Can the minimum wage be “loopholed” by this

Let's say i'm running a start-up company where I initially hire a few workers that I know personally and would live in the same house to cut down on living costs. However, they work long hours for less than minimum wage to save money to grow the business and eventually get rich by saving human resource costs for the first few years.

Would it be legal for them to work less than minimum wage if they agree to it? Could it be loopholed if they're paid minimum wage, and they pack back some of the money they earned to the company, which then goes towards growing the company?

Or is this not possible, and must they earn a minimum wage and would not be allowed to give back part of their wage to the business, even if it is voluntary?

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