Mark Zuckerberg’s Net Worth Plummets By Almost $7 Billion Due To Facebook Outage

Mark Zuckerberg’s Net Worth Plummets By Almost $7 Billion Due To Facebook Outage

While Facebook’s recent outage has been fixed, Mark Zuckerberg still has to face the financial losses he accrued from the ordeal.

Yesterday (Monday, Oct. 4th), Facebook and its affiliates–such as Instagram and WhatsApp–went down for nearly six hours. Facebook, Instagram, and WhatsApp’s PR teams released statements on the matter through the sites’ official Twitter accounts to acknowledge the worldwide outage.

Additionally, Facebook’s Chief Technology Officer (CTO)–Mike Schroepfer–commented,

“*Sincere* apologies to everyone impacted by the outages of Facebook powered services right now. We are experiencing networking issues and teams are working as fast as possible to debug and restore as fast as possible.”

While the problem has been fixed, the outage caused a lasting, negative impact on Facebook stock and its CEO’s net worth.

As a result of the worldwide outage, Facebook’s co-founder and CEO Mark Zuckerberg’s net worth reportedly suffered a dip of by almost $7 billion. The 37-year-old entrepreneur is now worth about $122 billion, and the drop caused him to fall from the world’s fourth-richest billionaire to the fifth-richest. Reportedly, over the past few weeks, Mark Zuckerberg went from being worth $140 billion to $122 billion.

A large contributing factor to the drop in Zuckerberg‘s net worth is a series of recent drops in Facebook stock. During the outage yesterday (Monday, Oct. 4th), the site’s stock went down by 4.9%. Factoring in this new development, Facebook’s stock has plummeted by about 15% since mid-September.

What do you think about the situation? Comment down below to let us know!

Authored by: Nick Fenley