Facebook Shut: Mark Zuckerberg Losses $6bn Wealth
Standard Media Index, an ad measurement firm, said the tech giant was losing around $0.545 million in ad revenue per hour
Facebook, Instagram, and WhatsApp suffered paralysis of around 8 hours that caused a loss of billions of dollars to the wealth of Mark Zuckerberg in a matter of hours.
All social media services, owned by Facebook, have now reconnected around the world but it is being dubbed as the largest failure to date.
Downdetector, which monitors internet problems, said more than 10.6 million reports of inaccessibility were reported from around the globe.
The failure happened around 8:45 pm Pakistan Standard Time (PST) and the global users of the platforms witnessed them paralyzed.
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The hours-long suspension in services has come hours after a whistleblower alleged Facebook prefers profits over malpractices such as hate speech and misinformation.
The outage has a huge impact on the share value as well as the personal wealth of Facebook CEO Mark Zuckerberg.
Facebook’s shares plummeted around 4.9% on Monday following a selloff while the CEO witnessed a drop of $6 billion in his wealth.
The outage and accusations by a whistleblower brought CEO’s net worth down to $121.6 billion, putting him in 5th place in the list of wealthiest people after Bill Gates.
Facebook hasn’t provided any specifics about the nature of the problem neither the company has given an account of how many users were affected globally.
Standard Media Index, an ad measurement firm, said the tech giant was losing around $0.545 million in ad revenue per hour.
Facebook Chief Technology Officer (CTO) Mike Schroepfer offered sincere apologies on his Twitter when the platforms were down and recently confirmed services have returned to normalcy.
