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Benzinga
Benzinga
Business
Shomik Sen Bhattacharjee

Melinda French Gates Reveals Why She Won't Fund Her Daughter's Startup, Says Others Should Back It If Its A 'Real Business'

French Gates United States Phoebe Gates Bill Gates
Dollar,Money.,Bankrupt,Man,Counting,Money,Cash.,Business,Crisis,Finance

Melinda French Gates says she will not bankroll her daughter's new fashion-tech venture, arguing that the startup must prove itself the same way any "real business" does.

What Happened: "She got capitalized not because of my contacts, not because of me," the billionaire philanthropist told the Power of Women's Sports Summit, according to Fortune. "I wouldn't put money into it," she added, insisting her daughter learn how to navigate the sting of rejection on her own.

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