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	<title>financial loss &#8211; The Milli Chronicle</title>
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		<title>Zuckerberg loses $6 bln in hours as Facebook plunges</title>
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		<pubDate>Tue, 05 Oct 2021 06:23:58 +0000</pubDate>
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					<description><![CDATA[Washington (Bloomberg) &#8211; Mark Zuckerberg’s personal wealth has fallen by more than $6 billion in a few hours, knocking him]]></description>
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<p><strong>Washington (Bloomberg) &#8211; </strong>Mark Zuckerberg’s personal wealth has fallen by more than $6 billion in a few hours, knocking him down a notch on the list of the world’s richest people, after a whistleblower came forward and outages took Facebook Inc.’s flagship products offline.</p>



<p>A selloff sent the social-media giant’s stock plummeting 4.9 percent on Monday, adding to a drop of about 15 percent since mid-September.</p>



<p>The stock slide on Monday sent Zuckerberg’s worth down to $121.6 billion, dropping him below Bill Gates to No. 5 on the Bloomberg Billionaires Index. He’s down from almost $140 billion in a matter of weeks, according to the index.</p>



<p>On Sept. 13, the Wall Street Journal began publishing a series of stories based on a cache of internal documents, revealing that Facebook knew about a wide range of problems with its products — such as Instagram’s harm to teenage girls’ mental health and misinformation about the Jan. 6</p>



<p>Capitol riots — while downplaying the issues in public. The reports have drawn the attention of government officials, and on Monday, the whistleblower revealed herself.</p>



<p>In response, Facebook has emphasized that the issues facing its products, including political polarization, are complex and not caused by technology alone.</p>



<p>“I think it gives people comfort to assume that there must be a technological or a technical explanation for the issues of political polarization in the United States,” Nick Clegg, Facebook’s vice president of global affairs, told CNN.</p>
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