Facebook founder Mark Zuckerberg lost about $ 7.2 billion after a series of companies withdrew ads from the Facebook network.
According to Arabia Net, the company's shares fell by 8.3% on Friday, the biggest daily decline in three months, after Unilever, one of the largest advertisers in the world, joined Other brands to boycott ads on the social network.
The loss of billionaire Mark Zuckerberg landed him from third to fourth on the Bloomberg Index of billionaires globally.
Unilever said it would stop spending money on Facebook ads this year.
The drop in the share price excluded $ 56 billion from Facebook's market value and pushed Zuckerberg's net worth to $ 82.3 billion, according to the Bloomberg Billionaires Index.
French Louis Vuitton fashion and luxury accessories, US Verizon Communications, British consumer products Unilever and Japan's Honda Motor Company put their ads on Facebook after critics said that Facebook had failed to monitor Hate speech and misleading information on its platforms.
The Coca-Cola Company said it will pause all paid ads on all social media platforms for at least 30 days.
