FACEBOOK_ Mark Zuckerberg loses $7.2B over major advertising boycotts on Facebook

NEW YORK POST

BUSINESS

Mark Zuckerberg loses $7.2B over major advertising boycotts on Facebook

By Isabel Vincent
June 27, 2020 | 10:36am



Mark Zuckerberg
AP


Billionaire Mark Zuckerberg took a $7.2 billion hit after several companies pulled their advertising from Facebook, citing the company’s failure to police hate speech and disinformation on its site.

The company’s shares fell 8.3 percent Friday, the most in three months after Unilever, one of the world’s largest advertisers said it would stop selling its products on Facebook, Bloomberg reported. The company joined other large firms such as Verizon Communications, Hershey Co. and Honda in pulling their ads from the social media giant. Coca Cola said it would suspend its advertising on all social media platforms for at least a month.

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READ MORE: https://nypost.com/2020/06/27/mark-zuckerberg-loses-7-2b-over-ad-boycotts-on-facebook/


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