Health & Wellness

Mark Zuckerberg loses over $7 billion in Facebook, Instagram, WhatsApp outage

BP World Bureau | Oct 05 2021 11:31:46 AM
Image credits: Twitter

After an outage took Facebook Inc.'s flagship products offline for a few hours, Mark Zuckerberg's personal wealth fell by over $7 billion. This comes right after a whistleblower came forward with allegations that sent social-media giant's stock plummeting 4.9%. The company suffered a 15% drop since mid-September.

The stock slide on Monday sent his worth down to $121.6 billion. He dropped to No.5 on the Bloomberg Billionaires Index. He has been dropping from $140 billion in the past weeks, reported Bloomberg.

The Wall Street Journal has been publishing a series of stories based on Facebook's internal documents since September 13. It revealed several problems like Instagram's role in the decline of mental health issues among teen girls.

Nick Clegg, Facebook's vice president of global affairs told CNN that it gives people comfort to assume that there must be a technological or a technical explanation for the issues of political polarization in the United States. He added that the issues facing its products, including political polarization, are complex and not caused by technology alone.

CEO Mark Zuckerberg took to Facebook to apologise for the outage and wrote: "Sorry for the disruption today. I know how much you rely on our services to stay connected with the people you care about. Facebook, Instagram, WhatsApp and Messenger are coming back online now."