Completely false. If I start a company spending $5 in capital and issue ten shares worth 50 cents each, and later on my revenue from that company reaches $10 through my labor (or the labor of the employees I paid), then the valuation of the company is at least $10 (certainly more) and money has been created because those ten shares are worth more.

Unlike central bank printing or even loan creation, this method of wealth creation is not zero-sum and not inflationary.