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Mark Zuckerberg Loses $6 Billion in Hours as Services Plunge

Zuckerberg dropped below Bill Gates to the fifth rank on the Bloomberg Billionaires Index.

Mark Zuckerberg’s personal wealth has fallen by more than $6 billion (generally Rs. 44,790 centers) in a couple of hours, list of the world’s richest people, after a whistleblower came forward and outages took Facebook’s flagship products offline.

A selloff sent the online media monster’s stock diving 4.9 percent on Monday, adding to a drop of around 15% since mid-September.

The stock slide on Monday sent Zuckerberg’s worth down to $121.6 billion (generally Rs. 9,06,050 crores), dropping him underneath Bill Gates to No. 5 on the Bloomberg Billionaires Index. He’s down from nearly $140 billion (generally Rs.10,43,150 crores) very quickly, as indicated by 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 January 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.

Accordingly, Facebook has accentuated that the issues confronting its items, including political polarization, are perplexing and not brought about by innovation alone.

“I think it gives people comfort to assume that there must be a technological or a technical explanation for the issues of political polarisation in the United States,” Nick Clegg, Facebook’s vice president of global affairs, told CNN.