Mark Zuckerberg’s personal wealth has fallen by nearly $6 billion in a few hours, knocking him down a notch on the list of the world’s richest people after his technology platforms, including Facebook, Instagram, and WhatsApp, all crashed on Monday, October 4, 2021.
Apparently, this isn’t a huge setback for him. Ultimately, the loss reduced his fortune to $117 billion. On the Bloomberg Billionaires Index, he is now the world’s fifth wealthiest man, following behind Bill Gates. Jeff Bezos, on the other hand, was valued at $185.8 billion in the first quarter of 2021.
In this case, Zuckerberg’s financial loss may appear insignificant. However, it has knocked him down the list of the world’s wealthiest people, and it comes on the heels of allegations about the company’s actions, which have already caused havoc.
Last week, a Facebook whistleblower provided the US Congress, the Securities and Exchange Commission, and several news outlets with a plethora of data on the company’s operations. A former product manager in Facebook’s present Civic Integrity Unit, Frances Haugen, disclosed herself on 60 Minutes. she said that “things were substantially worse at Facebook than anything I’d seen before.” Her purpose is to fix the company rather than destroy it.
“When we realized tobacco companies were hiding the harms it caused, the government took action. When we figured out cars were safer with seatbelts, the government took action,” said Haugen’s written testimony. “I implore you to do the same here.”
However, it appears that a common technological failure may have caused greater damage than any whistleblower could have anticipated.
After a five-hour outage, Facebook and Instagram were restored. A Facebook “recovery team” employee stated that a failed configuration attempt most likely caused the failure as the crisis unfolded. Twitter users articulated that Facebook’s self-owned registrar master key was deleted, removing the company from the internet. But with service returning to
However, this would certainly be one of the most intriguing chapters in the history of corporate crises, as the companies involved inspect the damage and possibly react to keep it from occurring again.
This is breaking news, and further information will be added as it becomes available.