Following Monday’s Facebook disruptions and rumours of a whistleblower stepping forward, Mark Zuckerberg has taken a hit.
According to Bloomberg, the social media behemoth’s net worth has dropped by more than $6 billion in just a few hours. His net worth is now estimated to be around $121.6 billion, making him the world’s fifth richest person behind Bill Gates. According to Forbes, he lost $5.9 billion, and Sheryl Sandberg’s net worth has dropped to $1.9 billion.
Zuckerberg was previously ranked No. 3 on Bloomberg’s Billionaires Index, but he has dropped in recent weeks, most notably on Monday as Facebook, Messenger, Instagram, and WhatsApp all had disruptions with user access. According to Bloomberg, Facebook’s shares fell 5% on Monday, extending a 15 percent drop since mid-September. Since Sept. 13, Zuckerberg has reportedly lost $19 billion in worth.
Whistleblower Frances Haugen, who came forward this week, has claimed that internal Facebook research shows that the network has reinforced disinformation.
In a 60 Minutes story, Haugen said, “The thing I witnessed at Facebook over and over again was there were conflicts of interest between what was good for the public and what was good for Facebook, and Facebook over and over again opted to optimize for its interests, like generating more money.”
Haugen is set to testify in front of Congress this week, following a series of Wall Street Journal pieces on the subject.