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NDTV
09-07-2025
- Business
- NDTV
Billionaire Melinda Gates Explains Why She Won't Fund Daughter's Startup
New Delhi: Despite being one of the wealthiest women in the world and having a net worth of net worth of $31 billion, Melinda French Gates has chosen not to financially support her daughter's startup venture. Speaking recently at the Power of Women's Sports Summit alongside tennis icon Billie Jean King, 60-year-old Melinda French Gates, former wife of Bill Gates, revealed that although her daughter recently launched a new business, she will not invest in her daughter's venture. "I have a daughter who just started a business this year. She got capitalised, not because of my contacts, not because of me. I wouldn't put money into it," according to a report by the New York Post. Melinda Gates emphasised the difficulty women face in securing investment. "It is very, very hard to get your business funded if you're a woman. And so you do have to learn a bit how to have the courage to play the game and to stick with it," Gates added. Although Melinda Gates didn't mention her daughter by name, it's likely she was referring to 22-year-old Phoebe Gates, her youngest child with Microsoft co-founder Bill Gates. Phoebe recently co-founded Phia with her former Stanford classmate Sophia Kianni. Phia is a digital fashion platform that aggregates clothing prices across over 40,000 websites. Melinda Gates further said that she believes in letting her daughter learn the challenges of entrepreneurship. She said that if this is a "real business," then others need to be willing to back it - and if not, her daughter will learn to handle rejection. That's what I told her. She's growing from this," the New York Post reported. Phoebe also appears to be on board with the approach. In an earlier interview this year with The New York Post, she had said, "We don't want this to be something that's funded by my family - we want this to be a real company. 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." The Gates family has long made it clear that they want their children to build their own paths. Bill Gates has previously said that each of their three children, 30-year-old Jennifer, 25-year-old Rory, and Phoebe, will inherit less than 1% of his fortune. Earlier in April this year, Bill Gates had expressed gratitude that his youngest daughter, Phoebe Gates, secured funding for her startup independently, without relying on him. In a New York Times interview, Gates revealed he anticipated she'd ask for financial help when launching her company. While he made it clear that he would have been more than happy to help his daughter out financially, he also acknowledged that his support would have likely come with certain conditions and strings attached. "I would have kept her on a short leash and been doing business reviews, which I would have found tricky. And I probably would have been overly nice, but I wondered if it was the right thing to do. Luckily, it never happened," he had said. After graduating from Stanford in 2024, Phoebe Gates raised more than $500,000 from venture capitalists and angel investors, showcasing her entrepreneurial skills. Unlike her father, who famously left Harvard to start Microsoft, she said leaving college was not considered an option.
New York Post
08-07-2025
- Business
- New York Post
Melinda French Gates refuses to fund daughter's startup despite $31 billion net worth
Melinda French Gates doesn't want to raise a nepo baby. The ex-wife of Bill Gates and longtime philanthropist, with a net worth of $31 billion, said she refused to fund her daughter's startup. 'I have a daughter who just started a business this year,' said French Gates, 60, during a recent talk with tennis legend Billie Jean King during the Power of Women's Sports Summit. Advertisement 'She got capitalized, not because of my contacts, not because of me. I wouldn't put money into it.' The mom did not name the daughter, but Phoebe Gates, the youngest of her three children with the Microsoft founder, recently launched an AI-powered fashion app called Phia with her Stanford roommate, Sophia Kianni. The platform compares clothing prices across 40,000 sites to help users find the best deals. Advertisement 'It is very, very hard to get your business funded if you're a woman,' French Gates said. 'And so you do have to learn a bit how to have the courage to play the game and to stick with it.' French Gates has long invested in women's rights philanthropy, previously serving as co-chair of the Bill and Melinda Gates Foundation for nearly 25 years. 3 Melinda French Gates and Phoebe Gates at the 2024 Albie Awards. FilmMagic However, she said it's important that her daughter learns how to fund her startup the hard way. Advertisement If this is a 'real business,' French Gates said, then others need to be willing to back it – and if not, her daughter will learn to handle rejection. 'That's what I told her. She's growing from this,' she added. Phoebe, 22, didn't seem to mind getting the brush-off from her rich mom, who walked away from her 2021 divorce with an estimated $25 billion settlement. 'We don't want this to be something that's funded by my family – we want this to be a real company,' Phoebe, 22, told The Post earlier this year. Advertisement '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.' 3 Sophia Kianni and Phoebe Gates in New York City. Christopher Peterson / It's not the first time the family made it clear that they want their children to carve a name for themselves. Bill Gates has previously said their three children – daughter Jennifer, 30, son Rory, 25, and Phoebe – would inherit 'less than 1%' of his fortune after his death. While French Gates refused to contribute to Phia, and the company's funding remains private, Kris Jenner has publicly said she's backing the platform. 3 Phoebe Gates and Sophia Kianni discuss their platform Phia with the New York Post. Brian Zak/NY Post The recent Stanford graduates also launched a podcast in April called 'The Burnouts' on 'Call Her Daddy' founder Alex Cooper's Unwell Network, tracking their early entrepreneurial experiences. Advertisement 'A really critical piece of marketing is this founder-led growth and pulling back the curtain on what it's like to be a founder and to learn,' Phoebe told The Post at the time. The daughter of Bill and Melinda Gates previously interned at British Vogue and has spoken publicly on reproductive rights at several events.
