Bill Gates ex-wife reveals why she didn’t fund daughter's startup
Melinda French Gates did not fund her daughter Phoebe's startup venture. She wanted Phoebe to experience the fundraising process independently and learn resilience. This approach mirrors Bill Gates' philosophy on inheritance for their children. Phoebe Gates launched a fashion-tech startup called Phia shopping app. French Gates believes rejection builds courage for female founders.
Bill Gates' ex-wife, Melinda French Gates, has revealed why she did not fund her daughter Phoebe Gates' startup. French Gates explained that she intentionally stayed out of her daughter's fundraising process, even though her extensive network could have helped. Instead, she watched from the sidelines as Phoebe tried to raise money from investors.
French Gates emphasized that she wanted Phoebe to experience the fundraising process independently, including the possibility of being rejected by investors. She believed that if the startup was a genuine business, other investors would be willing to back it. This decision aligns with Bill Gates' own views on inheritance, as he has said that his children will receive less than 1% of his wealth when he dies.
Phoebe Gates launched a fashion-tech startup called Phia, which is a platform comparing clothing prices across more than 40,000 websites. The startup has garnered attention, including recent scrutiny over sales attributed to the platform. French Gates believes that the challenges faced by women in building companies, such as difficulty in securing funding, can help develop resilience and courage, which are crucial qualities for successful entrepreneurs.
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