Bad times for Mark Zuckerberg! This Monday, October 4, the young billionaire behind the Facebook saga saw his heritage melt away. He will long remember the outage, now resolved, that hit the group’s social networks and messaging for hours. At the close on Wall Street, Facebook stock was down 4.89% to $ 326.23. Or a dizzying drop in Mark Zuckerberg’s fortune of more than $ 6 billion.
Nasdaq heavyweight, Facebook has been at the heart of the storm in recent weeks. The title has slipped 15% since early September. The group is accused by a whistleblower, who will testify before Congress on Tuesday (October 5), of choosing “profit over safety.” Internal research from the group has shown that the social network Instagram has negative effects on the morale of teenage girls.
Because of the fall in his shares, group boss Mark Zuckerberg, 37, can now count on a fortune of $ 121.6 billion, according to a Bloomberg count. In two weeks, his losses reached 15 billion. Facebook is one of the largest capitalizations on Wall Street, generally ranking behind Apple, Microsoft, Google (Alphabet) and Amazon. But this status does not spare the group from also being criticized by the White House. For US President Joe Biden, Facebook “can’t regulate itself,” according to spokesperson Jen Psaki. And we are talking about the possible dismantling of the giant of Pablo Alto.