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Facebook To Put 1.5 Billion Users Out of Reach of New EU Privacy Law (reuters.com)
An anonymous reader quotes a report from Facebook: If a new European law restricting what companies can do with people's online data went into effect tomorrow, almost 1.9 billion Facebook users around the world would be protected by it. The online social network is making changes that ensure the number will be much smaller. Facebook members outside the United States and Canada, whether they know it or not, are currently governed by terms of service agreed with the company's international headquarters in Ireland. Next month, Facebook is planning to make that the case for only European users, meaning 1.5 billion members in Africa, Asia, Australia and Latin America will not fall under the European Union's General Data Protection Regulation (GDPR), which takes effect on May 25. That removes a huge potential liability for Facebook, as the new EU law allows for fines of up to 4 percent of global annual revenue for infractions, which in Facebook's case could mean billions of dollars.
"fines of up to 4 percent of global annual revenue for infractions"
Revenue = 12.97B
4% = 518 million
https://www.google.com/search?...
Wrong. As an EU citizen my data stored on Facebook or whoever's server belongs to me as long as they trade within the EU. If they don't like it they know what to do.
As a none-EU citizen your data that is stored within the EU is also subject to GDPR and you are afforded the same rights under the GDPR regardless of which country you live in.