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Facebook share price plummets: Social media giant suffers devastating 5 percent drop | City & Business | Finance

The social media giant is down across the world, causing issues for millions of users. Along with Facebook, Instagram and WhatsApp are also down.

Facebook has seen a fall in its share price by 5.76 percent.

Bloomberg suggests Mark Zuckerberg has lost an estimated $7billion in a mere few hours.

Since September, the company is estimated to have lost around 15 percent in share price.

Bitcoin’s official magazine took to Twitter to share the news they had surpassed Facebook in market cap during their plummet in share price.

Bitcoin Magazine tweeted: “#Bitcoin just surpassed Facebook in market cap.
“They are down today, literally.

“In the past year, #Bitcoin is up over 360 percent, compared to Facebook which is only up 22 percent.”

Many Twitter users were quick to tweet about how much Mark Zuckerberg’s personal wealth had plummeted.

Nkanyezi, a musician, had been tweeting regularly about the social media giants being down.

When the social media sites originally went down, Nkanyezi tweeted: “Wtf? is whatsapp, facebook and instagram down?”

In relation to Mr Zuckerberg’s personal wealth, Nkanyezi tweeted: “Since whatsapp, facebook & Instagram are down.”

“Instagram are down. Mark Zuckerberg lost $50 billion in value today.”

Mr Zuckerberg’s personal wealth being reduced by an estimated $7billion is likely to impact the list of the richest billionaires in the world.

According to Forbes, Mr Zuckerberg has now fallen to sixth in the Forbes list of billionaires.

Top of the list remains Jeff Bezos, founder of e-commerce giant Amazon.

Facebook released a recent update about the site being down.

The update reads: “Sincere apologies to everyone impacted by outages of Facebook powered services right now.

“We are experiencing networking issues and teams are working as fast as possible to debug and restore as fast as possible”


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