Note that the Founding States made the 10th Amendment (10A) to clarify that the Constitution’s silence about things like miminum wage means that such issues are automatically and uniquely state power issues, no business of the federal government’s. So there’s nothing stopping this billionaire from using his influence to successfully campaign a $16 minimum wage in Washington State.
However, there is nothing in the Constitution stopping the states from shooting their feet off as a consequence of foolish use of 10A-protected state powers. So I suppose that the other states can always remove a star from the flag if this billionaire sinks Washington State with his minimum wage idea.
I don’t believe any level of government has the right to set wages or prices.
Does not the Contract Clause kick in as well (between employer and employee, some measure of ‘goods’ in exchange for ‘labor’)
IMHO, the State has no authority as well.