Melinda French Gates has chosen not to financially support her daughter Phoebe Gates’ startup, emphasizing the importance of building resilience and seeking outside investment. Speaking at the Power of Women’s Sports Summit, Gates revealed that while her daughter recently launched a business, she made it clear: “She got capitalized not because of my contacts, not because of me. I wouldn’t put money into it.”
Despite her $30.2 billion net worth, Gates explained that if the venture is viable, external investors should be willing to support it. “She is growing from this,” she said, highlighting the value of learning to navigate rejection—especially for women entrepreneurs.
Likely Referring to Phoebe Gates’ Fashion-Tech Venture
Although she didn’t name her daughter directly, Gates was likely referring to 21-year-old Phoebe Gates, who recently co-founded Phia, a fashion-tech startup, with her Stanford roommate. The company uses AI to scan over 40,000 fashion websites to help users find the best prices.
Gates Family Values: Earned Success Over Inheritance
Melinda’s stance reflects a shared philosophy with her ex-husband, Microsoft co-founder Bill Gates, who has said his children will inherit “less than 1%” of his fortune. Phoebe herself has noted that her parents wouldn’t let her leave Stanford to launch a business—despite her father famously dropping out of Harvard to start Microsoft.
Women Entrepreneurs Must Be Especially Tenacious
For Gates, her refusal isn’t about being unsupportive—it’s about preparing her daughter to face the very real challenges women encounter in the business world.
“It’s incredibly hard to get funding if you’re a woman,” she stated. Just 2.3% of global venture capital goes to all-female founding teams, according to Fortune.
Tennis legend Billie Jean King, who also spoke at the summit, praised the value of tough lessons. “I don’t think it’ll ever fail,” she said of the startup. “She’ll get feedback from every situation.”
King added, “Turn it inside out by asking, ‘What feedback am I getting from this?’”
FAQs
Did Melinda Gates fund her daughter’s business?
No, she insisted her daughter raise money independently to grow as an entrepreneur.
How much will Bill Gates’ children inherit?
Less than 1% of his multi-billion-dollar fortune.
What does Phoebe Gates’ startup do?
Phia is a fashion-tech platform that compares prices across thousands of clothing websites.
Why is it harder for women to get startup funding?
They face more skepticism and receive a fraction of global venture capital investment.
