AGENCIES | RT.com – Mark Zuckerberg is facing some major financial consequences, according to Forbes, losing billions of dollars, as well as his No.5-richest man rank as users continue to be shut out of Facebook, Messenger, Instagram, and WhatsApp.
After mass complaints about the various platforms being down and users getting error messages, Facebook said it was working to resolve the issue.
As the platforms have remained down for hours, more and more have piled onto Zuckerberg and gone to other social media apps that aren’t experiencing such issues, like Twitter and Telegram. Many have even temporarily celebrated the absence of Facebook.
Critics have more reason to throw shots Zuckerberg’s way because he’s lost billions since his apps have begun experiencing trouble, according to real-time tracking by Forbes.
Forbes’ list of “today’s winners and losers” tracks from the close of business the previous day, meaning Zuckerberg’s massive losses have happened since customers began experiencing technical issues.
Other leaders in Big Tech, however, have also seen recent losses, according to the data, with Amazon’s Jeff Bezos and Microsoft’s Bill Gates both having billions in losses too, though still comparatively minor in the shadow of Zuckerberg’s $6.7 billion (as of this writing). The loss has put Zuckerberg at sixth on Forbes’ list of the world’s top billionaires. Elon Musk sits at the top.
Facebook stock has dropped multiple percentage points in the wake of not only the technical difficulties, but also a ‘60 Minutes’ interview with a whistleblower from the company that aired on Sunday night.
Data scientist Frances Haugen came forward as the whistleblower behind a recent report claiming the company is aware of the negative effects their services can have on users, and their censorship ‘measures’ have been used to increase just profit, rather than fight misinformation, as the company claims.
Haugen will appear before Congress this week for a hearing called ‘Protecting Kids Online,’ which will focus on the alleged negative effects of Facebook’s algorithms on youths.