Facebook has lost $ 33.6 billion of its market value since Donald Trump was ousted. The decision of the social network has visibly aroused the concerns of shareholders. Despite this financial setback, the Californian group does not intend to lift the suspension of the outgoing president.
After the Capitol riots, social media finally decided to take drastic measures against Donald Trump. Twitter thus blocked “permanently” the billionaire’s account, followed by Twitch, Snapchat, TikTok, Pinterest and even YouTube.
After years of inaction, Facebook has finally decided to ban “indefinitely” the current tenant of the White House. The Californian group considers Donald Trump responsible for the attack on the Capitol. Facebook group number 2 Sheryl Sandberg recently clarified that Donald Trump’s Facebook account will remain blocked until the takeover of Joe Biden January 20, 2021.
Facebook shareholders fear retaliation from Donald Trump
“Our ban is indefinite. We said it would last at least until the presidential transition, but we do not intend to lift it ” explains Sheryl Sandberg. Concretely, Donald Trump should remain Facebook persona non grata even after the end of his term. The “president is not above our rules ”, recalls the leader.
On the same subject: the pro-Trump social network Parler files a complaint against Amazon, which no longer wants to host it
In any event, the exclusion of Donald Trump was accompanied bya major stock market setback for Facebook. As reported by our colleagues at Business Insider, Facebook’s stock market share plunged 4.5% during the day of Monday, January 11, 2021. Since the outgoing president’s ouster, the social network has even lost 33 , $ 6 billion in market capitalization.
According to the media, investors fear that Donald Trump will encourage his 74.2 million voters to delete their Facebook account, and boycott all services of the social network. Worse, the outgoing president may well take advantage of his last days in office to take political reprisals against the social networks that have banned him. Last May, Donald Trump had already signed a presidential decree resembling sanctions against Twitter. This decree called into question section 230 of the Communication Decency Act of 1996 which limits the liability of social networks. Is Trump about to do the same against Facebook?
Source: Business Insider