Growing up in a Black household, you likely heard the phrase “don’t jump on my furniture.” And as much as many people tried to adhere to the rule, for some, jumping was a natural passion and interest. That passionate sentiment could be said for Olympic Gold Medalist Simone Biles. With an early interest in the sport since the age of six, Biles, no doubt, took Kriss Kross’ lyrics to “Jump” literally.
The Olympic star began competing in competitions by capitalizing on her affinity for gymnastics. It earned her initial first-place prize on vault at the 2012 American Classic, landing her a spot to compete at the 2012 USA Gymnastics National Championships. Biles would be named to the U.S. Junior National Team that same year.
After mastering the aerodynamic sport, Biles would earn gold, silver, and bronze medals in the Olympics. She also has won various other world championships. While her sports career is impressive, Biles has leveraged her success as an athlete to make investments and critical business decisions.
According to a Forbes profile, Biles made $100,000 from her sports salary. However, her endorsements with brands like SK-II, Visa, Athleta, and Core Power are worth a combined $10 million. In addition to endorsements and advertisement deals, Simone Biles is the Chief Impact Officer for the online mental health company, Cerebral. These financial decisions helped round out her $16 million net worth, per Celebrity Net Worth.
Even with this financial success, people are curious about Biles’ rules for money management. In a 2019 episode of “Kneading Dough,” she revealed how she balances gymnastics with all of her money moves.
In the interview with Maverick Carter, Biles credits her agent Janey Miller as one of the trusted voices she leans on for business decisions.
“We always talk to her [Janey] – my parents and financial advisor – about all my business decisions,” Biles said in the interview.
While she trusts the voice of Miller, Biles noted that she is very picky about who she works with. She wants to make sure the financial decisions have personal meaning. And in that regard, Biles believes that working with a financial team to help her sort it out is her best business decision.