Advertisers including Verizon, Honda, and Ben & Jerry’s are boycotting Facebook over the social network’s lack of hate-speech moderation. The boycott is sinking both Facebook’s share price and CEO Mark Zuckerberg’s net worth.
Zuckerberg has a net worth of $82.3 billion, making him the fourth-richest person in the world.
Zuckerberg drives an affordable car and wears basic clothes, but appears to splurge on real estate, buying houses and then buying the surrounding properties for privacy.
Zuckerberg and his wife Priscilla Chan are generous philanthropists, investing billions in childhood education and medical research that they hope will cure all diseases in their children’s lifetimes.
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Mark Zuckerberg is a few billion dollars less rich as Facebook’s advertiser boycott continues to grow.
Zuckerberg has faced fierce criticism for refusing to moderate Facebook posts in which President Trump called civil rights protesters “thugs” and suggested violence when he wrote, “when the looting starts, the shooting starts” in the wake of George Floyd’s death at the hands of Minneapolis police officers.
As a result, civil rights organizations including NAACP, Color of Change, and Anti-Defamation League asked advertisers to stop paying for advertisements on Facebook. Many agreed, sending both Facebook’s share price and Zuckerberg’s net worth into a freefall. (Zuckerberg’s net worth peaked at $91.9 billion on June 23, according to Bloomberg; as of market close on June 28, the publication pegged his new estimated net worth at $82.3 billion.)
Keep reading to learn more about how the Facebook cofounder makes and spends his multibillion-dollar fortune.
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Source:: Business Insider