Facebook founder loses $ 7.2 billion in a week … that’s why

Billionaire Mark Zuckerberg lost about $ 7.2 billion after a series of companies withdrew ads from the Facebook network.

The company’s shares fell 8.3% on Friday, the biggest daily decline in three months, after Unilever, one of the world’s largest advertisers, joined other brands in boycotting ads on the social network.

The loss of billionaire Mark Zuckerberg to fall from third to fourth on the Bloomberg billionaires index globally.

Unilever said it would stop spending money on Facebook ads this year.

The drop in the share price excluded $ 56 billion from Facebook’s market value and pushed Zuckerberg’s net worth to $ 82.3 billion, according to the Bloomberg Billionaires Index.

The French Louis Vuitton fashion and luxury accessories, American Verizon Communications, British consumer products Unilever and Japan’s Honda Motor Company put their ads on Facebook after critics said that Facebook failed to monitor hate speech and misinformation on its platforms.

The Coca-Cola Company said that it will pause all paid ads on all social media platforms for at least 30 days.

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