“I own or invest in hundreds of companies. I know DEI is positive because I see its impact on the bottom line. This has been reiterated by many CEOs,” Cuban said. wrote on X, formerly Twitter, Tuesday.
The billionaire entrepreneur responded to Criticisms by right-wing activist Christopher Rufo and controversial Canadian podcaster Jordan Peterson. Rufo and Peterson had chastised Cuban for his support of DEI practices.
But Cuba was having none of it.
“I am an entrepreneur and a capitalist. I look for results. That’s what I base my decisions on,” Cuban said in his message. “Everyone on Twitter might disagree with me. I would still follow the results I see in my portfolio.”
The businessman also shot Rufo and Peterson.
“Christopher and Jordan, you run your business, build community, and sell products to it,” Cuban wrote, referring to the conservative audience from which both men draw their support.
“I respect your efforts. I may vehemently disagree with your positions, but I respect the meaning of entrepreneurship and always will. But Twitter does not reflect the real world,” Cuban added.
First of all, my arguments are not abstract.
I own or invest in hundreds of companies. I know DEI is positive because I see its impact on the bottom line. This has been reiterated by many CEOs.
My definitions of D, E and I are not theoretical. They are actually used. Are yours… https://t.co/nCJBcwQ6RQ
– Mark Cuban (@mcuban) April 2, 2024
Cuban told BI that while other factors besides DEI can contribute to a company’s success, diversity initiatives remain a net positive for companies.
“To suggest that DEI is negative is to call the CEOs of every Fortune 500 company stupid. How many don’t have DEI programs?” Cuban told BI.
This is not the first time that Cuba expressed support for the DEIa subject that is becoming a point of contention for some of America’s top leaders.
Last January, Cuban took to X to denounce Elon Musk’s criticism of the practice. In response, Musk – who once said he thought DEI was “just another word for racism“—accuses Cuban of being a hypocrite”desperately trying to signal his “virtue”.“
“You may not agree, but I take it for granted that there are people of different races, ethnicities, orientations, etc. who are routinely excluded from employment requirements,” Cuban told Musk in January.
“By expanding our hiring search to include them, we can find more qualified people. DEI-Phob companies’ loss is my gain,” he added.
In March, Cuban told podcaster Lex Fridman that “it’s fun to engage” with Musk on diversity initiatives.
“When we start talking about DEI and how it’s de facto racist — this stuff that I consider nonsense — I have no problem sharing my opinion,” Cuban told Fridman.
businessinsider
