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The 2024 Olympics are in full swing in Paris, France, with athletes from all over the world competing for a coveted spot on the podium for either a gold, silver, or bronze medal. It’s created some seriously decorated athletes, some of which have turned into pretty high-profile celebrities, including people like Simone Biles and Michael Phelps.

This year, Biles is back — she previously dropped out of the Tokyo Olympics in 2021 to focus on herself and her mental health, but she’s ready to compete for another chance at winning a medal. She’s a household name these days, but does Simone Biles get paid for the Olympics?

Simone Biles with her teammates at the 2024 Paris Olympics
Simone Biles with her teammates at the 2024 Paris Olympics | Ezra Shaw/Getty Images

Simone Biles doesn’t actually get paid for her time as an Olympian

Although she’s one of the reasons so many people watch the Olympics, Biles won’t be bringing home a check for her time on the gymnastics floor. In fact, no athletes get paid for their time at the competition. While things are paid for, such as lodging and meals, the International Olympic Committee does not allow athletes to collect checks for their participation because it could harm the sport’s skill-only model and potentially change the way athletes are selected for teams.

Although Biles doesn’t get paid to appear, the event gives her massive notoriety as does winning medals. Since appearing at her first Olympics in Rio in 2016, Biles has raked in lucrative endorsement deals from brands like Athleta and Coca-Cola, among others; her endorsements reportedly add up to more than $7 million, according to Forbes.

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Athletes get paid if they win medals

Although ther is not a direct paycheck for appearing at the Olympics, countries do pay their athletes every time they win a gold, silver, or bronze medal. The US pays $37,500 for every gold medal that’s won, $22,500 for a silver medal, and $15,000 for a bronze medal. So while Biles won’t get paid to compete, she will get paid to win. To date, Biles has won seven medals: four gold, one silver, and two bronze, so she has brought in some money from the Olympics in that sense. 

Even they don’t provide a direct paycheck, the Olympics still gives athletes a chance to get their name out there; fans grow to love some of the athletes, leading to an increase in popularity. This ultimately leads to an increase in brand deals, which allows athletes to, in turn, get paid for being athletes. So, while it’s not a direct paycheck from the Olympics, it often leads to lucrative deals.

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