According to the Bloomberg report: 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.
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.
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.
Folks, what you put on Facebook, what you say on Facebook is going to impact your business or your public image. It has consequences.
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