Facebook CEO Mark Zuckerberg said on Wednesday the company makes a “relatively small” amount from political advertising. The data published by Facebook shows they have made $2.2 billion in revenue since May 2018.
Mark Zuckerberg made the statement during a virtual U.S Senate hearing, an event organized by lawmakers to grill the executives of Google, Facebook, and Twitter over Section 230 and the protections tech companies are afforded.
The hearing was held in just eight days before the U.S presidential election, a decision that has been criticized by many people due to how close the presidential election is.
Critics have long said that Facebook’s lucrative political ad business has had an adverse effect on the spread of misinformation especially during political elections, such as the 2016 US presidential election, since advertisers can run misleading ads with impunity.
So far, political ads from Democratic presidential candidate Joe Biden and President Donald Trump have totaled $93 million and $89.3 million between January and October this year, according to data from Facebook.