Fri. Oct 22nd, 2021

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Zuckerberg Loses $7bn As Facebook, WhatsApp, Instagram Collapse

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The net worth of Mark Zuckerberg, founder and chief executive officer (CEO) of Facebook, fell by nearly $7 billion in a few hours after the company’s flagship products collapsed.

According to Bloomberg, a selloff in Facebook’s stock plummet around 5 percent on Monday.

The stock slide dropped Zuckerberg’s worth to $128 billion on the Bloomberg Billionaires Index.

Apart from the shutdown, a whistleblower had earlier revealed that the company prioritised profit over the public good.

Frances Haugen, a 37-year-old former Facebook employee, alleged that Facebook knows its platforms are used to spread hate, violence and misinformation, and that the company tried to hide that evidence.

She filed complaints with the Securities and Exchange Commission (SEC) that the company is hiding research about its shortcomings from investors and the public.

WhatsApp, Instagram, and Facebook all gone down in what appeared to be another global outage.

According to data on Downdetector, the three social media platforms — owned by Mark Zuckerberg — completely stopped working shortly before 5 pm (GMT+1) on Monday, leaving millions of users worried.

In a Twitter post, Facebook said it is aware of the issue and working to fix it.

“We’re aware that some people are having trouble accessing our apps and products. We’re working to get things back to normal as quickly as possible, and we apologize for any inconvenience,” the company tweeted.

Instagram and WhatsApp also tweeted that they are currently resolving the issues.

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