Zuckerberg lost $7 billion as multiple companies boycotted Facebook ads.
Mark Zuckerberg just became $7.2 billion poorer after a flurry of companies pulled advertising from Facebook Inc.’s network. Mark Elliott Zuckerberg.Born in Baiyuan, N.Y., he is the founder, chairman and chief executive of Facebook, a well-known social networking site, and a software designer. Facebook was co-founded in 2004 by his Harvard classmates Dustin Moskowitz, Eduardo Saverin and Chris Schulz, known as Facebook's god. Shares of the social media company fell 8.3% on Friday, the most in three months, after Unilever, one of the world’s largest advertisers, joined other brands in boycotting ads on the social network. Unilever said it would stop spending money with Facebook’s properties this year. Unilever.A uk-Dutch multinational consumer goods company, formed by the merger of United McIlroy and the British Lihua Brothers, with headquarters in Rotterdam, the Netherlands, and London, England. Its products include food, beverages, detergents and personal care products. In 2012, it is the world's third-largest consumer goods company, after Baoyuan and Nestle. Unilever is the world's largest producer of smudged foods, such as margarine. The share-price drop eliminated $56 billion from Facebook’s market value and pushed Zuckerberg’s net worth down to $82.3 billion, according to the Bloomberg Billionaires Index. That also moved the Facebook chief executive officer down one notch（Grade.） to fourth place, overtaken by Louis Vuitton boss Bernard Arnault, who was elevated to one of the world’s three richest people along with Jeff Bezos and Bill Gates. Bernard Arnault was born in Lube.The French businessman, chairman and CEO of the top luxury goods company, the Louis Vuitton Group, owns 51%. In December 2011, it transferred a 31 per cent stake in its personally controlled Arnault Group to its Belgian company, Pilinvest, with a total value of ?5.5 billion. Arnault Group is the holding company of LV. Companies from Verizon Communications Inc. to Hershey Co. have also stopped social media ads after critics said that Facebook has failed to sufficiently police hate speech and disinformation on the platform. Coca-Cola Co. said it would pause all paid advertising on all social media platforms for at least 30 days. Verizon Communications., is a major U.S. telecommunications company, the world's leading broadband and telecommunications service provider, and is part of the Dow Jones 30 Industrial Average. Headquartered in New York City, the company operates voice calls, fixed broadband and wireless communications. Verizon Wireless is the largest wireless communications service provider in the United States. Well, generally known as Hershey's.is one of the largest chocolate manufacturers in North America, headquartered in Hershey, Pennsylvania. Founded in 1894 by Milton S. Hershey in the name of hershey Chocolate Company, the company is a subsidiary of the Lancaster Caramel Company. Today, its products are marketed in more than 60 countries around the world. Zuckerberg responded Friday to the growing criticism about misinformation on the site, announcing the company would label all voting-related posts with a link encouraging users to look at its new voter information hub. Facebook also expanded its definition of prohibited hate speech, adding a clause(Terms) saying no ads will be allowed if they label another demographic as dangerous. “There are no exceptions for politicians in any of the policies I’m announcing here today,” Zuckerberg said. https://adage.com/article/news/zuckerberg-loses-7-billion-firms-boycott-facebook-ads/2264576
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