Business World

Facebook Down: Mark Zuckerberg loses nearly $6 billion due to outage

Facebook’s share price walloped by outage, stripping billions out of company CEO Mark Zuckerberg’s personal fortune.

Business publication Forbes reported that Zuckerberg has lost US$5.9 billion off the back of the global outage of Facebook, Instagram and Whatsapp.

This still leaves Zuckerberg with a cool fortune of around US$117 billion.

The company’s share price slipped 4.8 per cent off the back of the outage.

The outage will also prove expensive for Facebook from a sales perspective. The company is understood to make around US$330 million a day from advertising sales and this part of the business has been completely disabled by the blackout.

Websites and apps often suffer outages of varying size and duration, but hours-long global disruptions are rare. The company in a statement said ‘faulty configuration’ downed it’s services.

If history is anything to go by, Facebook stock should recovers relatively quickly once the service resumes.