Instead of investing, Gates supported Phoebe by advising her mainly on personnel issues. “When it comes to shopping, I’m not exactly the target audience,” he admitted.
Gates also reflected on Phoebe’s character, noting, “She’s the most different than I am. Because she’s so good with people. When we would go on family vacations, we would find some part of the beach to just be off on our own, and Phoebe would go down the beach and meet people and bring them back to introduce them to us.”
What Phia brings to the online shopping world
Phoebe Gates, teaming up with her former Stanford roommate and climate activist Sophia Kianni, launched Phia with the goal of transforming online shopping.
According to a report by People, Phia is a free AI-powered app that compares prices across more than 40,000 retailers and secondhand platforms, offering users the best available deals. Among its standout features are the “Should I Buy This?” button and personalised shopping preferences, both aimed at making shopping simpler and more sustainable.The app’s vast database includes over 250 million secondhand items from platforms such as The RealReal, Vestiaire Collective, and Poshmark. It operates as an iOS app and a Chrome browser extension, catering to users on mobile and desktop.Phoebe and Sophia, speaking jointly to People, said, “Shopping for the things you love shouldn’t be hard, expensive, or a waste of time. That’s why we built Phia—to make finding the best deal effortless.”
Outside investors show confidence in Phia
Phia has already attracted investments from prominent figures, including Kris Jenner and entrepreneur Desiree Gruber. Their backing signals early confidence in the app’s potential to disrupt the e-commerce space.
The app also underscores a growing shift among younger entrepreneurs who are keen to merge consumer technology with sustainable practices.
A family approach to wealth and independence
Bill Gates’ decision to refrain from funding Phia fits a broader philosophy he holds about his children’s financial independence. Speaking earlier on Raj Shamani’s podcast, Gates revealed that he has given his children “less than 1 per cent” of his total wealth, encouraging them to forge their own paths rather than rely on inheritance.
The Gates family has a history of balancing wealth with values. In 2018, Bill Gates purchased a $15.82 million horse farm in North Salem, Westchester, for his eldest daughter Jennifer Gates as a graduation gift from Stanford University, according to The New York Post and The Journal News.
The estate, a sprawling 124-acre property with top-class equestrian facilities, was tailored to support Jennifer’s passion for horse riding. This was not the family’s only significant real estate investment; Gates had previously purchased a $38 million equestrian estate in Wellington, Florida, another hub for elite equestrians.
Balancing extravagance and modesty
Despite these high-profile purchases, Melinda Gates has consistently spoken about raising their three children—Jennifer, Rory, and Phoebe—with a strong emphasis on modesty.
In a 2024 interview with The New York Times, Melinda Gates said, “We absolutely did not just buy them things,” explaining that while their children received allowances, they were taught to save and avoid extravagant spending. “I vowed that if I ever had resources, those were not the kind of children I wanted to raise,” she added, recalling her own experiences during university.
The Gates family’s story reveals the delicate balance between providing opportunities and instilling values—an ongoing theme even as their children step into the world of business and entrepreneurship.
