Meta, the parent company of Facebook, Instagram, WhatsApp, Messenger, and Thread has a net worth of $1.88 trillion, and it’s a good thing. The tech company, owned by Mark Zuckerberg, was just ordered to pay $25 billion in penalties by a New Mexico court as part of a data privacy case that stemmed from the company’s Cambridge Analytica scandal from nearly a decade ago. The court found the social media giant liable for misleading New Mexico citizens about how it safeguards and collects user data and prevents harmful information from flourishing on its services. District Court Judge Francis Mathew pointed out in his statement that the intentional nature of Facebook’s repeated misstatements and the involvement of senior Facebook leadership warranted the highest level of penalty allowed, which is $5,000 per violation. The judge added that interest on the penalty shall accrue at the rate of 15% each year until the fine is paid in full. Meta said it disagreed with the New Mexico ruling and plans to appeal.
