Mark Cuban Says There Are Some ‘Greedy Blood-Sucking Business People That Will Do Anything for a Dollar’ But ‘Eat the Rich’ Only Helps Politicians

“Eat the rich” is a catchy slogan. Mark Cuban thinks it’s a lousy solution.

In a June 20 post on X, the billionaire entrepreneur took aim at what he sees as a growing tendency to lump every successful business owner into the same category. Yes, he wrote, there are “greedy, blood-sucking business people” who will do almost anything for a dollar. But he argues they’re the exception, not the rule.

More importantly, Cuban believes the anger is often aimed at the wrong people.

“Saying ‘Eat the rich’ will end up helping no one except maybe politicians trying to raise money,” Cuban wrote. “And probably hurt those in need.”

The Entrepreneur Everyone Forgets

When discussions about wealth turn heated, Cuban says one group often disappears from the conversation: The people who took a chance and lost. “What about all the entrepreneurs that risked everything and failed?” he asked on X.

Not every founder becomes a billionaire. Most never come close.

Some empty their savings accounts. Some take on debt. Some spend years trying to build a business only to watch it collapse.

Cuban also pointed to the entrepreneurs still fighting to make it. “Or the ones that are grinding it out, trying to build a business?” he wrote.

According to Mark Cuban, those efforts matter because entrepreneurs create more than 60% of new jobs in the United States.

A Billionaire Who Doesn’t Believe in Trickle-Down

Mark Cuban’s post wasn’t a defense of every wealthy person or every corporate decision. In fact, he rejected one of the most common labels often attached to pro-business arguments. “I’m not a believer in trickle down,” he wrote. “It’s a joke.”

Instead, Cuban described himself as a believer in “trickle up.”

“I am a believer in trickle up. Where we do all we can […] to get appreciable assets and higher wages into the hands of people who have to live paycheck to paycheck.” He pointed to one experience that shaped that view.

“When I heard people who worked for a company I invested in (but didn’t run) needed government assistance, I made sure they all got raises,” Cuban wrote. “It was embarrassing to me that we didn’t pay enough.”

Cuban added that he supports raising the federal minimum wage to $20 an hour.

That would be a dramatic jump from today’s federal minimum wage of $7.25 per hour, which hasn’t increased since July 2009. While dozens of states, cities and counties have adopted higher minimum wages over the years, the federal rate has remained unchanged for nearly 17 years. In fact, 20 states still use the federal minimum as their baseline wage, while others have pushed minimum pay well above $15 an hour.

The Difference Between Criticism and Demonization

Cuban acknowledged that some business leaders deserve criticism. “I’m not saying there aren’t greedy, blood-sucking business people that will do anything for a dollar,” he wrote.

But he argued that turning a handful of examples into a broad indictment of entrepreneurs misses the bigger picture.

Most founders aren’t spending their days figuring out how to squeeze every last dollar out of customers or employees, he said. They’re trying to build companies, create jobs, and solve problems.

“Most entrepreneurs realize they are blessed,” Cuban wrote. “They want to find ways to help.”

He added that entrepreneurs can hire more workers, raise wages, educate employees, and invest in new opportunities.

Why Investors Pay Attention

For investors, Cuban’s argument comes down to a simple question: What encourages more people to take risks?

Successful entrepreneurs often reinvest in startups, back other founders, and fund new ideas. Those investments can grow into the next generation of businesses, jobs, and innovations.

“Take their money so they can’t invest in other founders?” Cuban asked.

After decades as an entrepreneur and investor, Cuban said he has seen those ripple effects firsthand. “I’ve made, or [have] helped make, at least a thousand millionaires,” he wrote. “And I’ll keep working to increase that number.”

Cuban's final message wasn’t about protecting the wealthy. It was about protecting the incentives that encourage people to build.

“Demonizing those that have success is counterproductive to every benefit you want to help bring to people,” he wrote.