Mark Zuckerberg's personal fortune was nearly $ 7 Billion in just hours. Why? The global fall of Facebook, Instagram, and WhatsApp caused a drop in position on the Forbes list of the most wealthy people in the world.
Getty Images & dole777 va Unsplash
The shares of the social media giant have dropped by about 5% and there has been a 15% drop in traffic since mid September. According to the Bloomberg Billionaires Index this has cost Zuckerberg fifth place among billionaires. He now stands at $ 120.9 billion sixth, just behind Bill Gates.
A DownDetector portal report states that problems with these platforms have been reported in many European, Asian, Latin American, and North American countries. They also accumulate a lot of investigations on social networks.
A series of complaints led to the fall of networks
The Wall Street Journal published a series on September 13th in which it stated that Facebook was aware of the problems its products were creating. These included Instagram's damage to mental health and misinformation about topics like COVID-19, or the riots at the United States Capitol in the early 2021.
Frances Haugen, a former employee of Facebook, spoke out on "60 Minutes" to explain that she was "alarmed" at the decisions made during her time at Facebook. She stated that profits were prioritised over public safety, and that people's lives were at risk.
Haugen stated that he quit Facebook earlier in the year because he was getting frustrated with the company. He copied several memos and other internal documents before he left.
Later, Haugen shared thousands upon thousands of pages with The Wall Street Journal. The Journal has published the material in pieces for the past three week. These documents are now known as "Facebook Files" and show that the company didn't apply the same moderation policies for celebrities or VIPs.
One of the reports by The Wall Street Journal also showed that Facebook's agorhythm favoured posts that provoked anger and division among users. Employees noticed this and attempted to fix it but were met with resistance from Mark Zuckerberg, who was concerned that Facebook's interaction would plummet. social network.
