.

She admitted in a 2019 interview that she’s constantly worried about spending too much, so she hired a financial consultant named Janey Miller to help her make ‘business decisions.’

Even so, she certainly enjoys a lavish lifestyle, which she often flaunts to her 6.6 million Instagram followers.

Her feed consists of snaps that show her jetting off on glamorous vacations, staying in five-star resorts, donning designer clothes, enjoying beach days in her bikini, attending elite parties, eating at fancy restaurants, and partying it up at the top nightclubs.

Arguably Simone’s biggest purchase was her sprawling mansion in Spring, Texas, which she reportedly bought for $750,000 in 2019.

She then spent a year renovating the home and it’s allegedly now worth a whopping $2 million.

The sports star has never given an official tour of her home, so it’s unclear how many bedrooms and bathrooms it has, but she has showed off the stunning abode numerous times on her social media account.

The kitchen has classic white cabinets, an enormous island with marble counters and large gray stools, top-notch appliances, and funky hanging chandeliers.

The spacious living room boasts sliding glass doors that allow natural light to flood the room.

She decorated the area with a plush gray couch and red accent pillows, as well as an eye-popping red art installation that is hung above her stone fireplace.

Her master bath features a deep tub, perfect for soaking aching muscles. She also has a walk-in closet with built-in shelves and a large shoe rack.

In addition, Simone revealed last year that she and her fiancé had purchased a plot of land together, where they are planning to build their dream home together.

‘I know this looks like nothing but I’m so proud,’ she wrote in January 2022, while showing off the spot of her and Jonathan’s future house. ‘Here’s my lot – my soon-to-be home.’

It’s unclear whether Simone plans on selling her other home once the new one is built – but based on Instagram pictures of it that she shared this week, construction has yet to even begin, so it’s likely that it won’t be finished for a while.

In addition to her numerous properties, Simone also owns a slew of fancy cars – including a Range Rover (which start from about $100,000), an Evoque convertible (which start from about $46,000), and a Mercedes G-Wagon (which start from about $140,000).

She also has two French Bulldogs, named Lilo and Rambo, and she loves to dress them up in luxury clothing and accessories.