Facebook Founder, Mark Zuckerberg, lost around $3.3bn from his personal wealth to promote user interaction over posts related to brands and business.
One of our big focus areas for 2018 is making sure the time we all spend on Facebook is time well spent.We built…
Zuckerberg’s sudden move to bring change in relation to News feed brought ripples in digital industry. It is considered that the sole reason behind making such a move was to display that the social networking site wants to bring a positive impact on the lives of its users.
The co-founder focussed on the need to fix the News Feed update to ensure that the users spend a quality time with their friends and relationships on their social media profile.
While this unexpected resolution made by the Zuckerberg in the New Year, has brought a significant improvement in building up the public image of Facebook, but still, there are other major concerns for the social networking site. The instant change in the News Feed section has already made the investors and advertisers upset as it has become a tough game for them to reach their potential customers via social media.
In the past, Facebook has faced a lot of criticism for promoting fake stories while it was considered a major cause for social media addiction among the people. Hence, the decision clearly points out Facebook’s need to restore its faith among the social media users.
Immediately, after the announcement, on Friday, the shares of Menlo Park, California-based Facebook slumped to around 4.5%, causing the Facebook tycoon’s personal fortune fall to $74 Billion on Bloomberg Billionaires Index. This made him lose his place from third to fourth in the list of World richest man. He lost his position to Spanish billionaire Amancio Ortega.