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Facebook’s Mark Zuckerberg loses $5.9b due to outage

Facebook’s share price has been walloped by today’s 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.

The company did not say what might be causing the outage, which began around 11.45am ET Monday (4.45am NZT today). Websites and apps often suffer outages of varying size and duration, but hours-long global disruptions are rare.

But this isn’t the only factor weighing on Facebook stock at the moment. — NZherald

 

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