Facebook stock has largely proven teflon during other crises but took a hit on Monday.
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Commerce hearing about Facebook on Capitol Hill in Washington, DC, April 11, 2018. / AFP PHOTO / SAUL LOEB Investor confidence in Facebook weakened a bit on Monday amid continued political pressure and a rare lengthy outage of the company’s apps, sendings shares down 4.8% and zapping away billions from CEO Mark Zuckerberg’s fortune.
Zuckerberg’s fortune declined by $5.9 billion to a mere $117 billion in total. Top lieutenent Sheryl Sandberg saw her wealth fall to $1.9 billion.of its namesake platform, Instagram and WhatsApp, a mistake likely costing the company tends of millions of dollars in revenue. Facebook last suffered a blackout like this in 2019, when the network shut down for 14 hours. A decade earlier, in 2008, it went dark for a day.
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