Amid Facebook outage, Mark Zuckerberg loses $7 billion as shares slip over 5% on Monday

The massive Facebook outage on October 4, 2021, was experienced throughout the world. The three social media and messaging applications including Facebook, Instagram and WhatsApp were down for more than six hours. Facebook alone has around 3 billion monthly active users and while the largest social media platform's services were disrupted for a long time, CEO Mark Zuckerberg's lost almost $7 billion.

Since September 2021, Facebook's shares have been consistently dropping, While initially the drop was experienced due to a whistleblower who unveiled the platform's research about how it plays a role in spreading hate speech and harming people, the global outage accounts for a massive drop on Monday. Along with the drop in stocks of Facebook, Mark Zuckerberg's worth has fallen by nearly $19 billion since September 13, 2021. 

Facebook stock falls by almost 5% on Monday

On Monday, October 4, 2021, Mark Zuckerberg lost $7 billion, bringing down his worth to $120 .9 billion. The stock slide also pushed the Facebook CEO to fifth place on the Bloomberg Billionaires Index, securing a position below Bill Gates. According to Forbes real-time billionaires list, Zuckerberg is currently in the sixth position, losing to Bill Gates and Larry Ellison, and has a total net worth of $116.8 billion. 

The global service disruption was experienced by the users of Facebook, Instagram, WhatsApp, Messenger and Oculus VR platform as well. Reports suggest that Facebook had a Domain Name System error on its main page. Not only did the platforms used by the public experienced an outage, but Facebook's internal data management systems were also out of order, causing a lot of trouble for the employees as well. 

Breaking his silence after the breakdown on Monday, Mark Zuckerberg took to  Facebook and said "Facebook, Instagram, WhatsApp and Messenger are coming back online now. Sorry for the disruption today - I know how much you rely on our services to stay connected with the people you care about." While compiling this report, all the flagship products from Facebook seem to be working fine. The messages sent on WhatsApp during the outage were also delivered earlier this morning. Global down detector reports are also down by a significant margin.