Melinda French Gates, billionaire philanthropist and former wife of Microsoft co-founder Bill Gates, has sparked fresh conversation around generational wealth and entrepreneurship after revealing she chose not to fund her daughter’s new startup, despite having a net worth estimated at $31 billion.
Speaking at the Power of Women’s Sports Summit in a candid conversation with tennis legend Billie Jean King, the 60-year-old philanthropist shared her reasoning: she wants her children to earn success without relying on family wealth or connections.
“I have a daughter who just started a business this year,” French Gates said. “She got capitalized, not because of my contacts, not because of me. I wouldn’t put money into it.”
While she did not name the daughter, it is widely believed she was referring to 22-year-old Phoebe Gates, her youngest child with Bill Gates. Phoebe recently co-founded Phia, an AI-powered fashion app developed alongside her Stanford University roommate, Sophia Kianni. The platform helps users compare clothing prices across over 40,000 retailers, aiming to make online shopping more efficient and budget-friendly.
A Lesson in Independence
French Gates emphasized that her decision wasn’t a lack of support, but a deliberate choice to ensure her daughter faces the real challenges of building a business.
“It is very, very hard to get your business funded if you’re a woman,” she said. “And so you do have to learn a bit how to have the courage to play the game and to stick with it.”
She added that if her daughter’s startup is truly a viable business, it should attract backing from independent investors. “If this is a real business, others need to be willing to invest in it,” she explained. “If not, she’ll learn from that. She’s growing from this.”
Phoebe Gates on Building a “Real Company”
Phoebe appears to share her mother’s perspective on proving herself independently. In an earlier interview with The New York Post, she explained why keeping family money out of the business was intentional.
“We don’t want this to be something that’s funded by my family — we want this to be a real company,” she said. “That’s really important for us. While I have a ton of privilege coming from my family, it’s about having a product that stands on its own.”
A Family Tradition of Earning Success
This isn’t the first time the Gates family has made headlines for their approach to wealth. Bill Gates has previously stated that his three children — Jennifer, 30; Rory, 25; and Phoebe, 22 — will inherit “less than 1%” of his fortune. The tech mogul has repeatedly emphasized the importance of his children carving their own paths.
Despite Melinda French Gates’ refusal to invest in Phia, the company has not gone unnoticed by high-profile supporters. According to reports, Phia has caught the attention of reality TV star and entrepreneur Kris Jenner, who has publicly expressed her support for the platform.
French Gates, who previously served as co-chair of the Bill & Melinda Gates Foundation for nearly 25 years, continues to champion women’s rights and empowerment — values she clearly hopes to instill in her own children through both example and experience.
