Mark Cuban: Workers paid by the hour will 'always...fall behind,' making wealth inequality worse (via CNBCMakeIt)
Mark Cuban, chairman and chief executive officer of Axs TV, speaks during the Skybridge Alternatives conference in Las Vegas, Nevada, U.S., on Thursday, May 9, 2019. SALT brings together investors, policy experts, politicians and business leaders to network and share ideas to unlock growth opportunities in finance, economics, entrepreneurship, public policy, technology and philanthropy.
"The biggest issue for entrepreneurs, for capitalists, for those of us who are successful is, if someone is only going to be paid by the hour...they're always going to fall behind," Cuban toldwith Kara Swisher at the 2019 SALT Conference in Las Vegas. "And income distribution is … [the] disparity is going to get wider and wider."
So, said Cuban, "We as entrepreneurs have got to make a point to give stock to everybody that works for us. Period. End of story. No exceptions, because that's the only way people are going to get any type of equity appreciation." If entrepreneurs give their employees an ownership stake in the company, then employees can reap the benefits of its success as the value of the stake grows, said Cuban, often substantially.
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