In a post on Facebook yesterday, the Capital A CEO said he has already closed his Threads account and will close his Facebook account today, followed by Instagram.

“I love social media and it’s been incredible for me.

“(But) I have been the victim of so much fake scams and, really, Meta can stop all of this,” he said, referring to the parent company that owns the three platforms.

Fernandes said he has been disappointed by the constant fake news on Meta platforms.

“We talk about scams in parts of Asia but this can be prevented with the huge amount of technology they have,” he said.

He also said that closing his accounts has nothing to do with the negative comments he receives on social media, adding that such comments inspired him to do better.

“It has been a lot of fun and thanks for all the support, both positive and negative comments. Not closing down because of negative comments. They also inspire me to be better,” he said

He said he wants to focus on “what’s important” at this “last stage” of his life.