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Key Takeaways Mark Cuban has a net worth of $10.2 billion.
In a recent interview, Cuban encouraged companies to do what he did at his previous companies and give equity to “every single employee.”
Cuban says he has paid workers after every major sale he’s been part of — including a deal that turned around 300 employees into millionaires.
Billionaire entrepreneur Mark Cuban, who had a net worth of $10.2 billion at the time of writing, says all firms should address income inequality by awarding workers company stock.
On a recent episode of the What It Takes podcast, Cuban argued that every employee, from the janitor to the CEO, deserves a stake in the company they work for.
“I would like to see it so that every single CEO/founder/entrepreneur does what I did, which was to give equity to every single employee,” Cuban said.
Cuban helped launch Broadcast.com, an early internet streaming company that he eventually sold to Yahoo in 1999 for $4.8 billion. Over the years, he’s been vocal about his belief that employees should directly benefit from a company’s success. In line with that philosophy, Cuban said he has paid out bonuses after every major sale he’s been part of — including the Broadcast.com deal, which reportedly turned around 300 employees into millionaires overnight.
On the podcast, Cuban explained that sharing equity is the best way to tackle wealth inequality because employees have a direct stake in the business. When the company they work for succeeds, they immediately benefit.
“The way you’re going to reduce income inequality for anybody who works with somebody is making sure they get shares of stock, and then they benefit,” Cuban said.
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