New Delhi (Desk) | July 9, 2025 - At the Power of Women’s Sports Summit, billionaire philanthropist Melinda French Gates made headlines by revealing that she has chosen not to financially support her daughter Phoebe Gates’ new business venture. Despite having a net worth of over $31 billion, Melinda explained that she believes in allowing her daughter to grow on her own terms without relying on family money or connections.

Speaking at the event, Melinda shared that Phoebe recently launched a fashion-tech startup named Phia with her Stanford roommate Sophia Kianni. The app is designed to help users compare prices for clothing across thousands of online stores using AI tools. Melinda said her daughter raised funds independently, without any financial help from her family. “I have a daughter who just started a business this year. She got capitalized not because of my contacts, not because of me. I wouldn’t put money into it,” she said.

Melinda emphasized that the decision wasn’t about lack of support or belief in Phoebe, but rather about teaching her the realities of entrepreneurship. “If this is a real business, then others need to be willing to back it, and if not, she’ll learn from rejection,” she said. “She’s growing from this.”

Phoebe Gates, who has previously spoken about her desire to make a name for herself beyond being the daughter of Bill and Melinda Gates, has also said publicly that she wants the company to stand on its own merit. She has stressed that Phia should be seen as a legitimate startup, not one carried by her family's reputation or money.

The incident has sparked widespread discussion on the importance of independence, especially among children of wealthy families. Many praised Melinda’s decision as a strong parenting move and an effort to ensure her daughter earns success through her own efforts. Others noted that women-led startups often struggle more to receive investment, and that teaching resilience is just as valuable as offering financial help.

Melinda’s former husband, Microsoft co-founder Bill Gates, has also expressed similar beliefs. In past interviews, he has made it clear that most of his wealth will go toward philanthropy, not inheritance, and that he wants his children to forge their own careers and paths.

The story has resonated with young entrepreneurs and business families alike, as it touches on broader themes of privilege, opportunity, and personal accountability. While many children of the wealthy inherit both money and influence, the Gates family appears committed to instilling the values of hard work, self-reliance, and growth through experience.

As Phoebe Gates continues building her startup, her mother’s public stance may serve as both motivation and a reminder that real-world success doesn’t come with shortcuts, even when your last name is Gates.