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Monday’s stock decline caused Mark Zuckerberg’s value to drop to $ 121.6 billion. (To file)
Mark Zuckerberg’s personal fortune plummeted by more than $ 6 billion in a matter of hours, knocking him down a notch on the list of the richest people in the world, after a whistleblower came forward and blackouts hit. took Facebook Inc’s flagship products offline.
A massive sell-off caused the social media giant’s shares to fall 4.9% on Monday, adding to a decline of around 15% since mid-September.
Monday’s stock decline caused Zuckerberg’s value to drop to $ 121.6 billion, pushing him below Bill Gates to No.5 on the Bloomberg Billionaires Index. It is down nearly $ 140 billion in just a few weeks, according to the index.
On September 13, the Wall Street Journal began publishing a series of stories based on a cache of internal documents, revealing that Facebook was aware of a wide range of issues with its products – such as the damage Instagram caused to teenage mental health and misinformation about the Jan.6 Capitol riots – while downplaying problems in public. The reports caught the attention of government officials and on Monday the whistleblower came to light.
In response, Facebook pointed out that the issues facing its products, including political polarization, are complex and are not caused by technology alone.
“I think it reassures people to assume that there must be a technological or technical explanation for the problems of political polarization in the United States,” Nick Clegg, vice president of global affairs for Facebook, told CNN.
(Except for the title, this story was not edited by NDTV staff and is posted from a syndicated feed.)
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