Zuckerberg loses $7 billion as Facebook plunges on Monday
The Facebook CEO was downgraded to the fifth-richest person in the world on Monday as his company battled major technical issues.
- Oct 05, 2021,
- Updated Oct 05, 2021, 12:21 AM IST
The Facebook CEO was downgraded to the fifth-richest person in the world on Monday as his company battled major technical issues.
Mark Zuckerberg's net worth dropped by $7billion amid worldwide Facebook, Instagram and WhatsApp outages on Monday
Facebook, Instagram and WhatsApp - all owned by the former - began experiencing problems at around 9:04 IST, according to online outage trackers.
ALSO READ: Heroin worth over Rs 1 Crore seized in Mizoram’s Champhai
The issues caused Facebook's share price to plummet by five percent.
Zuckerberg's net worth in turn dropped by a stunning $7billion to $120.9billion. He subsequently fell one slot on the Bloomberg Billionaires Index behind Bill Gates, who previously held the fifth position.
The substantial loss in a matter of hours was compounded with a 15 percent drop in Facebook stock since mid-September.
The iOS and Android versions of the Instagram and Facebook apps opened but did not load users' feeds or show them new content.
WhatsApp messages not reaching their recipients, with sent texts sitting with a clock icon next to them to indicate that they haven't been dispatched.
Twitter users were quick to mock the Facebook outages - before that site began experiencing problems of its own.