© 2019 Bloomberg Finance LPSocial media company Facebook has already prepared for what could be the biggest civil fine levied by the U.S. government in history and set aside $3 billion dollars. All of this stems from the Cambridge Analytica fallout, the data analytics firm which exploited Facebook’s data of black adults its largest user group and some 87 million Americans. When the company reported its Q1 earnings last month they cited the settlement accrual for a potential fine and accounted for a $3 billion loss. They stated it could rise as high as $5 billion, even though negotiations with the FTC are ongoing. Specifically in the coveted 18-34 age range where 29% of survey respondents claimed they will reportedly delete Facebook.

Source: Forbes May 08, 2019 12:22 UTC