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Melinda Gates, with $30B net worth, has refused to fund daughter's new startup: Here's why
Melinda Gates declined to finance her daughter Phoebe Gates' startup, encouraging her to find external investors and develop resilience.
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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.”
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.
