Facebook boss Mark Zuckerberg has become more than 6 billion euros ‘poorer’ as more and more large advertisers are turning away from the social media platform. Zuckerberg disappears from the top three of the richest in the world.
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Zuckerberg’s company is not doing enough to prevent racist and hateful messages on the social networking sites of Facebook and Instagram, say a growing group of advertisers. These are large and well-known companies such as Coca-Cola, Patagonia, Ben & Jerry’s.
As a result, Facebook’s share has plummeted in recent days. On Friday it lost 8.3 percent, the biggest loss in three months. The immediate reason for this fall in prices was the decision by Unilever, one of the largest advertisers in the world, to join the boycott of advertisements on the network. Unilever announced that it would stop advertising on Facebook this year.
Zuckerberg tried to save the furniture and announced on Friday evening that stricter advertising campaigns will now be carried out that have a racist or discriminatory undertone, but the worst harm has already been done. The fall in the stock price evaporated $ 56 billion of Facebook’s market value, which also caused Zuckerberg’s personal assets to drop to $ 82.3 billion, according to the economic news agency Bloomberg.
As a result, the CEO of Facebook drops a position on Bloomberg’s list of the world’s richest people. Zuckerberg was overtaken by LVMH CEO and richest European Bernard Arnault, who now takes the top three together with Jeff Bezos and Bill Gates.
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