Mark Zuckerberg loses $7 billion as companies boycott facebook ads


US companies have pulled advertising from Facebook Inc in support of a campaign that called out the social media giant for not doing enough to stop hate speech on its platforms.


The Stop Hate for Profit campaign was started by several US civil rights groups after the death of African-American George Floyd in police custody triggered widespread protests against racial discrimination in the United States.


Shares of Facebook fell 8.3% on Friday, the most in three months, after Unilever joined other brands in boycotting ads on Facebook.The share-price drop eliminated $56 billion from Facebook’s market value and pushed Zuckerberg’s net worth down to $82.3 billion

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