Tuesday 5 October 2021 11:12 am

Mark Zuckerberg loses $6bn in Facebook selloff spree following global outage

Mark Zuckerberg has lost $6bn in a Facebook selloff spree that followed in the wake of a massive server outage yesterday, as well as accusations against the social media giant in relation to children’s interests through its flagship product Instagram.

Zuckerberg came down a notch on the richest man’s list as Facebook’s stocks plummeted 4.9 per cent on Monday, adding to 15 per cent drop it has seen since mid-September.

The decrement brought his personal wealth down to $121.6bn, placing him behind Bill Gates in the fifth spot, according to Bloomberg’s Billionaire Index this morning.

The stock crash was attributed to a six hour-long outage Facebook and its other products experienced yesterday.

The day was also marked by the appearance of Facebook’s former employee on 60 minutes, where she repeated her accusations that Facebook has been undermining children’s interests through exposure to Instagram.

This was the first time the whistleblower’s identity was revealed. Her accusations, based on an internal research done by Facebook, first appeared in Wall Street Journal last month.

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