Facebook, Inc. (NASDAQ:FB), Lloyds Banking Group Plc (NYSE:LYG) – 5 things you might not know about Nick Clegg, President of Global Affairs for Meta-Platforms

A veteran British politician is the head of global affairs for one of the biggest social media companies in the world.

Nick Clegg is now the President of Global Affairs for Meta Platforms Inc (NASDAQ: FB). He had been vice president of global affairs and communications since October 2018.

In his new role, Clegg will be in charge of Meta’s political decisions and interactions with governments, which could affect the founder and CEO of Meta Platforms Mark Zuckerberg away from the spotlight.

“Nick will now lead our business on all of our policy matters, including how we interact with governments when they consider adopting new policies and regulations, as well as how we publicly defend our products and our work,” Zuckerberg said.

Here are five things you might not know about Nick Clegg.

1. Joining meta-platforms after a political career: Clegg joined Facebook, the former name of Meta Platforms, after more than two decades of experience in British politics.

Clegg started his political career as a Member of the European Parliament in 1999. He became the leader of the Liberal Democrat Party in 2007 in the UK. Clegg held positions in the UK Parliament, the European Commission and the UK Coalition Government, for which he was Deputy Prime Minister, from 2010 to 2015. Clegg was defeated by Jared O’Mara of Labor in the general election of 2017.

Clegg has moved to the United States to take on a new role at Facebook.

2. I wanted to give people UK bank stocks: Clegg proposed that 46 million people would receive shares in several UK banks under a ‘people’s bank’ scheme in 2011. The proposal called for people to get shares in the Royal Bank of Scotland and Lloyds banking group. APIs (NYSE:LYG).

Clegg’s plan was to reward taxpayers who helped bail out the banks. Shareholders would benefit if bank shares rise in the future.

“Their money has been used in the billions and billions and billions to keep the UK banking system on life support,” Clegg said.

3. Favorite groups, albums: Clegg appeared on an episode of “Desert Island Discs” in 2010. At the time, Clegg named several classical music albums to his list and also named Johnny Cash, Prince, David Bowie and Radiohead among the artists whose music would be on the island with him. Some were surprised to hear Clegg’s choice by Shakira “Waka Waka”, the theme song for the 2010 World Cup, among his eight selections.

4. Controversies: Among the items mentioned as controversies surrounding Clegg is the burning of a cactus collection. As a 16-year-old exchange student in Munich, Germany, Clegg burned a rare collection of cacti belonging to a professor.

Another controversy for Clegg was breaking an unwritten rule and calling for the resignation of a Speaker of the British Parliament. Clegg was the first since 1695 to publicly ask a Speaker of the House of Commons to resign. The speaker in question, Michael Martin, resigned a month after Clegg made the remark.

5. Embrace internet regulation: Clegg outlined a bipartisan approach to internet regulation that could impact meta-platforms and other tech companies. Clegg called for reform of Section 230 of Congress to protect against influence operations, pushing for federal privacy legislation and new rules on sharing data collected by companies .

Clegg shared that a new digital regulator should be created by the United States to help manage issues like content and data in a similar way like the Federal Communication Commission overseeing telecommunications and media.

Photo: Courtesy of Meta Platforms

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