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Zuckerberg Lost An Astonishing Amount Of Money During Facebook Crash As Net Worth Nosedives

by : Julia Banim on : 05 Oct 2021 08:12
How Many Billions Zuckerberg Lost During Facebook CrashAlamy

People from all over the world were left confused and panicked after Facebook, WhatsApp and Instagram crashed simultaneously, wondering whether to communicate with their group chats via postcards instead.

Fortunately, the issue now appears to have been resolved, with Facebook revealing in a blog post that communication had been interrupted by ‘configuration changes on the backbone routers that coordinate network traffic between our data centers’.

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However, despite services being now back up and running – with ‘no evidence that user data was compromised as a result of this downtime’ – the outage has had a bigger effect than just throwing a spanner in the gossip works.

It would appear that Facebook CEO and co-founder Mark Zuckerberg is having a particularly bad day, having seen his personal wealth tumble by billions in just a few short hours because of the outage.

The hit has been so dramatic, 37-year-old Zuckerberg has actually slid down to fifth place on the Bloomberg Billionaires Index, just below Microsoft co-founder Bill Gates, Bloomberg reports.

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Losing roughly $6 billion because of yesterday’s crash, Zuckerberg’s wealth now sits at ‘just’ $121.6 billion, having also dropped from $140 billion in just a matter of weeks due to a range of factors.

A selloff reportedly sent Facebook’s stock falling by 4.9% on Monday, October 4, contributing to a 15% drop seen since mid-September.

This comes as Facebook contends with the fallout of a whistleblower, who revealed themselves on Monday, two weeks after the Wall Street Journal started publishing a various stories based on supplied internal documents.

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These documents alleged that Facebook had been aware about various issues with its platforms, including the damaging effect of Instagram on the mental health of teenage girls, and misinformation shared concerning the Capitol riots of January 6.

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Julia Banim

Jules studied English Literature with Creative Writing at Lancaster University before earning her masters in International Relations at Leiden University in The Netherlands (Hoi!). She then trained as a journalist through News Associates in Manchester. Jules has previously worked as a mental health blogger, copywriter and freelancer for various publications.

Topics: Technology, Facebook, Instagram, Mark Zuckerberg, Money, Now, Wealth, whatsapp

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Facebook and 1 other
  1. Facebook

    Update about the October 4th outage

  2. Bloomberg

    Zuckerberg Loses $6 Billion in Hours as Facebook Plunges