Mark Zuckerberg loses US$7bil as companies boycott Facebook ads

The share-price drop eliminated US$56bil (RM240.07bil) from Facebook’s market value and pushed Zuckerberg’s net worth down to US$82.3bil (RM352.82bil) according to the Bloomberg Billionaires Index. — AFP

Mark Zuckerberg just became US$7.2bil (RM30.86bil) poorer after a flurry of companies pulled advertising from Facebook Inc’s network.

Shares of the social media company fell 8.3% on June 26, 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.