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Mark Zuckerberg saw his fortune of more than $ 7 billion melt away because several companies, including Unilever and Coca-Cola, decided to suspend their advertising investments on Facebook, reports Bloomberg.
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Facebook founder Mark Zuckerberg lost nearly $ 7.2 billion in one day after several companies decided to stop using the social media to advertise until further notice, Bloomberg said.
Shares in the company fell 8.3% on June 26 when giant Unilever said it would stop spending money on advertising Facebook products, including Instagram, until the end of the year. ‘year.
The move dropped Mark Zuckerberg’s fortune to $ 82.3 billion, according to the Bloomberg Billionaires Index, and moved Facebook CEO to fourth place on the list of the world’s richest people, behind Bernard Arnault, Jeff Bezos and Bill Gates.
“No place for racism”
Several companies have suspended the broadcasting of their advertising spots on the social network, judging that Facebook had not sufficiently controlled hate speech and disinformation on the platform in the context of the wave of demonstrations which swept through many cities, above all after the death of the African-American George Floyd during a muscular arrest.
Another giant in the food industry, Coca-Cola, which invests large sums in advertising, also announced on June 26 that it would suspend all promotion on all social networks for at least 30 days because “There is no room for racism”.
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