Mark Zuckerberg loses $7 billion in hours after the major outage

Mark Zuckerberg has lost $7 billion in hours after the major outage. Facebook owner’s net worth has dropped to $120.9 billion, putting him behind Bill Gates at No. 5 on the Bloomberg Billionaires Index. This recent drop occurred after a whistle-blower came forward and outages knocked Facebook’s essential products offline for more than 6 hours on Monday.

It could be recalled that Mark Zuckerberg’s major programs including, Facebook, Instagram, WhatsApp, and Messenger, went offline on Monday, October 4, 2021. As a result, the social media giant’s stock dropped more than 5% [$7 billion ] in a matter of hours, bringing its total loss since mid-September to roughly 15%.

According to the index, Zuckerberg’s net worth had dropped by roughly $19 billion since September 13, when he was valued at $140 billion.

On Monday, Facebook’s 3.5 billion users could not access its social media and messaging services such as WhatsApp, Instagram, and Messenger due to a “faulty configuration change,” according to Facebook.

The corporation did not say who made the configuration change or whether it was planned in a blog post published late Monday.

The outage was costly for Facebook in terms of revenue.

The firm’s advertising sales are estimated to be around US$330 million per day, and the blackout has rendered this component of the business completely unusable. Facebook’s market valuation decreased by around $50 billion due to a global outage of Facebook, WhatsApp, and Instagram.

Other social media platforms benefited from Facebook’s loss. During the extended outage of Facebook’s network of apps and services, Signal and Telegram, two private communication apps, saw a surge in downloads and user sign-ups.

This story is attributed to Nelson Ikechukwu Nworie. Nelson is a specialist in digital marketing and business development. He is highly skilled in content creation, social media designing, lead generation, and identifying new digital ideas.  Nelson is a team player, an active thinker, and an open-minded personality who tackles work with a positive mindset.