Mark Zuckerberg Lost $6 Billion When Facebook Services Went Offline For 6 Hours

Mark Zuckerberg Lost $6 Billion When Facebook Services Went Offline For 6 Hours

Mark Zuckerberg has lost over $6 billion in a few hours, pushing him down a notch on the list of the world’s richest people.

Reported first by Bloomberg, this came after the statements made by whistleblower Frances Haugen that spoke about how Facebook would prioritise money over safety of its users.

What made matters worse was the hours of blackout that was caused by a massive outage at Facebook, shutting down access to all of Facebook’s products including the social media platform, Instagram, WhatsApp and even Oculus.

Both issues compounded to result in a selloff causing Facebook’s stock to drop by a considerable 4.9 percent, adding to a 15 percent drop since mid-September.

This drop in stock value got his net worth to 121.6 billion, dropping him below Bill Gates, who sits today at number 5 on the Bloomberg Billionaires Index. In fact, as per the index, he has come down almost $140 billion in just a few weeks.

 

Source: India Times