'I'm A Nepo Baby' – Phoebe Gates Opens Up On Privilege, Pressure, And Her Billionaire Dad's College Warning

Phoebe Gates isn’t shying away from the “Nepo Baby” conversation — she’s walking straight into it with a mic in hand. On April 1, the 21-year-old daughter of Bill Gates and Melinda French Gates debuted her podcast, “The Burnouts.” She used the first episode to dive headfirst into what it means to be born into privilege while still trying to forge her own path.

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From Stanford Stress To Startup Hustle

Speaking with her co-host Sophia Kianni during the premiere, Phoebe reflected on her insecurities while entering Stanford University as the daughter of a billionaire. “I came in, I was like, ‘I’m so privileged, I’m a Nepo Baby,'” she said during the episode. “I had so much insecurity around that; you have no experience. You have nothing.”

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Phoebe graduated early from Stanford in June 2024 with a Bachelor of Science in human biology, just in time to see her mom deliver the school’s commencement speech — a goal she told NYLON in a June interview was personally meaningful.

Phoebe also discussed the irony of her father’s influence on her college journey. “They were very much like, ‘You need to finish your degree; you don’t just get to like drop out and do a company,'” she recalled, referencing advice from both parents. 

“Which is so funny because my dad literally did that, and that’s the reason I’m able to go to Stanford or have my tuition paid,” she added during the podcast. Her father famously dropped out of Harvard in the 1970s to launch Microsoft.

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Launching Her Own Thing, On Her Own Terms

Phoebe and Kianni are cofounders of Phia, a digital fashion startup. The company aims to make online shopping more interactive, focusing on resale and sustainable fashion. 

While still in pre-launch, the platform has already partnered with Stella McCartney to co-design a bag collection celebrating the Women’s Tennis Association, Vogue reported in August 2023.

The startup is billed as “the future of fashion” on its website, although full product details have yet to be revealed.

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Billionaire Dad, Less-than-1% Inheritance

During a March 29 appearance on the “Figuring Out With Raj Shamani” podcast, Bill explained why his three children won’t inherit much of his $158 billion fortune. 

“My kids got a great upbringing and education but… less than 1% of the total wealth,” he said. “It’s not a dynasty. I want to give them a chance to have their own earnings and success.”

This plan echoes previous public remarks by Bill, who ranks fifth on the Bloomberg Billionaires Index as of April 17.

“I’m not asking them to run Microsoft. You know, be significant and not be overshadowed by the incredible luck and good fortune I had.” Gates said in the podcast. This is a stance he’s repeated across multiple interviews.

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