Mark Zuckerberg’s personal wealth has plummeted by more than $6 billion in a matter of hours after a whistleblower was exposed and Facebook Inc.’s flagship products were taken offline, giving him a foothold on the list of the world’s richest people. have come down.
A sell-off sent the social-media giant’s stock down 4.9% on Monday, down nearly 15% since mid-September.
The stock slide on Monday sent Zuckerberg’s value to $121.6 billion, making him No. 5 on the Bloomberg Billionaires Index, below Bill Gates. According to the index, that’s down from around $140 billion in just a few weeks.
On September 13, the Wall Street Journal began publishing a series of stories based on an accumulation of internal documents revealing that Facebook was aware of a wide range of problems with its products – such as that of Instagram’s teenage girls. The damage to mental health and misinformation about the January 6 Capital riots – while publicly mitigating the issues. The reports caught the attention of government officials and on Monday the whistleblower revealed himself.
In response, Facebook has emphasized that the issues facing its products, including political polarization, are complex and not caused by technology alone.
“I think it gives people comfort in believing that there must be a technical or technical explanation for the issues of political polarization in the United States,” Nick Clegg, Facebook’s vice president of global affairs, told CNN.
(Except for the title, this story has not been edited by NB staff and is published from a syndicated feed.)