Bill Gates recently shared that he would have gladly supported his daughter Phoebe Gates in launching her new business venture — but, as he put it, “luckily,” she never asked.
Phoebe Gates, 22, has partnered with her former Stanford classmate Sophia Kianni, 23, to launch Phia, an innovative new app that helps consumers track whether they’re overpaying for products by comparing the prices of new and pre-owned items across multiple online platforms.
Despite being the youngest daughter of the Microsoft co-founder — who currently ranks as the world’s 13th wealthiest person with an estimated net worth of $102.2 billion — Phoebe forged her own path, raising funds for Phia independently without tapping into her father’s fortune.
In an interview with The New York Times, the 69-year-old billionaire confirmed he would have been willing to offer financial help had Phoebe reached out. However, he acknowledged that accepting money from him might have resulted in “too much parental oversight” over the project.
According to the report, Phoebe received key advice from her mother, Melinda French Gates, who encouraged her to seek funding on her own. Taking that guidance to heart, Phoebe and Sophia kicked off their entrepreneurial journey by securing $100,000 from Soma Capital, followed by a $250,000 grant from Stanford’s social entrepreneurship program.
The path wasn’t without obstacles. After facing multiple rejections from potential investors, Phoebe and Sophia eventually succeeded in raising an additional $500,000 to support Phia’s launch.