Economic Times
08-07-2025
- Business
- Economic Times
Melinda Gates refuses to fund daughter's startup, despite $31 billion net worth
Melinda French Gates did not fund her daughter's startup. She wants her daughter to learn business independently. Phoebe Gates, along with Sophia Kianni, launched 'Phia'. It is a fashion-tech platform for comparing clothing prices. Melinda wants her daughters to be strong. She highlighted the challenges women face in securing business funding. Billie Jean King emphasized learning from setbacks. Tired of too many ads? Remove Ads She wants her daughter to learn and grow on her own Tired of too many ads? Remove Ads Melinda says it's about making daughters stronger Setbacks help women succeed, says Billie Jean King FAQs Melinda French Gates is worth around $30.8 billion, but she still refused to give money to her daughter's startup. She said this during the Power of Women's Sports Summit by E.l.f. Beauty, explaining her decision, as per the reports.'My daughter started a business this year,' Melinda said, 'but I didn't fund it—not because of my contacts or money.' She believes if it's a real business, others should invest in it, not just her as a parent, as per the report by also said her daughter needs to learn how to deal with rejection and grow from it. This mindset matches what her ex-husband, Microsoft co-founder Bill Gates, has said before: He once said that his children would inherit less than 1% of his didn't name the daughter, but most likely it's Phoebe Gates, the youngest one, who is 22 years old. Phoebe Gates recently launched a fashion-tech startup called 'Phia' with her Stanford roommate, Sophia Kianni, according to the report by helps users compare clothing prices from over 40,000 websites to find the best deals. Earlier this year, Phoebe also said her parents didn't let her drop out of Stanford to start the company—unlike Bill Gates, who dropped out of says this is not about being strict—it's about teaching daughters to be strong and independent in a world that's tough on women. She shared that successful women often go through difficult times and come out stronger, as per the report by has been fighting for women's empowerment for over 20 years and says that female founders still have a harder time raising funds than men. She said, 'It's really hard for women to get business funding. You need courage and persistence to stay in the game', as mentioned in the legend Billie Jean King, who was at the summit with Melinda, agreed and said setbacks help people grow. King also said she has banned the word 'failure' and replaced it with the idea of 'getting feedback', according to the report by believes feedback is more useful than fearing failure—and helps founders keep moving forward. According to global data, only 2.3% of venture capital went to female founders last year, proving how tough the startup world is for women, as stated in the Gates said she wants her daughter to learn how real businesses work and grow through rejection without family Gates co-founded 'Phia,' a fashion-tech platform that helps users compare clothing prices from over 40,000 websites.
Hindustan Times
08-07-2025
- Business
- Hindustan Times
Melinda Gates, with $30B net worth, has refused to fund daughter's new startup: Here's why
Melinda French Gates has refused to fund her daughter's startup. During the Power of Women's Sports Summit, Gates revealed that her daughter has recently started a business. However, she clarified: 'She got capitalized not because of my contacts, not because of me. I wouldn't put money into it.' Melinda French Gates has a net worth of $30.2 billion.(AP) As stated by Fortune, Gates noted that if it's a 'real business,' then external investors ought to be ready to back it. 'She is growing from this,' she remarked, noting that learning to handle rejection is essential for becoming a resilient entrepreneur. While she did not mention her daughter's name, it is probably Phoebe Gates, who recently co-founded a fashion-tech startup, Phia, alongside her Stanford roommate. Melinda Gates and Bill Gates value success earned independently Melinda's position aligns with the beliefs she holds in common with her former spouse, Bill Gates. The Microsoft cofounder stated that his kids will receive 'less than 1%' of his wealth. Phoebe Gates has mentioned before that her parents wouldn't allow her to leave Stanford to launch a business, despite her father famously abandoning Harvard to create Microsoft. Phia, the platform she co-created, analyzes prices from more than 40,000 fashion websites to assist users in locating the best bargains. Female entrepreneurs require determination, not assistance For Gates, it's not merely about being firm with her daughter - it's about equipping her to endure and succeed in an unjust world. She stated that securing funding for a business is incredibly challenging 'if you are a woman.' Tennis icon Billie Jean King, who attended the event with Gates, commended the development that results from challenges. 'I don't think it'll ever fail, she'll get feedback from every situation.' King stated, 'Turn it inside out by asking yourself, 'What's the feedback I'm getting from this?'' According to Fortune, just 2.3% of worldwide venture capital is allocated to teams led by women. Gates' method may seem harsh, yet it's based on a profound reality: endurance is essential. Melinda Gates net worth As of April 2025, Melinda has a net worth of $30.2 billion, according to Forbes. FAQs Did Melinda Gates fund her daughter's startup? No, she believes her daughter should raise funds independently. How much will Gates' children inherit? Less than 1% of Bill Gates' wealth. What is Phoebe Gates' startup about? It's a fashion-tech platform comparing clothing prices online. Why is female startup funding hard? Women face more rejection and less investor support.
News18
08-07-2025
- Business
- News18
Melinda French Gates Refuses To Fund Daughter's Startup: 'If It's Real, Others Should'
Last Updated: Melinda French Gates declined to invest in her daughter startup, stressing the need for entrepreneurial resilience and the importance of struggle. Billionaire philanthropist Melinda French Gates shared that she refused to invest in her daughter's startup, saying that entrepreneurial resilience must be built without parental safety nets. Speaking at the Power of Women's Sports Summit, Melinda French Gates disclosed that her daughter had recently launched a business but emphasized that her success is not backed by family money. 'She got capitalized not because of my contacts, not because of me. I wouldn't put money into it," Melinda French Gates said, adding, 'If it's a real business, other investors ought to be ready to back it." Melinda French Gates emphasised the importance of struggle and feedback in shaping success and noted the disparity in funding for female entrepreneurs. She said, 'Getting funding is incredibly difficult if you are a woman," adding that true endurance and growth are born from overcoming those very obstacles. As of April 2025, Melinda French Gates has a net worth of $30.2 billion, according to Forbes. First Published: July 09, 2025, 02:24 IST
