8 hours ago
Last Updated:July 09, 2025, 02:24 IST
Melinda French Gates declined to invest in her daughter startup, stressing the need for entrepreneurial resilience and the importance of struggle.
Melinda French Gates
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."
Although Melinda French Gates didn’t name her daughter, it is likely Phoebe Gates, who recently co-founded Phia, a fashion-tech platform that analyses prices from over 40,000 fashion websites to help users find the best deals.
Melinda French Gates said, “It’s not about being harsh. It’s about preparing her- and women like her- for the real world."
Melinda French Gates described her tough-love approach as a lesson in grit- particularly for women founders, who often face steeper funding hurdles. She said, “She is growing from this. Learning to handle rejection is essential for becoming a resilient entrepreneur."
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.
Location :New York, United States of America (USA)
First Published:News world Melinda French Gates Refuses To Fund Daughter’s Startup: 'If It’s Real, Others Should'
