Facebook CEO Mark Zuckerberg has lost at least $7.2 billion, according to Bloomberg's billionaire index.
Zuckerberg is now placed number four on the index, preceded by Amazon CEO Jeff Bezos, Microsoft founder Bill Gates and Luis Vuitton CEO Bernard Arnault as the world's richest people.
Multiple companies now, including Unilever and The North Face, are pulling their ads from Facebook and Twitter as part of the #StopHate4Profit campaign, initiated by the US National Association for the Advancement of Colored People and other minority rights groups. They say Facebook is not doing enough to stop hate speech online.
We have taken the decision to stop advertising on @Facebook, @Instagram & @Twitter in the US.— Unilever #StaySafe (@Unilever) June 26, 2020
The polarized atmosphere places an increased responsibility on brands to build a trusted & safe digital ecosystem. Our action starts now until the end of 2020.https://t.co/flHhKid6jD pic.twitter.com/QdzbH2k3wx
On Friday, Zuckerberg announced his social media platform will ban hateful content in ads as well as label newsworthy posts that are violating the rules company's rules to better protect immigrants, migrants, refugees, and asylum seekers from discriminatory ads.