How much does Simone Biles make in endorsements?

Simone Biles is one of the most popular athletes in the world. Anyone who didn't know her prior to the Tokyo Olympics had undoubtedly heard her name when she made the decision to step away from competing for mental health issues.

With that fame often comes fortune. She's just 25-years-old but is one of the most successful gymnasts in American history. She's already tied for the most Olympic gymnastics medals in United States history.

As a result, Biles has a fairly staggering net worth. She's already worth $16 million, much more than some of her counterparts.

The legendary gymnast has several endorsements at this point in her career. According to Yahoo! Sports, she makes a lot of her money purely from those endorsements and stacks up well against the competition.

According to Forbes, Simone makes at least $5 million annually in endorsements. That sum puts her ahead of plenty of other famous athletes, such as swimmer Katie Ledecky, who makes $3 million, and former basketball player Sue Bird, who rakes in $1 million in annual endorsements.

Most popular athletes don't make all their money from performing on the field, track, mat or wherever they play. Some of them make up quite a bit from endorsements, perhaps even more than they do from the sports they play.

The gymnast has quite a few premier brands under her endorsement belt:

• Athleta
• SK-II skin care
• Visa
• United Airlines
• Mondelez’s Oreo brand
• Core Power fitness shakes
• Candid teeth aligners
• GK Elite gymnastics apparel
• Spieth America gymnastics equipment
• Uber Eats
• MasterClass
• Facebook Watch

Biles doesn't have the financial stability that other Olympic athletes like, say Usain Bolt, might have had, but she does extremely well and the future is bright.

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How Simone Biles makes so much from endorsements

Biles also does a lot of advertising on social media. Given the sheer popularity of her accounts (nearly seven million followers on Instagram), she does sponsored content a lot.

Much of that comes from being a successful athlete. Sports generally pay pretty well, and gymnasts tend to make solid money. Winning increases that, especially at the highest level.

Gymnastics - Artistic - Olympics: Day 11

Olympic medalists make pretty good money off of their wins, but it doesn't quite add up to the $16 million that she is worth. The Olympic prize money is as follows:

• $37,500 for each gold medal
• $22,500 for each silver medal
• $15,000 for each bronze medal

Her net worth grew $6 million across the last year, so clearly she's doing something right. She didn't compete a lot and didn't do much at the most recent Olympics last year, so she's clearly bringing in a lot purely from endorsements.

She wouldn't get those endorsements without being the top-flight athlete she is, though. While endorsements have the ability to make more money and change the life of an athlete, they have to be that athlete before even getting the endorsements.

When one comes, the other usually does, too, so aspiring athletes who want to get endorsements like Biles should hone their craft just like she did. Eventually, brands will want to get involved.