Down servers and a whistle-blower and managed to plummet 4.9% value in the stocks of social media giant Facebook. Since mid-September, the total drop is of about 15%.
Personal wealth of Mark Zuckerberg fell by more than $7 billion in a few hours and brought him down at No 5 after Bill Gates on Bloomberg Billionaires Index, a list of the world’s richest people. Zuckerberg’s wealth went down to $121.6 billion as per index.
A whistle-blower, who later identified herself as ex-employee Frances Haugen provided base to a series of stories that the Wall Street Journal published 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 Jan. 6 Capitol riots
Facebook however has maintained that the issues for which it is accused are complex and not caused by technology alone.
