Facebook founder Mark Zuckerberg lost $7.2 billion in a day because some large companies refused to advertise, Bloomberg reported June 27.
The company’s shares fell 8.3 percent the day before, after Unilever (one of the largest advertisers) said it would not spend money posting all Facebook products this year. In addition, Unilever ads will not be on Twitter.
The company explained that the placement on these platforms “will not bring benefits to people and society.” They added that the decision was made in connection with the “polarized atmosphere in the United States.” “Difficulties with the current cultural landscape have placed brands with a new responsibility for learning, reacting and acting to create a reliable and secure digital ecosystem,” the statement said. The company adds that “there is still much to be done”, especially with regard to “disagreements and incitement to hatred during this polarized US election period”.