- Amid two major challenges facing his company, Mark Zuckerberg, the CEO of Facebook Inc, has lost about $6 billion in personal wealth
- Forbes said the Facebook owner is now the world’s sixth-richest person while Bloomberg rated him as the fifth
- As Facebook is facing the accusation of failing to maintain safeguards against misinformation, its three major apps suffered a global outage on Monday, October 4
California, United States - Mark Zuckerberg, the CEO of Facebook Inc, on Monday, October 4, suffered a significant loss in fortune as two major happenings weakened the confidence of investors in the social media giant.
Forbes reported that Zuckerberg’s fortune declined by $5.9 billion (about N2,430,896,630,319.77) to $117 billion in total.
Mark Zuckerberg, CEO and founder of Facebook Inc., speaks during the Silicon Slopes Tech Summit in Salt Lake City, Utah, U.S., on Friday, Jan. 31, 2020. Photo: George Frey/Bloomberg Source: Getty Images
The global business media said the Facebook owner is now the world’s sixth-richest person.
On Monday evening, the services of Facebook, WhatsApp and Instagram witnessed a global outage. The “lengthy outage” of the company’s apps sent its shares down by 4.8%.
The outage is estimated to have cost the company tens of millions of dollars in revenue.
gathers that in the latest quarter, the company made around $330 million a day in sales.
Meanwhile, before the global outage, Facebook was already dealing with the case of a whistleblower who accused the company of putting “profits over people” and failing to maintain safeguards against misinformation after the 2020 presidential election in the United States.
The whistleblower, Frances Haugen, a former Facebook staff, is scheduled to testify at a congressional hearing on Tuesday, October 5.
Similarly, Bloomberg reported that Zuckerberg’s personal wealth fell by more than $6 billion in a few hours following the outage and the whistleblower saga.
In its own calculation, the business news media said Zuckerberg’s worth is now down to $121.6 billion, dropping him below Bill Gates to No. 5 on the Bloomberg Billionaires Index.
He’s down from almost $140 billion in a matter of weeks, according to the index.