Mark Zuckerberg just became $7.2 billion poorer after series of popular companies pulled their advertising from Facebook network.

Shares of the social media company fell 8.3% on Friday, the most in three months, after Unilever, one of the world’s largest advertisers, joined other brands in limiting ads on the social network. Unilever they would stop definitely stop spending money with Facebook’s properties this year.



The share-price drop eliminated $56 billion from Facebook’s market value and pushed Zuckerberg’s net worth down to $82.3 billion, according to the Bloomberg Billionaires Index. That also moved the Facebook chief executive officer down one notch to fourth place, overtaken by Louis Vuitton boss Bernard Arnault, who was elevated to one of the world’s three richest people along with Jeff Bezos and Bill Gates.

Companies from Verizon Communications Inc. to Hershey Co. also have stopped social media ads after critics said that Facebook has failed to sufficiently police hate speech and disinformation on the platform. Coca-Cola Company also said it would pause all paid advertising on all social media platforms for at least 30 days.

Zuckerberg responded Friday to the growing criticism about misinformation on the site, announcing the company would label all voting-related posts with a link encouraging users to look at its new voter information hub. Facebook also expanded its definition of prohibited hate speech, adding a clause saying no adverts will be allowed if they label another demographic as dangerous.

More information @ https://parrotbae..com/2020/06/facebook-boss-no-longer-third-richest-person.html?m=1

Anaghị akwụ ná line akpata ego

For sure.... One day I think this man will be number one... He has worked so hard for it....



I saw an old magazine paper that listed the 100 richest people... Then this my gee was in 46 I think and Dangote a step in front of him.... Now he is richer than Dangote....