Mark Zuckerberg lost more than $7 billion after Facebook went down on Monday
In just a few hours after WhatsApp, Facebook and Instagram crashed on Monday evening, Facebook CEO Mark Zuckerberg is said to have lost nearly $7 billion.
The loss even made his position in the list of the richest people in the world to drop, according to the Bloomberg Billionaires Index.
Facebook stock fell as much as 4% on Monday sending Zuckerberg’s worth down to $121.6 billion. He’s down from almost $140 billion in a matter of weeks, Bloomberg reports.
On Monday evening, WhatsApp, Facebook, Instagram, and Facebook Messenger all went down. Users from different parts of the world reported not being able to access the apps for more to six hours.
Facebook said the downtime was caused by a faulty configuration change. The services are now back online.
“To the huge community of people and businesses around the world who depend on us: we’re sorry,” Facebook said in a statement.
“We’ve been working hard to restore access to our apps and services and are happy to report they are coming back online now. Thank you for bearing with us.”
Facebook’s chief technology officer, Mike Schroepfer, also apologized in a statement posted on Twitter.
“Sincere apologies to everyone impacted by outages of Facebook-powered services right now,” Schroepfer wrote. “We are experiencing networking issues and teams are working as fast as possible to debug and restore as fast as possible.”
The outage also comes a day after a former Facebook employee, Frances Haugen, leaked internal documents about the company. The whistleblower called out Facebook CEO for not doing enough to prevent hateful content from spreading on the platform.
In an interview with “60 Minutes,” Frances Haugen, revealed that Facebook executives understood the negative impacts of Instagram among younger users. She also revealed that Facebook’s algorithm enabled the spread of misinformation, among other things.
‘’Facebook has realized that if they change the algorithm to be safer, people will spend less time on the site, they’ll click on less ads, they’ll make less money’’ she said.
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