Mark Zuckerberg's personal wealth has fallen by more than $7 billion in a few hours, knocking him down a notch on the list of the world's richest people, after a whistleblower came forward and outages took Facebook Inc.'s flagship products offline.
A selloff sent the social-media giant's stock plummeting 4.9% on Monday, adding to a drop of about 15% since mid-September.
The stock slide on Monday sent Zuckerberg's worth down to $121.6 billion, dropping him below Bill Gates to No. 5 on the Bloomberg Billionaires Index. He's down from almost $140 billion in a matter of weeks, according to the index.
On Sept. 13, the Wall Street Journal began publishing a series of stories based on a cache of internal documents, 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 - while downplaying the issues in public. The reports have drawn the attention of government officials, and on Monday, the whistleblower revealed herself.
In response, Facebook has emphasized that the issues facing its products, including political polarization, are complex and not caused by technology alone.
"I think it gives people comfort to assume that there must be a technological or a technical explanation for the issues of political polarization in the United States," Nick Clegg, Facebook's vice president of global affairs, told CNN.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Zuckerberg "Not Planning" To Endorse Biden Or Trump In US Presidential Polls Threads Has 175 Million Monthly Active Users After a Year, Mark Zuckerberg Says India Among Most Active Markets Meta Looking to Hire Generative AI-Focused Workers on Metaverse Team After Layoffs After Retest, Haryana NEET Centre With Most Top Scorers Gave This Result... The 'Fake' CrowdStrike Worker Who Took Credit For Biggest-Ever IT Outage What Recovery Of Austrian Gun 'Steyr AUG' From J&K Terrorists Means Newborn Saved From Dead Mother's Womb After Israel Strikes Gaza Hospital Florida Cops Urge Locals To Stop Taking Selfies With "Depressed" Bear 5 People From Jharkhand's Jamtara Convicted For Money Laundering Track Latest News Live on NDTV.com and get news updates from India and around the world.