Who doesn’t know Mark Zuckerberg? It’s a bit weird if you do not know who he is, whereas you are addicted to social media, Facebook. As a Co-Founder and CEO of Facebook, He had to accept the harsh reality that his wealth had dropped drastically since mid-September.
Well, it can be said that this year mark’s stock declined very drastically. You may also wonder how much Mark loses his money today, as every day, Mark’s stock always decreases without any increase at all. To get this information, you need to keep staying on our page.
Mark Zuckerberg’s Wealth Drops
According to Forbes.com, Mark’s personal wealth declines by $5.9 billion in a few hours to a total of $117 billion. With his wealth drops, it knocked him down a notch on the list of the world’s richest people.
Mark’s stock drops seems to send Mark’s wealth down to $121.6 billion. It also drops him below Bill Gates to number 5 on the Bloomberg Billionaires Index. According to the Index, Mark’s wealth decreased approximately $140 billion in a matter of weeks.
In fact, a selloff sent the social media giant’s stock down roughly 4.9% on Monday. Well, the drop is increasing about 15% since mid-September. While Top Lieutenant Sheryl Sandberg saved her worth down to $1.9 billion.
Why Does Mark Zuckerberg’s Stock Fall?
One of the things that most affected the brand’s stock to plummet was the diminishing confidence of investors to invest in Facebook amid ongoing political pressure and long-standing outages in the company’s applications. However, those reasons could easily send Mark’s stock down 4.8% and eliminate billions from CEO Mark Zuckerberg’s worth.
Aside from them, there’s also a whistleblower who came forward and took Facebook Inc.’s flagship product offline. In fact, Wall Street Journal also published a series of stories in September 2013, according to a change of internal documents.
The series of stories revealed that Facebook knew about a number of problems with its products that talked about Instagram’s harm to teenage girl’s mental health and misinformation about the January 6 Capitol riots.
Certainly, the report of the Wall Street Journal has drawn the attention of government officials. On Monday, the whistleblower eventually revealed herself. Well, in response, Facebook emphasized that the issues encounting its products, especially political polarization, are also complex and not caused by technology alone.
What’s the Problem on Facebook?
We may already understand that Mark Zuckerberg’s stock fall will be caused by some factors. The main factor that may affect Mark’s wealth is the existence of a new pioneer who took Facebook Inc.’s flagship product offline.
Aside from that, Facebook’s stock currently came under pressure from two fronts. They are the long outage of its namesake platform: WhatsAp and Instagram. Well, its mistake may likely cost the company tens of millions of dollars in revenue.
In fact, Facebook last experienced an outage like this in 2019 when the network was shut down for 14 hours. In 2008, the problem on Facebook went dark for a day. Certainly, Monday’s outage actually affected the internal systems at Facebook. So it makes it impossible for employees to access emails, the internal messaging system and even reportedly some doors at company headquarters.
Then, the other problems that may weigh on Facebook is Tuesday’s Congressional hearing, in which a former product manager, Frances Haugen is going to testify about her decision to be a whistleblower and also leak internal data to the Wall Street Journal.
In a 60 minutes interview last night, Frances Haugen criticized Facebook for putting ‘Profits over people’. She also revealed that Facebook failed to maintain safeguards against misinformation once the 2020 presidental election.
Surprisingly, the stock of Facebook has proven durable over the past few years of scandals including the January 6 riots and last year’s ad boycott. If you see that Facebook’s shares near record highs will be closed on Monday at $326. Well, this is a more than 150% increase in five ways.
Some Issues That Occur on Mark’ Social Platforms
Here are basic issues that occurs on a number of social platforms owned by Mark Zuckerberg:
- System breakdown
A lot of people are reporting that they cannot access the smartphone apps and sites of popular social media services. They revealed when attempting to open the sites, it brings out a black white page and there’s an error message that says ‘500 server error’.
In this case, the Android and iOS version of the Instagram and Facebook apps are going to open, however it will not load the user’s feeds and also show them new content. The WhatsApp messages do not reach their recipients with a clock icon next to them. However, the icon is to indicate that they have not been dispatched.
The point is, the Facebook services damage is believed to have been caused by an internal error rather than a malicious track.
- Twitter takedown
When there’s a big issue on Facebook, the Twitter users quickly mock the Facebook outages, before it starts to experience problems of its own. If you also have a problem with Twitter, please be patient, as there are only a lot of users who have a hard time. That’s because Instagram and other Mark’s social media platforms have a bit of a hard time.
- App Flap
You should know that Instagram, WhatsApp and Facebook commonly experience small individual outages, however it is rare for the apps to go down at once. They will be running on a shared infrastructure and also other Facebook-owned including Facebook Workplace and Oculus site.
- Some bugs and errors
You may also find that the issues occuring on Facebook are caused by some errors and bugs. According to Jake Moore, the latest outage is the software bug or human error result. She also stated that outages increasing in volume will be able to point towards a cyber-attack. However, it can add to the confusion early when they are diagnosing the causes.
The point is, the web-blackouts frequently originate from an undiscovered software bug or even human error. However, to predict this issue will be hard, as it was never thought possible before.
On my daily job, I am a software engineer, programmer & computer technician. My passion is assembling PC hardware, studying Operating System and all things related to computers technology. I also love to make short films for YouTube as a producer. More at about me…