BusinessFacebook strikes; Zuckerberg's loss was $ 7 billion

Facebook strikes; Zuckerberg’s loss was $ 7 billion

Highlight:

  • Companies withdraw ads
  • The CEO apologizes to users.
  • The company did not specify the cause of the crash

Social media outlets such as Facebook, Instagram and WhatsApp have been shut down. Mark Zuckerberg’s loss is reported to be more than $ 7 billion. According to a Bloomberg report, Zuckerberg has slipped to fifth place in the list of billionaires as Facebook shares plummeted due to the global crisis. The impact was exacerbated by the withdrawal of advertisements by large companies after Facebook’s apps, such as WhatsApp, Instagram and Messenger, were shut down. Social media activity was reportedly partially disrupted for about six hours.

Before the crash, Zuckerberg was ranked third on the list of world billionaires. Shares of Facebook fell 5 percent yesterday alone. Shares have been down 15 per cent since mid-September. The CEO of Tech Giant has blamed the disruption on social media services. Mark Zuckerberg has personally apologized to millions of users around the world. He also made a promise to return to service immediately. Currently the services are back to normal. The company has not yet clarified the reason for the disruption, although services have begun to be available to users.

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The breakdown of social media was the main topic of discussion on Twitter yesterday. This was followed by a huge increase in the use of Twitter. India is one of the largest markets for Facebook and other platforms. According to figures released by the government earlier this year, there are 53 crore WhatsApp users, 41 crore Facebook users and 21 crore Instagram users in India.

Zuckerberg dropped out halfway through his studies. His fields of study at Harvard were psychology and computer science. During the study, he developed an app called ‘The Facebook’. That was the beginning of Facebook today. Zuckerberg left the prestigious university without completing his studies to focus on the project. Zuckerberg was born on May 14, 1984, at the age of 37. Current assets are $ 12.2 billion. Tesla owner Elon Musk is the world’s richest man with a net worth of $ 211 billion. Former Amazon CEO with $ 18.6 billion Jeff Bezos is in second place. Zuckerberg slipped to fifth place, with Bernard Arnold with $ 15.3 billion and Bill Gates with $ 12.4 billion in third and fourth place, respectively.

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