Melinda French Gates Opens Up About Preventing “Nepo Baby” Privileges for Her Kids

Billionaire philanthropist Melinda French Gates, whose net worth is estimated at over $31 billion, recently shared how she’s intentionally avoiding the “nepo baby” label for her children — even when it comes to funding their entrepreneurial dreams. 

During a candid conversation with tennis icon Billie Jean King at the Power of Women’s Sports Summit, the 60-year-old revealed that she turned down the chance to invest in her daughter’s new startup.

“I have a daughter who just started a business this year,” French Gates explained. “She got capitalized — not because of my contacts, not because of me. I refused to put money into it.”

Though she didn’t name her daughter, reports point to 22-year-old Phoebe Gates — the youngest child of Melinda and Microsoft co-founder Bill Gates — who recently co-founded Phia, an AI-powered fashion app. Launched with her Stanford roommate Sophia Kianni, Phia helps users compare clothing prices across more than 40,000 retailers to score the lowest deals fast.

French Gates emphasized the extra hurdles women face in raising venture capital:

“It is very, very hard to get your business funded if you’re a woman. You have to learn how to have the courage to play the game and stick with it.”

The mother of three has long championed women’s economic empowerment and gender equality through her decades-long work, including nearly 25 years as co-chair of the Bill & Melinda Gates Foundation before stepping away in 2024.

Her stance highlights a growing conversation around “nepo babies” (children of ultra-wealthy or famous parents who benefit from family connections) and how even some of the world’s richest parents are pushing their kids to succeed on merit rather than money or name recognition.