Facebook Crisis; Zukerberg loses $6 Billion in hours after the app Outage

Facebook faced unprecedented outages for more than six hours on October 4.   Facebook Inc.’s flagship products offline. The company faced a rare lengthy outage of the apps, sending shares down 4.8% and wiping away billions from CEO Mark Zuckerberg’s fortune. It was reported that Mark Zuckerberg’s personal wealth has fallen by more than $6 billion in a few hours after the outage.

 Users were not able to chat, message, or use any services of the Company apps, Facebook, WhatsApp, and Instagram.  The outage affected internal systems at Facebook, making it impossible for employees to access emails and the internal messaging system known as Workplace, even some doors at company headquarters. Facebook apologized for the failure but did not immediately explain what caused the failure, the largest ever tracked by web monitoring group Downdetector.

The stock slide on Monday sent Zuckerberg’s worth down to $121.6 billion, dropping him below Bill Gates to No. 5 on the Bloomberg Billionaires Index. It was in 2019, that Facebook last suffered a blackout like this when the network shut down for 14 hours.

The decline follows a national broadcast of Whistleblower’s allegations that the social media network is profitable ahead of security. Meanwhile, the Facebook employees said that the outage was caused by an internal mistake in how internet traffic is routed to its systems. The failure was exacerbated by the failure of internal communication tools and other resources that depend on the same network.

Read Also: Facebook India appoints ex-IAS officer Rajiv Aggarwal as head of public policy

Meanwhile, Twitter on October 4 reported higher-than-normal usage, which led to some issues in people accessing posts and direct messages. There were memes and posts on Twitter that were based on the issue faced by Facebook. The video streaming company Netflix shared a meme from its new hit show “Squid Game” captioned “When Instagram & Facebook are down,” that showed a person labeled “Twitter” holding up a character on the verge of falling labeled “everyone.”