For a man reportedly worth more than $10 billion, entrepreneur Mark Cuban spends a lot of time talking about wealth inequality—and how to distribute it more evenly.
The Shark Tank star has long shared suggestions—and has enacted his plans—to better balance income throughout the U.S. economy. One of Cuban’s ideas was to give employees company stock: He told a recent episode of the What It Takes podcast that he awarded 330 employees at his media company, Broadcast.com, stock ahead of Yahoo’s $5.7 billion acquisition of the company in 1999. Three hundred of those employees became millionaires as a result, he said.
Cuban also awarded equity and cash bonuses to employees of his first IT consulting company, MicroSolutions.
But the famed investor has now taken the suggestion a step further: If founders and CEOs don’t seek to share the wealth generated by their companies with their employees, they should be forced to give back to society by paying higher corporate taxes.
