Zuckerberg loses $7bn over Facebook, WhatsApp, Instagram collapse

In a few hours after his company’s flagship products collapsed, the networth of Mark Zuckerberg, founder and chief executive officer (CEO) of Facebook, fell by close to $7 billion.

According to Bloomberg, a selloff plummeted Facebook’s stock around 5 percent on Monday.

The stock slide dropped Zuckerberg’s worth to $128 billion on the Bloomberg Billionaires Index.

Apart from the shutdown, a whistle blower had earlier revealed that the company prioritised profit over the public good.

Frances Haugen, a 37-year-old former Facebook employee, alleged that Facebook knew its platforms were used to spread hate, violence and misinformation, and that the company tried to hide that evidence.

She filed complaints with the Securities and Exchange Commission (SEC) that the company was hiding research about its shortcomings from investors and the public.

WhatsApp, Instagram, and Facebook all gone down in what appeared to be another global outage.

According to data on Downdetector, the three social media platforms owned by Mark Zuckerberg completely stopped working shortly before 5:00 pm (GMT+1) on Monday, leaving millions of users worried.

In a Twitter post, Facebook said it was aware of the issue and working to fix it.

Tweeted the company: “We’re aware that some people are having trouble accessing our apps and products. We’re working to get things back to normal as quickly as possible, and we apologize for any inconvenience.”

Instagram and WhatsApp also tweeted that they were currently resolving the issues.



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