Mark Zuckerberg’s net worth dropped by $7billion amid worldwide Facebook, Instagram and WhatsApp outages.
The Facebook CEO was downgraded to the fifth-richest person in the world on Monday as his company battled major technical issues.
Facebook, Instagram and WhatsApp – all owned by the former – began experiencing problems at around 11.45am EST, according to online outage trackers.
The issues caused Facebook’s share price to plummet by five percent, Bloomberg reported.
Mark Zuckerberg’s net worth, in turn, dropped by a stunning $7billion to $120.9billion. He subsequently fell one slot on the Bloomberg Billionaires Index behind Bill Gates, who previously held the fifth position.
The substantial loss in a matter of hours was compounded with a 15 percent drop in Facebook stock since mid-September.
On the whole, Zuckerberg’s net worth has dropped by about $19billion since September 13, Bloomberg reported.
Also contributing to Monday’s stock decline were claims from whistleblower Frances Haugen, who went public on Sunday about how Facebook puts profits above ethics.