-
Microsoft
co-founder Bill Gates has stated
that his offspring will receive ”
less than 1%
of his fortune once he ultimately dies. However, even while their parents are still living, the Gates’ kids will not be relying on the family’s resources—and Melinda French Gates is ensuring this, beginning with refusing to support her daughter’s latest business venture.
Melinda French Gates could be among the richest women globally, according to estimates
$30.8 billion
wealth, but you’ll never see her writing checks for her daughter’s latest business venture.
A woman with a daughter who began her own venture this year,” the wealthy humanitarian and former wife of Bill Gates said recently during the Power of Women’s Sports Summit hosted by E.l.f. Beauty. “Her funding came not from my connections or myself. I didn’t invest financially.
What was her logic? She stated, “If this is a ‘legitimate venture,’ then others must be ready to support it.” More importantly, her daughter needed to understand how to deal with the pain of being turned down if it fails to secure financial backing. “That’s what I shared with her,” French Gates continued. “She’s gaining experience through this.”
It reflects her and Bill Gates’ longstanding view on money. The co-founder of Microsoft had earlier mentioned that their kids would receive ”
less than 1%
of his upon his eventual death — urging them to carve out their own path in life.
Although the 60-year-old mother did not specify which daughter she meant, their youngest child, Phoebe, has recently started a fashion-technology company called Phia along with her Stanford friend, Sophia Kianni.
The website checks pricing across more than 40,000 stores to assist customers in discovering the most favorable offers. In April, the 22-year-old ”
nepo baby
revealed that her parents refused to allow her to leave the renowned university in order to start a business, as her father had done.
The significance of failure for women entrepreneurs
The role of setbacks in the journey of female business owners
Why experiencing failure matters for women who start businesses
The value of facing defeat as a woman entrepreneur
How overcoming failures shapes successful female startups
The impact of adversity on female entrepreneurial success
Understanding the necessity of failure for women leading companies
What losing can teach female founders about building their ventures
The crucial part that mistakes play in the growth of female-led enterprises
Learning from missteps: A key aspect for women starting businesses
Regarding French Gates, emphasizing that her daughter create her own fundraising journey goes beyond strict discipline or independence—it’s about assisting her in building resilience and learning how to cope with refusal within an unfair structure.
In the end, the philanthropist stated, it’s the single shared element linking the accomplished women featured on her.
YouTube
series,
Moments That Make Us
.
I noticed that enduring tough experiences transformed each one of them, and that they needed to discover strength from within,” she stated. “And by discovering that strength, they discovered who they truly were.
Even now, French Gates—whose career spanning more than 20 years has focused on promoting women’s advancement—states that female entrepreneurs must be more assertive than men to succeed in the tech industry.
It’s extremely difficult to secure funding for your business if you’re a woman,” she stated. “Therefore, you must develop some bravery to engage in the competition and persevere.
Tennis icon Billie Jean King, who was also on stage, concurred—and commended the development that arises from challenges: “In line with your observation, your daughter has managed to launch this initial venture—it’s remarkable. I believe it won’t ever collapse; she’ll gain insights from each scenario.”
Actually, King stated, she has completely prohibited the use of the word “failure” in her vocabulary—and advises others who work with her not to use it either. “Once individuals begin contemplating failure, it evokes a very negative emotion,” she revealed exclusively.
Flip it around by questioning, ‘What kind of response am I receiving from this?’
With just
2.3 percent of worldwide venture capital
visiting all-female founder teams last year, they weren’t mistaken: the handful of female entrepreneurs who eventually succeed will have transformed setbacks into motivation.
This tale first appeared on
