Why Bill Gates didn’t fund his daughter’s startup

Microsoft cofounder Bill Gates was relieved he didn’t have to fund his daughter Phoebe Gates’ new ecommerce venture, Phia, an AI-powered shopping app that launched this week.

In an interview with the New York Times, Gates said he braced himself when Phoebe and her Stanford roommate Sophia Kianni shared their plans to enter the ecommerce space.

“I thought, ‘Oh boy, she’s going to come and ask,’” Gates recalled.


Although he would have backed Phia financially if asked, Gates said it would have been “tricky.”

“And then 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 added.

Gates, who previously said he plans to leave his children “less than 1%” of his fortune to promote independence, noted that Phoebe did seek his advice on building her team.

Phoebe also credited her mother, Melinda French Gates, for encouraging her to raise funding independently.

“She saw it as a real opportunity for me to, like, learn and fail,” Phoebe said.

About Phia

Phia is a free AI-powered browser extension that helps users find fashion deals across more than 40,000 retailers. When users click the “Should I Buy This?” button while browsing, it instantly provides price insights — flagging whether a price is high, typical, or fair — and suggests better-priced alternatives.

Phia’s core team comprises four full-time engineers, an operations manager, and a designer who is completing her final year at Rutgers University. Each team member holds equity in the startup. Phia plans to monetise via affiliate links.