Mark Zuckerberg loses $6 billion in just hours thanks to Facebook outage

News Network
October 5, 2021

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.

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

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. 

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

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

“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.

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Agencies
April 24,2025

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Karnataka Chief Minister Siddaramaiah on Thursday visited the residence of 35-year-old Bharat Bhushan, in Mathikere, Bengaluru, who was shot dead in front of his family by terrorists in Pahalgam and paid his final respects.

Offering condolences on behalf of all Kannadigas to Bharat Bhushan, the Chief Minister said it is extremely unfortunate that a young, well-educated man like him became a victim of a terror strike.

He strongly condemned the attack as a barbaric and inhuman act.

To facilitate the safe return of Kannada-speaking individuals stranded in Kashmir and to bring back the mortal remains of the deceased, Labour Minister Santosh Lad and a team of officials were immediately dispatched. So far, 175 Kannadigas have been safely brought back to the state.

“It is the government’s duty to protect Kannadigas in difficult times,” the CM stated.

The Karnataka government has announced a compensation of Rs 10 lakh each to the families of the Kannadigas who lost their lives in the recent terror attack in Pahalgam, Kashmir, he added.

“It is the government’s responsibility to completely eradicate terrorism. Our government extends full support to the Centre in eliminating terrorist activities in the country,” CM Siddaramaiah said.

“Killing innocent people in broad daylight and in front of their families is a heinous crime. Similar to the past Pulwama and Balakot incidents, this is a recurrence. Intelligence failure at the Central level may have contributed to this incident as well,” he observed.

The Chief Minister has directed officials to make necessary arrangements for conducting the final rites of Manjunath Rao and Bharat Bhushan with police honours.

The victims from Karnataka include Bharat Bhushan, Manjunath Rao, and Madhusudan (who had settled in Bengaluru, hailing from Andhra Pradesh). Minister for Transport Ramalinga Reddy has met Bharat Bhushan’s family in Bengaluru, while Minister for Education Madhu Bangarappa met Manjunath Rao’s family in Shivamogga and assured them of support. 

Regarding the terror attack in Kashmir, the Chief Minister said the Central government has already initiated certain measures, and the state government will extend complete support for further steps aimed at eliminating terrorism.

Bharat Bhushan had gone on a Kashmir trip with his wife, Dr Sujata, a paediatrician, and toddler son.

The family stated that the gang of terrorists approached him and asked his name. When Bharat told them his name without any fear. The terrorists then asked him to hand over his son to his wife, Sujata. Later, they had asked him whether he was a Hindu or a Muslim. When Bharat said he was a Hindu, he was shot dead.

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News Network
April 11,2025

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Bengaluru, Apr 11: In a significant development, the Karnataka Cabinet on Friday formally accepted the controversial Socio-Economic and Educational Survey, popularly known as the caste census, nearly a decade after it was conducted. The report will be taken up for detailed discussion in a special Cabinet meeting on April 17.

The survey was originally carried out in 2015 by the Karnataka State Commission for Backward Classes under the chairmanship of H. Kantharaj, and finalised in February 2024 by his successor, K. Jayaprakash Hegde. The long-awaited report—comprising 50 volumes of detailed caste- and community-related data—was placed before the Cabinet in a sealed cover, which was opened during Friday’s meeting.

Backward Classes Welfare Minister Shivaraj Tangadagi, while briefing the media, said the report would now be distributed to all Cabinet ministers so they could examine its findings ahead of the April 17 meeting. Though the government did not disclose the contents of the report, it sought to validate the survey’s legitimacy by presenting statistical data.

“As per the 2011 Census, Karnataka’s population was 6.11 crore. By 2015, when the survey was conducted, it had grown to an estimated 6.35 crore. The survey covered 5.98 crore people—a coverage of 94.17 percent,” Tangadagi said.
He added that only 37 lakh people, or 5.83 percent, were left out of the enumeration process.

Highlighting the scale of the operation, the minister said 1.6 lakh government officials participated in the survey. An expert committee was constituted, which developed 54 criteria to guide the data collection. The state government also engaged Bharat Electronics Limited (BEL) to manage the survey data under a ₹43 crore agreement, with the total expenditure reaching ₹165 crore.

Law and Parliamentary Affairs Minister H. K. Patil announced that a special Cabinet session will be held on April 17 to deliberate on the report's contents. When asked about concerns over the completeness of the data, Patil responded, “Even in the national Census, some people are left out. A 94 percent coverage is a very significant achievement.”

The caste census remains a politically sensitive issue in Karnataka. Dominant communities such as the Lingayats and Vokkaligas have questioned the methodology of the 2015 survey, alleging undercounting. In contrast, Other Backward Classes (OBCs) and SC/ST groups have welcomed the report, arguing that it sheds light on social realities long ignored.

The Congress party had pledged to act on the caste census in its manifestos for the 2023 Karnataka Assembly elections and the 2024 Lok Sabha polls. National party leader Rahul Gandhi has also been advocating for a nationwide caste census.

The Cabinet’s acceptance of the report comes just days after Chief Minister Siddaramaiah’s meeting with Rahul Gandhi in New Delhi, and the Congress Working Committee’s session in Ahmedabad.

Six Ministers Skip Cabinet Meeting

At least six ministers were notably absent from Friday’s Cabinet meeting. These included:

    S. S. Mallikarjun and Laxmi Hebbalkar (both Lingayats)

    M. C. Sudhakar and K. Venkatesh (both Vokkaligas)

    R. B. Timmapur (SC)

    Madhu Bangarappa (Idiga community)

However, Minister Patil clarified that despite their absence, all ministers have endorsed the Cabinet’s collective decision, regardless of caste or community affiliations.

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News Network
April 10,2025

Mangaluru: A seemingly harmless YouTube advertisement has cost a Mangaluru man his life savings, after he fell victim to an elaborate investment scam and lost a staggering ₹55 lakh.

According to the police complaint, the victim was lured in by a man named Shardul Jani, who claimed that a trading app called Abans Pro would deliver high returns. On February 11, the man made an initial investment of ₹15,000. A trading account was created for him, which soon began displaying encouraging profits.

Buoyed by these promising numbers and under constant persuasion from the accused, the man was convinced to invest more. Reassured that the money could be withdrawn at any time, he not only continued investing himself but also involved his relatives, who collectively transferred ₹39 lakh into his account for further investments.

Between February 11 and March 27, the victim transferred a total of ₹55 lakh to multiple bank accounts provided by the accused. But when he finally attempted to withdraw the funds, nothing came back. The profits were a mirage—his money had vanished.

Realising he had been conned, the man approached the Bajpe police, who have registered a case and begun an investigation into the fraudulent scheme.

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