Billionaire entrepreneur Mark Cuban on Tuesday defended paying workers higher wages, citing his experience building his first company after criticism over his support for a $20 federal minimum wage.

Cuban Says Higher Pay Builds Stronger Companies

Cuban’s remarks followed criticism from Monetary Metals CEO Keith Weiner, in an X post, who said that the investor’s experience paying workers well did not support government-mandated minimum wages.

In response, Cuban recounted how he started his first company after getting fired and nearly lost the business when one employee stole $82,000 of the company’s $84,000 bank balance.

I started my first company after getting fired. With no money. When I got to 4 people, one of them stole 82 of the 84k we had in the bank. We had to set up payment plans.

I still paid everyone enough , and gave them stock so they out of 86 employees we had when I sold , only…

— Mark Cuban (@mcuban) July 7, 2026

Despite the setback, he said he continued paying employees well and granted them equity.

“When I sold, employees got almost as much as I did,” Cuban said, adding that he learned from his experience.

Cuban also added that some employers are “greedy or ethically challenged” and pay workers “the bare minimum,” leaving people unable to afford basic living expenses.

“The law is to protect those people they employ,” he added.

Cuban’s $20 Minimum Wage Push

In June, the billionaire investor reiterated his support for a $20 federal minimum wage after learning employees at a company he invested in relied on government assistance.

Cuban said it was “embarrassing” that workers needed public assistance despite being employed, adding that he made sure they received raises.

He also rejected “trickle-down” economics, instead backing what he called “trickle up,” saying higher wages and employee ownership help workers build long-term wealth.

Minimum Wage Laws Hurt Low-Wage Workers

Weiner said that it would not be smart to set a minimum price by law, adding that “it can only unemploy everybody whose productivity is below Mark’s magic number.”

Weiner praised his entrepreneurial success but maintained that mandated minimum wages force lower-productivity workers out of the labor market rather than protecting them.

“This is simply mechanics, you cannot change it by alleging employers are greedy,” Weiner added.

Yours is an amazing story, and you inspire the next generation of entrepreneurs.

Govt mandated min wage doesn't protect people who produce less than that. It forces them to be unemployed.

This is simply mechanics, you cannot change it by alleging employers are greedy.

— Keith Weiner (@RealKeithWeiner) July 7, 2026

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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