NEW DELHI: Mark Zuckerberg, CEO of social media giant Facebook, lost nearly USD 7 billion in a few hours after Facebook, WhatsApp, and Instagram experienced a global outage on Monday.
According to Bloomberg, Zuckerberg fell to the fifth spot on the list of billionaires after Facebook stocks plummeted due to the global outage. With a total net worth of USD 121.6 billion, Zuckerberg has fallen behind Bill Gates.
Notably, a slew of businesses pulled advertising from Facebook Inc.’s network after the social media giant’s apps such as WhatsApp, Instagram, and Messenger experienced a major global outage yesterday.
Previously, Mark Zuckerberg was ranked third on Bloomberg’s Billionaires Index. According to Bloomberg, Facebook’s stock dropped 5% on Monday, adding to a 15% drop since mid-September.
Mark Zuckerberg, CEO of the tech giant Facebook, Whatsapp, and Instagram, has apologised personally to millions of its users worldwide for the disruption in services and stated that services will be restored on Tuesday.
“Facebook, Instagram, WhatsApp, and Messenger are all back up and running,” Zuckerberg wrote on Facebook. “I apologise for the inconvenience today; I understand how much you rely on our services to stay connected with the people you care about,” he said.
WhatsApp stated on Twitter early Tuesday, “Please accept our apologies to anyone who has been unable to use WhatsApp today. We’re slowly and carefully restoring WhatsApp functionality. Thank you so much for your understanding. We will keep you updated as more information becomes available.”
On Monday evening, Facebook, WhatsApp, and Instagram experienced a major global outage, with thousands of users, including those from India, unable to access these digital platforms.
Instagram, a photo-sharing platform, and WhatsApp, a messaging platform, are both owned by Facebook. The outage is thought to have begun around 9 p.m. IST. Users complained that they couldn’t access any of the three services.
“We are aware that some users are experiencing difficulties accessing our apps and products. We are working hard to restore normalcy as soon as possible, and we apologise for any inconvenience “According to a Facebook spokesperson.
The cause of the global outage was not specified by the company. According to a tweet shared by Instagram, “Instagram and friends are having some issues right now, and you may be having trouble using them. Please bear with us; we’re working on it! #instagramdown”.
The microblogging platform Twitter was flooded with tweets about the outage, as users shared posts and memes about it. India has one of the highest numbers of Facebook and other social media platform users.
According to government data released earlier this year, India has 53 million WhatsApp users, 41 million Facebook users, and 21 million Instagram users.