Zuckerberg Loses 8 Trillion Won in One Day... The Cost of Keeping Trump's Post

Facebook Market Cap Drops by 67 Trillion Won
Impact of Major Corporations' Advertising Boycott

Mark Zuckerberg, CEO of Facebook (Photo by EPA)

[Asia Economy Reporter Seongpil Cho] Mark Zuckerberg, CEO of Facebook, lost 8 trillion won in wealth in just one day. This happened after he decided not to intervene in posts related to U.S. President Donald Trump's anti-racism protests, which led to a boycott of advertisements by major corporations.

According to major foreign media, Facebook's stock price fell 8.3% on the 26th (local time), the largest drop in the past three months, wiping out $56 billion (approximately 67.2 trillion won) in market capitalization, the report said.

As a result, Zuckerberg's wealth, who holds Facebook shares, also evaporated by $7.2 billion (8.6 trillion won) that day, reducing his total wealth to $82.3 billion (98.7 trillion won).

This plunge is analyzed to have been caused by the adverse effect of major global companies consecutively declaring that they would stop advertising on Facebook.

When Facebook insisted on the position of "allowing as much expression as possible" regarding President Trump's posts criticizing the anti-racism protests, major advertisers including Unilever, one of the world's largest advertisers, U.S. telecom company Verizon, and clothing company The North Face joined the advertising boycott.

Zuckerberg took a step back and announced that posts by politicians inciting hatred or violence would be deleted, and posts judged to be in the public interest would be labeled.

This content was produced with the assistance of AI translation services.