Mark Zuckerberg has seen his net worth drop by $7billion following global Facebook, Instagram and WhatsApp outages.
This has resulted in Facebook CEO dropping to the fifth-richest person in the world on Monday as his company battled major technical issues.
Zuckerberg’s apps Facebook, Instagram and WhatsApp all started experiencing problems on Monday.
The issues caused Facebook’s share price to fall by five percent, Bloomberg reported.
In turn, Zuckerberg’s net worth 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.
Facebook’s share price could continue to fall as the company struggles to alleviate outages.