It’s safe to say this hasn’t been a good week for Facebook boss Mark Zuckerberg. 

Coca Cola announced on Saturday that it has taken a decision to join the growing list of companies in support of the #StopHateforProfit campaign by American civil rights groups.

Effectively, it means the company will not advertise on the social media platform- taking a large chunk of money out of Zuckerberg’s pockets.

Zuckerberg’s net wealth is down by $7.21 billion as of Saturday, while Facebook’s share price dropped more than 8% at the close of Friday trading, as the ad boycott snowballs.

Coca-Cola chief executive James Quincey said the company would “rethinks its policies” in the interim.

“There is no place for racism in the world and there is no place for racism on social media,” Quincey wrote on Coca-Cola’s site. “The Coca-Cola Company will pause paid advertising on all social media platforms globally for at least 30 days. We will take this time to reassess our advertising policies to determine whether revisions are needed. We also expect greater accountability and transparency from our social media partners.”