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Zuckerberg Lost $7 Billion Due To The Boycott Of Advertising Companies In Social Networks Facebook

Zuckerberg Lost $7 Billion Due To The Boycott Of Advertising Companies In Social Networks Facebook

Facebook CEO Mark Zuckerberg lost about $7.2 billion after several firms suspended advertising on the social media platforms Facebook, Instagram, and Twitter, which are part of the company, according to Bloomberg.

Earlier, major corporations such as Coca-Cola, Verizon, Unilever, and other businesses announced the suspension of advertising on Facebook and other popular social networks, as the latter's management allegedly does not take sufficient measures to delete messages of a racist nature and misleading information. The action was supported by influential American human rights organizations.

After Unilever boycotted advertising on Facebook social media platforms, the company's shares fell by 8.3%, the Agency writes. According to the ranking of billionaires Bloomberg, the total value of the assets of Zuckerberg fell by $7,21 billion and now stands at $82.3 billion, which allowed the Director-General of the French group LVMH (Louis Vuitton Moet Hennessy) Bernard Arnault to oust the owner from the first three billionaires, which also includes CEO Jeff Bezos's Amazon and one of the founders of Microsoft, Bill Gates.

Amid growing dissatisfaction with the Corporation's policies, Zuckerberg said on Friday that the Facebook administration does not intend to make any exceptions to the rules of the social network for messages that are published by political figures in it. In addition, the Corporation intends to delete any messages that call for violence or refuse to participate in voting.

In the US, in recent weeks, special attention has been paid to the fight against racism. One of the reasons for this was the death of an African-American man, George Floyd, in Minneapolis. The guards used a chokehold during his arrest on May 25. Shortly after, the African-American man died in the hospital. After Floyd's death, protests against the infringement of the rights of blacks began in several States, there were clashes with the police, numerous cases of looting and vandalism.

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