Meta shares slide on scam ads report | JQJO

Mark Zuckerberg’s fortune fell by nearly $5 billion as Meta shares slid Thursday after Reuters reported internal documents projecting about 10% of the company’s revenue—estimated at $16 billion—could come from ads for scams and banned goods. The outlet also said the SEC is investigating Meta over financial scam advertising. Meta spokesperson Andy Stone called the documents selective and said internal estimates were lower, adding the 10% figure included many legitimate ads. The drop extends a recent pullback following weak headline EPS driven by a $15.9 billion one-time tax charge and higher capital spending plans.