in

Mark Zuckerberg Drops to No.5 in World’s Richest List after Losing $7 billion Within Hours

Mark Zuckerberg
Mark Zuckerberg. [IMAGE/ COURTESY

Facebook CEO Mark Zuckerberg’s personal wealth dipped by about $7 billion within a few hours after popular social media platforms Facebook, WhatsApp and Instagram suffered outages.

Zuckerberg’s rank went down to number 5 in the list of the world’s richest people, just after Bill Gates. Facebook’s stock plummeted 15 percent since mid September and 4.9 percent on Monday evening.

According to Bloomberg, the social media giant’s stock dropped from $140 billion to $121 billion within just a few weeks.

Read: Reactions As Mark Zuckerberg “Leaks” Chat With Campbell Brown’s Son

Apart from the outage, Facebook has had a series of incidents in the past few weeks. The company has been accused of putting profits before the well being of its users through documents provided by a whistleblower who came forward last week.

The Wall Street Journal published some of the company’s internal findings alleging that it was aware that Instagram was causing harm to the mental health of young women on the platform.

The whistleblower is set to testify before the US Senate in a few hours.

In response to the damning allegations, Facebook says the issues are complex, and not exclusively caused by technology alone.

Email your news TIPS to news@kahawatungu.com or WhatsApp +254708677607. You can also find us on Telegram through www.t.me/kahawatungu

Written by Vanessa Murrey

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This is Why Facebook Platforms Suffered a Six-hour Outage Monday Evening

Evans Monari

ICC Lawyer Evans Monari Is Dead