ZUCKERBERG LOSES $7 BILLION

Mark Zuckerberg just became $7.2 billion poorer after a flurry of companies pulled advertising from Facebook Inc.’s network. 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.

SANFRANCISCO: Mark Zuckerberg just became $7.2 billion poorer after a flurry of companies pulled ads from Facebook’s network.

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.

Critics said that Facebook has failed to sufficiently police hate speech and disinformation on the platform. Coca-Cola said it would pause all paid advertising on all social media platforms for at least 30 days.

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.

Zuckerberg responded to criticism by announcing the company would label all voting-related posts with a link encouraging users to look at its new voter information hub.

“There are no exceptions for politicians in any of the policies I’m announcing here today,” he said.