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Phoebe Gates, the youngest of Bill and Melinda French Gates’ three children, recently co-launched an AI-powered shopping app named Phia
Billionaire philanthropist Bill Gates with his daughter, Phoebe Gates. (GETTY IMAGES via AFP)
Microsoft co-founder and billionaire philanthropist Bill Gates has revealed that he chose not to fund his daughter Phoebe Gates’ new business venture — and for a very specific reason.
In a recent interview with The New York Times, Gates said he wanted to avoid the complications that might come from being too involved. “I thought, ‘Oh boy, she’s going to come and ask,’” he admitted, referring to his initial reaction when Phoebe began planning her business.
Phoebe Gates, the youngest of Bill and Melinda French Gates’ three children, recently co-launched an AI-powered shopping app named Phia with her former Stanford University roommate. The app compares prices of clothing, shoes, and accessories across both new and second-hand listings — aiming to help users find the best deals.
While Gates said he would have supported his daughter financially if asked, he confessed that the support would have come with strings attached.
“I would have kept her on a short leash and be doing business reviews, which I would have found tricky,” he said. “I probably would have been overly nice, but wondered if it was the right thing to do. Luckily, it never happened.”
Earlier this month, Gates also made headlines for stating he will leave less than one per cent of his wealth to his children. Speaking on the Raj Shamani Podcast, he explained that while his children received a solid education and upbringing, he believes they should build their own paths to success.
Despite this philosophy, with Gates’ estimated net worth at $162 billion, even one per cent equates to $1.62 billion — enough to ensure his children remain among the world’s wealthiest individuals.
Bill Gates and Melinda French Gates, who divorced in 2021 after 27 years of marriage, share three children: Jennifer (28), Rory (25), and Phoebe (22).
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