"With Facebook, WhatsApp, Instagram and Messenger down for over one hour and counting, the Cost of Shutdown Tool (COST) calculates a rough estimate of ~$160m in losses to the global economy," NetBlocks wrote on Twitter.
The organization reports that the social networks and messenger "are currently experiencing outages in multiple countries; incident not related to country-level internet disruptions or filtering."
Facebook founder Mark Zuckerberg himself has lost some $6.6 billion due to the disruptions and fell to the sixth place in the list of the richest people in the world, according to the Forbes Real-Time Billionaires List.
The hourslong global outage appeared to be corrected after platforms were down for nearly seven hours, with Facebook issuing a statement that said: "we’ve been working hard to restore access to our apps and services and are happy to report they are coming back online now."
A follow-up statement issued by Facebook Chief Technology Officer Mike Schroepfer acknowledged that it "may take some time to get to 100%," before offering apologies to businesses and individuals who depend on the platform.