Mark Zuckerberg Loses $6 Billion In Hours After Facebook Outage
NDTV
A selloff sent the social-media giant's stock plummeting 4.9% on Monday, adding to a drop of about 15% since mid-September.
Mark Zuckerberg's personal wealth has fallen by more than $6 billion in a few hours, knocking him down a notch on the list of the world's richest people, after a whistleblower came forward and outages took Facebook Inc.'s flagship products offline.
A selloff sent the social-media giant's stock plummeting 4.9% on Monday, adding to a drop of about 15% since mid-September.
The stock slide on Monday sent Zuckerberg's worth down to $121.6 billion, dropping him below Bill Gates to No. 5 on the Bloomberg Billionaires Index. He's down from almost $140 billion in a matter of weeks, according to the index.
On Sept. 13, the Wall Street Journal began publishing a series of stories based on a cache of internal documents, revealing that Facebook knew about a wide range of problems with its products - such as Instagram's harm to teenage girls' mental health and misinformation about the Jan. 6 Capitol riots - while downplaying the issues in public. The reports have drawn the attention of government officials, and on Monday, the whistleblower revealed herself.
