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Phoebe Gates, 22, co-founded the shopping comparison app Phia with her former Stanford roommate, Sophia Kianni. The platform lets users compare prices of new and used items across thousands of e-commerce sites.
Many assumed she would turn to her father, Bill Gates, for startup funds, given his status as the world’s 13th richest person. In an April 24 interview with The New York Times, Bill Gates confirmed Phoebe Gates never asked him for money.
He said,
"I would have kept her on a short leash and be doing business reviews, which I would have found tricky, and I probably would have been overly nice, but wondered if it was the right thing to do. Luckily, it never happened."
He noted his involvement could have meant extra oversight, such as holding regular business reviews. The discussion highlights how Phoebe tackled early challenges without direct family funding.
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Bill's surprise when Phoebe Gates told him about her startup plans
Bill Gates said he initially thought Phoebe would come to him for funding once she mentioned her venture. He recalled thinking,
“Oh boy, she’s going to come and ask [for money],” when she broke the news.
He acknowledged that entering the crowded e-commerce space requires significant planning and capital. Reflecting on his possible role, he said he would have been overly involved and doing regular reviews.
He admitted that balancing parental support with business oversight could have been “tricky.” These comments indicate he was prepared to help, but Phoebe Gates' choice not to ask removed potential complications.
Phoebe Gates’ approach to finding her funding
Instead of relying on family wealth, Phoebe followed her mother’s advice to seek external investors. Phoebe Gates and Kianni secured an initial $100,000 from Soma Capital. They also procured a $250,000 grant from a Stanford social entrepreneurship program. Despite facing several rejections in early pitches, they persisted in refining their proposal.
Eventually, they obtained another $500,000 from angel investors to expand Phia’s features. This path allowed Phoebe to experience fundraising challenges firsthand instead of relying on a safety net.
Phoebe Gates also talked about her mother, Melinda. She said,
“She saw it as a real opportunity for me to, like, learn and fail.”
How family values and mentors shaped her journey
Bill Gates has clearly said his children will inherit “less than 1 percent” of his wealth. He said on the Figuring Out with Raj Shamani Podcast.
“In my case, my kids got a great upbringing and education, but less than 1% of the total wealth because I decided it wouldn't be a favor to them.”
He added that his advice is mainly on personnel matters, since he’s “not exactly the target audience” for shopping apps. Beyond family, Phoebe Gates has also leaned on mentors like Kris Jenner, Spanx founder Sara Blakely, and former Honey president Joanne Bradford.
She has faced public assumptions about her success, acknowledging
“If the business is successful, people will say, ‘It's because of her family. And a huge portion of that is true... But I also feel a huge amount of internalized pressure.”
These influences reflect a balance between independence and guided support.
Phoebe Gates’ decision not to seek her father’s backing underscores a deliberate choice to prove herself on her terms. By raising funds externally, she gained practical experience in pitching, negotiating, and scaling a startup. Bill Gates’ remarks about limited inheritance and his potential oversight highlight the family’s emphasis on self-reliance.
Coupled with advice from high-profile mentors, Phoebe’s journey blends personal challenge with supportive guidance. As Phia enters its next phase, her path may encourage other young entrepreneurs to balance legacy with independent ambition.
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