Mark Zuckerberg, the founder and Chief Executive Officer of Facebook, lost over $6 billion in personal wealth following a rare lengthy Facebook outage on Monday.
The global five-hour outage sent the shares of Facebook down 4.8%, decreasing Zuckerberg’s fortune to a mere $117 billion in total, and sending him below Bill Gates to No. 5 in the world’s richest list.
The other matter weighing on Facebook is Tuesday’s Congressional hearing, where a former product manager, Frances Haugen, will testify about her decision to become a whistleblower and leak internal data to the Wall Street Journal, according to Forbes.
It is yet not clear what caused the outage, but the MailOnline, quoting one expert reported the problem may have been caused by an internal error made by staff that effectively erased the site from the internet.
It’s not the first time Facebook has faced a global outage. A disruption in 2019 left Facebook and its other apps inaccessible globally for almost 14 hours.
The blackout in 2019 followed almost a decade later the social media giant went black for a day.