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The personal fortune of Facebook founder Mark Zuckerberg fell after the company’s stock price fell on Monday amid the problem of document leaks and service outages around the world.
According to the Forbes and Bloomberg sites, the fortune of the founder of the social networking site fell by more than $ 6 billion in a few hours on Monday night, causing Zuckerberg’s fortune to drop to $ 121.6 billion, falling in fifth place on the Bloomberg Billionaires Index, before his fortune soared; with today’s jump to $ 128 billion, he sits in fourth place.
Zuckerberg’s fortune fell by nearly $ 140 billion in just a few weeks, according to the index.
Forbes said Facebook COO Sheryl Sandberg’s fortune also fell to $ 1.9 billion.
The sell-offs drove Facebook stock down 4.9%, in addition to losses of 15% per share since mid-September.
The company’s stock price fell due to declining investor confidence in the company, amid continued political pressure on the company and the company’s long hiatus in applications, according to Forbes. Facebook’s action has come under pressure on two fronts, with an unusually long outage of its platform of the same name, in addition to Instagram and WhatsApp, “a mistake that could cost the company millions of dollars. income, “and one represented by documents disclosed by a former company employee, according to Forbes.
Forbes reported that Monday’s blackout affected Facebook’s internal systems, with employees unable to access emails, the internal messaging system known as Workplace, and even some doors at corporate headquarters. business.
The events come after a former company employee appeared on U.S. television to reveal her identity after she disclosed a set of documents to authorities alleging that Facebook knows its products fuel hatred and harm children’s mental health.
And the American Wall Street Journal published a set of documents showing the company was aware of a wide range of issues with its products, such as Instagram’s damage to teenage mental health and misinformation about the riots in the US Capitol.
“Facebook has limited oversight, comparing it to tobacco companies that have denied for decades that smoking is harmful to your health,” Reuters said.
The data expert will say that “when Facebook executives have to choose between profit or user safety, the profits win.”
White House spokeswoman Jen Psaki said on Monday of the leaks that the administration viewed the leaks as the latest episode showing “self-regulation” within huge social media companies “was not working” .
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