Mark Zuckerberg made just $ 7.2 billion after he dropped ads from the Facebook Inc. network.
Shares of the social media giant fell 8.3% on Friday after Unilever, one of the largest advertisers in the world, joined other brands that were releasing ads on the social network. Unilever says it will stop spending money with Facebook assets this year.
According to the Bloomberg Billionaires Index, the share price fall wiped out $ 56 billion from Facebook's market value and Zuckerberg's total assets fell to $ 82.3 billion.
It surpassed Louis Vuitton boss Bernard Arnault, one of the world's three richest men, along with Jeff Bezos and Bill Gates, and Facebook's chief executive.
Verizon Communications Inc. from Hershey Co. Companies have also banned social media advertising, with critics claiming that Facebook failed to adequately promote the police's vulgar language and platform. The Coca-Cola company said it would stop all paid advertising on all social media platforms for at least 30 days.
Zuckerberg responded to growing criticism of the misinformation on the site on Friday, prompting customers to check out their new voter information center, with the company announcing that all voting posts will be labeled with a link.
Facebook has expanded its definition of banned abusive language, adding a clause that no advertising is provided if any population is labeled as offensive.
"There are no exceptions for politicians in the policies announced here today," Zuckerberg said.
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