Mark Zuckerberg Loses $7 Billion as Companies Boycott Facebook Ads [View all]
Mark Zuckerberg just became $7.2 billion poorer after a flurry of companies pulled advertising from Facebook Inc.’s 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 boycotting ads on the social network. Unilever said it would stop spending money with Facebook’s properties this year.
Companies from Verizon Communications Inc. to Hershey Co. have also stopped social media ads after critics said that Facebook has failed to sufficiently police hate speech and disinformation on the platform. Coca-Cola Co. said it would pause all paid advertising on all social media platforms for at least 30 days.
https://www.msn.com/en-us/money/companies/mark-zuckerberg-loses-dollar7-billion-as-companies-boycott-facebook-ads/ar-BB161IMu?ocid=msedgntp
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