Zuckerberg loses $19bn in 3 weeks – $7bn of that on ‘outage’ Monday

Felix AdinkraOctober 5, 2021

78 1 minute read

Mark Zuckerberg has dropped from third to the fifth-richest man in the world

Mark Zuckerberg’s net worth is nosediving amid revelations from a whistleblower and Monday’s widespread Facebook outages.

Zuckerberg’s net worth dipped by $7 billion in a matter of hours as a stock selloff prompted Facebook to fall by roughly 5%.

Zuckerberg’s wealth has now dropped to $120.9 billion, making him the fifth-richest person in the world behind Bill Gates, according to Bloomberg’s Scott Carpenter.

Zuckerberg had previously risen as high as No. 3 on Bloomberg’s Billionaires Index, but his net worth has been sliding for several weeks: Since September 13, Zuckerberg has lost $19 billion, according to Bloomberg.

Reports of issues accessing Facebook — as well as Facebook-owned platforms Messenger, Instagram, and WhatsApp — arose around 11:45 a.m. ET on Monday, according to user reports on Downdetector.

Facebook said in a tweet that it is currently “working to get things back to normal as quickly as possible.”

According to Ryan Mac, a technology reporter at The New York Times, the outages are affecting Facebook’s internal platforms as well, which Instagram chief Adam Mosseri seemed to confirm in a tweet: “it does feel like a snow day,” he wrote.

But prior to Monday’s outage, Facebook was the subject of a series of blistering Wall Street Journal reports based on a trove of internal documents, which revealed that Facebook knew about a range of issues with its platforms, including how Instagram affects teenage girls and the rise of white nationalist content on Facebook.