Elon Musk and Mark Cuban engaged in a public clash on Wednesday over the significance of diversity, equity, and inclusion (DEI) programs in US companies, sparked by the resignation of Harvard's first Black president, Claudine Gay.

Musk, the world's wealthiest individual and head of Tesla, SpaceX, and X (formerly Twitter), labeled DEI as "just another word for racism" in a social media post, provoking a debate on the merits of such initiatives.

Cuban, the entrepreneur and investor known for owning the Dallas Mavericks NBA team, refuted Musk's stance, asserting that DEI programs are beneficial for businesses. In a series of posts, Cuban emphasized the advantages of diversity, including finding the best talent, maximizing employee potential, and enhancing productivity by reducing stress.

"Good businesses look where others don't," stated Cuban, highlighting the importance of considering individuals from various backgrounds in hiring decisions. He disagreed with Musk's assertion that DEI is equivalent to racism, stating, "By extending our hiring search to include them, we can find people that are more qualified. The loss of DEI-phobic companies is my gain."

Musk, responding to an essay by Harvard donor and hedge fund tycoon Bill Ackman, criticized the term DEI, stating, "Shame on anyone who uses" it. He contended that DEI involves discrimination based on race, which he defined as racism.

Cuban continued to emphasize the positive impact of DEI, stating that equity is a core principle of business. He elaborated on the importance of recognizing and leveraging employees' differences to create an inclusive environment where everyone feels comfortable.

The debate between Musk and Cuban extended with Musk questioning when the Dallas Mavericks would feature a short white/Asian woman, to which Ackman joined in, urging Cuban to reevaluate his stance on DEI.

The exchange reflects differing perspectives among influential figures on the role and effectiveness of diversity initiatives within organizations.