Mark Zuckerberg’s personal wealth plummeted by $7 billion in the space of a few hours on Monday, demoting him on the list of the world’s richest people, after outages took Facebook and subsidiary networks offline.
The outage lasted from Thursday morning, leaving many of Facebook’s 2.7 billion without access for around six hours. Instagram and WhatsApp, which are owned by Facebook, were also down during that time. Facebook apologised and chief technology officer Mike Schroepfer blamed “networking issues” for the outage.
The issue saw a huge sell-off of Facebook shares, seeing the company’s stock fall by five percent, adding to a drop of about 15 percent since mid-September.