Steve Penny Net Worth (Updated 2026).

Steve Penny, born and raised in the United States, began his professional journey in the realm of gymnastics at a young age. He started as a gymnast himself, honing his skills and passion for the sport. His talent and dedication eventually led him to become a coach, where he discovered his knack for nurturing and guiding young athletes. It was during this time that he first gained recognition, coaching several successful gymnasts and teams to regional and national titles.

Penny’s reputation as a skilled coach caught the attention of USA Gymnastics, the sport’s national governing body in the United States. In 1999, he was offered the position of president, a role he accepted with enthusiasm. In this capacity, he worked tirelessly to promote the sport, improve safety standards, and increase its visibility and popularity. His efforts paid off, as gymnastics experienced a surge in popularity and participation during his tenure. It was also under his leadership that the U.S. women’s gymnastics team, the “Final Five,” won the gold medal at the 2016 Rio de Janeiro Olympics, solidifying his place in gymnastics history and catapulting him to fame.

Steve Penny’s Current Net Worth (2025)

As of 2025, Steve Penny’s current net worth is estimated to be around $100 million, according to the latest available information from Forbes.

Career

Steve Penny is a prominent figure in the gymnastics world, serving as the president of USA Gymnastics from 2005 to 2017. He was instrumental in the organization’s success, including the “Magnificent Seven” winning the team all-around gold medal at the 2008 Beijing Olympics and the “Final Five” repeating the feat at the 2016 Rio de Janeiro Olympics.

Other Ventures

After leaving USA Gymnastics, Penny has been involved in various business ventures. He co-founded a marketing and event production company, Thrive Marketing Group, in 2018. He also serves as an advisor to several sports organizations and startups.

Assets

Penny’s assets include real estate investments, primarily in Texas. He owns a home in Houston, valued at over $2 million, and has interests in commercial properties. He also has a substantial investment portfolio, including stocks and bonds.

Annual Income

Penny’s annual income varies due to his diverse business interests. During his tenure at USA Gymnastics, his base salary was around $500,000 per year. Since leaving the organization, his income has been derived from his business ventures and advisory roles, making it difficult to pinpoint an exact figure.

Frequently Asked Questions about  Steve Penny

**Frequently Asked Questions: Steve Penny Net Worth**

1. What is Steve Penny’s net worth?

Steve Penny’s net worth is estimated to be $10 million.

2. How did Steve Penny make his money?

Steve Penny made his fortune primarily as the former president of USA Gymnastics, a position he held from 2005 to 2017. He also has investments in various businesses.

3. What is Steve Penny’s salary at USA Gymnastics?

As the president of USA Gymnastics, Steve Penny’s annual salary was reportedly around $500,000.

4. What is Steve Penny’s role in the Larry Nassar scandal?

Steve Penny was the president of USA Gymnastics during the time when Larry Nassar, a former USA Gymnastics national team doctor, was accused of sexually abusing hundreds of gymnasts. Penny was criticized for his handling of the situation and was eventually forced to resign in 2017.

5. Why was Steve Penny arrested?

Steve Penny was arrested in October 2018 on charges of tampering with evidence in the case of Larry Nassar. He was accused of ordering the removal of documents from the Karolyi Ranch, a former national training center for USA Gymnastics.

6. What is Steve Penny’s current job?

As of now, Steve Penny is not affiliated with USA Gymnastics. He has kept a low profile since his arrest and resignation.

7. Does Steve Penny have any children?

Yes, Steve Penny has two children with his wife, Jill. They have a son named Jack and a daughter named Emily.

8. Where does Steve Penny live?

Steve Penny resides in Indianapolis, Indiana, where USA Gymnastics is headquartered.

9. What is Steve Penny’s education background?

Steve Penny graduated from the University of Texas at Austin with a degree in marketing. He also has a master’s degree in business administration from the University of Houston.

10. What is Steve Penny’s age?

Steve Penny was born on October 29, 1962, making him 59 years old.