Melinda French Gates Stands Firm: Why She Refused to Fund Daughter’s Startup Despite $31B Net Worth

The philanthropist explains why her daughter Phoebe Gates must earn her entrepreneurial stripes without family money—championing independence, resilience, and the power of women in business.

Melinda French Gates Refuses to Fund Daughter’s Startup, Promotes Independent Success

Melinda French Gates, a renowned philanthropist and former co-chair of the Bill & Melinda Gates Foundation, has made headlines for a surprising personal stance: refusing to fund her daughter’s new startup — despite a personal net worth of $31 billion.

Speaking at the Power of Women’s Sports Summit alongside tennis icon Billie Jean King, French Gates shared a candid perspective on parenting, privilege, and entrepreneurship. “I have a daughter who just started a business this year,” she revealed. “She got capitalized, not because of my contacts, not because of me. I wouldn’t put money into it.”

Though she didn’t mention her by name, it’s clear she was referring to her youngest child, Phoebe Gates, 22, who recently co-launched Phia, an AI-powered fashion app, with her Stanford roommate Sophia Kianni. The platform helps users compare clothing prices across 40,000 sites to find the best deals.

French Gates emphasized that it’s deliberately hard for her daughter. “It is very, very hard to get your business funded if you’re a woman,” she said, stressing the importance of learning how to navigate that challenge head-on. “If this is a real business, others will fund it. If not, she’ll learn to handle rejection.”

Despite her philanthropic passion for gender equity and women’s empowerment, French Gates said giving her daughter a financial leg-up would send the wrong message. “She’s growing from this,” she added.

Phoebe, meanwhile, has embraced her mother’s tough love. “We don’t want this to be something that’s funded by my family – we want this to be a real company,” she told The Post earlier this year. “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 been vocal about raising self-sufficient children. Bill Gates has previously stated that his three children — Jennifer, Rory, and Phoebe — will inherit less than 1% of his fortune.

While Phia’s funding details remain private, Kris Jenner has publicly endorsed the project. Phoebe and Kianni also launched a podcast, The Burnouts, on Alex Cooper’s Unwell Network, chronicling the highs and lows of launching a startup as Gen Z founders.

This principled parenting approach from Melinda French Gates sends a strong message: real innovation must stand on merit—not inheritance.