Facebook's parent company Meta has been ordered by a Washington State court to pay $25 million in fines after it found that the social media platform violated Washington's political disclosure law 822 separate times between 2019 and 2021.
- Meta was also ordered to fully comply with the state's election transparency laws, which have existed since 1972, requiring ad sellers to disclose the names and addresses of political buys.
Zuckerberg's Net Worth Plunges
- Mark Zuckerberg has seen his net worth plunge by more than $100 billion in the last 13 months as the stock price of his company, Meta, faced steep losses.
Before the COVID Lockdowns, Big Tech media platforms were in steep financial decline due to falling ad revenues and rising costs.
- Facebook suffered continuous losses leading to its first ever net revenue drop in 2022.
- Facebook's user growth has also essentially frozen and the company is slated to lose users this year.
- Another factor which has many in the public pulling back from Facebook is the problem of user data and how it is being handled.
https://www.zerohedge.com/political/facebook-fined-25m-washington-state-violating-election-law
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