Simone Biles: Why Isn’t She Earning Money from USA Gymnastics?

As the 2024 Paris Olympics approach, the world watches with bated breath to see if Simone Biles, one of the greatest gymnasts of all time, will bring home the gold. All the buzz around Biles, who withdrew from five event finals at the 2021 Tokyo Olympics suffering from the “twisties” (a mental block that causes gymnasts to lose track of their position while midair), has sparked curiosity about the financial aspects of Biles’ career, particularly why she isn’t earning money directly from USA Gymnastics. Photo Via Instagram @simonebiles Trials and Tribulations Biles secured the top spot at the 2024 Olympic Trials with a final score of 117.225. Biles’ leading score of 58.900 on June 26 guaranteed her a spot on the U.S. Olympic team. Despite her accomplishments, athletes like Biles do not get paid to participate in the sport on an amateur level. Athletes compete without salaries. However, winning medals does bring prize money. For instance, U.S. athletes can earn over $37,000 for a gold medal, but this is not guaranteed income. How Does Simone Biles Earn Money? Biles’ primary income source is sponsorships. With major sponsors, such as Coca-Cola, Gap, General Mills, Forbes reported. She also has side business...