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 A 5 hour outage costs Facebook founder Mark Zuckerberg $6 billion

An outage of Facebook Inc's global service caused its social media platforms to be unavailable for most of the day on Monday, the technology giant announced.

In the company's words, the issues were caused by issues with its network configurations, but it has also stated that no user data was compromised as a result of the outages.

As previously reported, the technical outage caused Facebook's main social networks, WhatsApp, Instagram, and Facebook Messenger services was unavailable for the longest period of time in the company's recent history, lasting more than 12 hours.

When it comes to social interaction, Facebook has evolved into a suite of services that more than 2.75 billion people use on a daily basis for a variety of purposes. Service interruptions have caused widespread concern, with people flocking to other social networks in order to continue their conversations.

The unfortunate occurrence, according to the company, had caused damage to its internal tools and messaging systems, making it significantly more difficult for engineers to locate and correct the issue. It was necessary to travel to the server facility and restart the majority of the servers in order to resolve the underlying problems.

The Chief Executive Officer of Facebook, Mark Zuckerberg, issued an apology in a late-night post after the services were restored, writing, "I'm sorry for the disruption today; I understand how much you depend on our services to stay connected with the people you care about."

One of the many cascading events that the company is currently dealing with is a service outage, which is just one example.

On CBS, a former employee turned whistleblower accused the company of prioritizing profits over the safety of its customers and other users. Also scheduled to appear before a Senate subcommittee is Frances Haugen, a former Facebook employee who has promised to reveal shocking information about the social media giant..

Combined with the service outage that the company experienced yesterday, these unfolding events have had a negative impact on the company, causing its stock prices to plummet and the company's market capitalization to plummet by billions of dollars.

Because investors were unsure how long the site would be unavailable, they panicked and sold off their holdings, causing the company's stock to drop nearly 5 percent, bringing its total loss since mid-September to approximately 15 percent.

However, this decline in value has had an impact on more than just the company and its stock price; Mark Zuckerberg has fallen to No. 5 on the Bloomberg Billionaires Index as a result of the decline in value of the company.

As a result of Facebook's decline, other social media platforms saw an increase in their user numbers. As a result of Jack Dorsey's endorsement of Signal as a WhatsApp replacement, the messaging app gained millions of new users on the same day. Telegram, which works in the same way as WhatsApp, rose 55 spots in the download rankings.

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