The overall wealth of Mark Zuckerberg took a hefty hit on Monday after outages took Facebook and its family apps offline for a number of hours.
Despite being some of the most popular social media apps around the world, Facebook, Instagram, WhatsApp, and Facebook Messenger all crashed on Monday afternoon.
As a result, it’s said that Facebook’s CEO lost an estimated $7 billion. As the company did its best to fix the problem and bring Facebook back online, share prices fell by more than five percent. That’s in addition to a drop of nearly 15 percent since mid-September. That means that the company’s overall value dropped from $967 billion on Friday afternoon to $916 billion. When the servers finally did come back online, Zuckerberg posted the following message to everyone on Facebook.
“Facebook, Instagram, WhatsApp, and [Facebook] 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.”
The knock to Zuckerberg’s personal wealth has actually knocked him down a notch on the list of the world’s richest people. He now sits at a net worth of $121.6 billion. That’s down from almost $140 billion in a span of just a few weeks. That figure puts him at No. 5 on the Bloomberg Billionaires Index. He is now just below Bill Gates.
Mark Zuckerberg, Other Facebook Officials Took to Twitter to Offer Their Apologies
It’s somewhat of an ironic turn of events. But Mark Zuckerberg and other employees at Facebook were forced to use Twitter on Monday afternoon to apologize to everyone about the outages with their apps.
“To the huge community of people and businesses around the world who depend on us: we’re sorry,” Facebook tweeted. “We’ve been working hard to restore access to our apps and services and are happy to report they are coming back online now. Thank you for bearing with us.”
The same can be said for Mike Schroepfer, the Chief Technology Officer for Facebook. He apologized on Monday as well. He took to Twitter to issue his apology as the outage entered its fifth hour.
“*Sincere* apologies to everyone impacted by outages of Facebook-powered services right now,” Schroepfer said. “We are experiencing networking issues and teams are working as fast as possible to debug and restore as fast as possible.”
Now, Facebook has not yet officially confirmed how the outage happened. The cause of the outage doesn’t appear to stem from a cyber attack, which many people speculated about online. Not only did people online speculate about a cyber attack, but they also flooded Twitter with memes about the crash.
In the end, however, the outage seems to have something to do with changes made to Facebook’s systems earlier in the day.