Mark Zuckerberg has $7 billion wiped off his fortune as Coca-Cola halts all social media advertising for 30 days

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• Facebook's share price sank 8% on Friday, wiping an estimated $7 billion off CEO Mark Zuckerberg's fortune.
• The social media giant is facing financial pressure as major consumer companies, including Unilever, Coca-Cola, Ben & Jerry's, and many others pause their ad spend in protest at the way the firm moderates hate speech.
• Coca-Cola is the latest major brand to join the ad boycott, with CEO James Quincey stating the drinks firm would pause all paid ads on social media for 30 days.
• Visit Business Insider's homepage for more stories.

A boycott of Facebook by major advertisers is hammering the social media giant's stock price and chief executive Mark Zuckerberg's personal fortune.

Zuckerberg's net wealth is down by $7.21 billion as of Saturday, while Facebook's share price dropped more than 8% at the close of Friday trading, as the ad boycott snowballs.

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See Also:

• All of the companies no longer advertising on Facebook due to the platform's lack of hate speech moderation
• Ben & Jerry's just joined the growing list of advertisers boycotting Facebook over the platform's lack of hate speech moderation
• How to tell if someone has muted you on Instagram, so that your posts won't appear in their feed

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