# Melinda Gates won't fund her daughter's startup

> The billionaire philanthropist is teaching her Gen Z daughter resilience by refusing to bankroll her fashion-tech venture.
- Title: Melinda Gates won't fund her daughter's startup · Fortune
- Summary: The billionaire philanthropist is teaching her Gen Z daughter resilience by refusing to bankroll her fashion-tech venture. Melinda French Gates believes her…
- Keywords: melinda french gates, bill gates, phoebe gates, phia, startup funding, female founders, venture capital, wealth inheritance, gen z entrepreneurs, fashion-tech, fundraising, resilience
- Source: Fortune — https://fortune.com/article/melinda-french-gates-reveals-shes-refusing-to-fund-her-gen-z-daughters-startup
- Author: Orianna Rosa Royle
- Read time: 1 min
- Topics: melinda french gates, bill gates, phoebe gates, phia, startup funding, female founders, venture capital, wealth inheritance, gen z entrepreneurs, fashion-tech, fundraising, resilience
## Gates children inherit less than 1%
Bill Gates said his children will receive less than 1% of his wealth when he passes, insisting they make their own way in the world despite the family's $34.5 billion fortune.
## Melinda refuses to fund daughter's startup
Melinda French Gates watched her daughter fundraise independently and deliberately didn't contribute money or use her contacts, believing a real business needs outside backing.

> She got capitalized not because of my contacts, not because of me. I wouldn't put money into it.
## Phoebe Gates launched Phia
Phoebe Gates, the youngest Gates child, co-founded Phia with Stanford roommate Sophia Kianni. The fashion-tech platform compares clothing prices across over 40,000 sites to find the best deals.
## Learning to handle rejection matters
Melinda believes her daughter needs to experience the sting of rejection to develop resilience. She said this is what she told her daughter, and she's growing from it.

> That's what I told her. She's growing from this.
## Female founders face steeper odds
Only 2.3% of global venture capital goes to female founding teams. Melinda says women must develop sharper elbows and more courage than male counterparts to survive in startups.

> It is very, very hard to get your business funded if you're a woman.
## Reframe failure as feedback
Tennis legend Billie Jean King, speaking alongside Melinda, said she's banned the word failure and encourages people to ask what feedback they're getting instead of dwelling on setbacks.

> When people start thinking about failure, it's a very negative feeling.
## Resilience is the common thread
Melinda studied successful women on her YouTube series and found they all had gone through something difficult and learned to find resilience. That's what separates those who break through.

> I saw that going through something difficult changed all of them.
## Key takeaway

Melinda French Gates believes her daughter will develop crucial business skills and grit by fundraising independently, rather than relying on family wealth or connections.