Social media platforms experienced technical glitches globally Monday as users were unable to access them for hours. WhatsApp, Facebook, Facebook Messenger and Instagram, owned by Mark Zuckerberg, could not offer features peculiar to one another as users logged in for information and connection with friends.
Bloomberg reports that Silicon Valley techpreneur Mark Zuckerberg’s personal wealth has fallen by nearly $7 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.
According to Bloomberg, a selloff sent the social-media giant’s stock plummeting around 5% on Monday, adding to a drop of about 15% since mid-September.
The stock slide on Monday sent Zuckerberg’s worth down to $120.9 billion, dropping him below Bill Gates to No. 5 on the Bloomberg Billionaires Index. He’s lost about $19 billion of wealth since September 13, when he was worth nearly $140 billion, 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 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.