The Bloomberg Billionaires Index now estimates he's worth $82.3 billion and is the fourth richest person after Amazon.com Inc.'s Jeff Bezos, Microsoft Corp.co-founder Bill Gates and LVMH Moet Hennessy titan Bernard Arnault. Twitter shares sank 7.40 percent by the end of the trading day.
Amid an intense national debate over racism and frequent eruptions of ugly, hate-filled speech on social media, Starbucks announced a pause on social media advertising in order to determine how to "stop the spread of hate speech". "We will be monitoring ongoing and will revisit our current position if necessary".
Beer and spirits company Diageo is pressing pause on paid advertising on major social media platforms globally beginning 1 July, amidst a series of recent Facebook ad boycotts that include companies such as Coca-Cola and Unilever. And while most of the 184 companies on the boycott * a href="https://docs.google.com/spreadsheets/d/1VSGhDwXm18yFf2BVCz0QJYFjCHrPhDuO-m5rCo0zoqI/htmlview?pru=AAABcyPgxSs*T6wcjzjzSikohiDqdkSuyA#gid=0" *list as of Monday morning are not large, it would "likely take tens of thousands of [smaller advertisers], acting over a significant period of time, to put a big dent in Facebook's bottom line", noted CNN Business' Brian Fung.
Coca-Cola said it would pause all paid advertising on all social media platforms for at least 30 days.
Speaking to Reuters, James Steyer, CEO of the San Francisco-based non-profit, said "the next frontier" following the successful lobbying of corporations in the U.S. is "global pressure", with major European and Asian companies including Unilever and Honda to be pressed to freeze their Facebook ads globally, not just those running in the US.
The chain issued an apology, made clear that its policy going forward would not allow a repeat of the Philadelphia incident, and closed its more than 8,000 company-operated U.S. stores to allow employees to receive racial-diversity training. "We're a tiny fish in a massive ocean, but we're happy to be joining the boycott", he wrote.
During the Q&A with employees, Mr Zuckerberg went a step further.
"We ask that Facebook strengthen their content-moderation policies and enforce them consistently", MEC said in a statement emailed to The Canadian Press.
Zuckerberg responded Friday to the growing criticism about misinformation on the site, announcing the company would label all voting-related posts with a link encouraging users to look at its new voter information hub.
Those rules give Facebook cover to take action without making a decision on the nature of the content.
Also, Facebook will do more to protect immigrants, migrants, refugees, and asylum-seekers from ads that suggest they are inferior to other groups of people or from ads that express contempt, dismissal or disgust directed at them.
While the focus on advertising shifts attention away from his controversial decision to allow an inflammatory post from U.S. president Donald Trump and became the root of the most recent widespread backlash against Facebook, Zuckerberg also outlined a new process for dealing with "newsworthy" content that may be controversial.