Melinda French Gates has made it clear that she will not fund her daughter’s startup, highlighting the importance of independent success and resilience in entrepreneurship. Speaking at the Power of Women’s Sports Summit, Gates shared that her daughter recently launched a business but clarified:
“She got capitalized not because of my contacts, not because of me. I wouldn’t put money into it.”
Despite having a net worth of $30.2 billion, Melinda Gates stressed that external investors should see potential in the business if it is truly viable.
“She is growing from this,” Gates said, underscoring how learning to face rejection is crucial in building resilience.
While Gates did not name her daughter, it is believed to be Phoebe Gates, who recently co-founded Phia, a fashion-tech startup, with her Stanford roommate. The platform aggregates prices from over 40,000 fashion websites to help users find the best deals.
Melinda’s stance reflects the shared values of independence and hard-earned success she holds with her former husband, Bill Gates, who previously stated that his children would inherit “less than 1%” of his wealth. Phoebe herself has mentioned that her parents refused to let her drop out of Stanford to pursue entrepreneurship—even though her father famously left Harvard to build Microsoft.
Gates emphasized that her decision wasn’t about being strict but about equipping her daughter to succeed in a world that often works against female entrepreneurs.
“It’s incredibly hard to get funded if you are a woman,” she said.
Tennis legend Billie Jean King, who joined Gates at the event, also endorsed the value of facing adversity.
“I don’t think it’ll ever fail, she’ll get feedback from every situation,” King remarked.
“Turn it inside out by asking yourself, ‘What’s the feedback I’m getting from this?’”
According to Fortune, just 2.3% of global venture capital goes to female-led teams—a stark statistic that underscores Gates’ approach. Her method may appear tough, but it comes from a place of deep understanding: success demands strength, adaptability, and grit.
As of April 2025, Melinda Gates’ net worth stands at $30.2 billion, according to Forbes.