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$50 billion wiped off Facebook's market capitalisation after global outage
short by Kiran Khatri / on Tuesday, 5 October, 2021
Facebook's market capitalisation fell by nearly $50 billion as the company's shares plunged amid a global outage of Facebook, WhatsApp and Instagram. An estimate by Fortune suggests that Facebook lost revenues of roughly $99.75 million during the outage that lasted for more than six hours on Monday. Facebook CEO Mark Zuckerberg's net worth also fell by over $6 billion.