Mark Zuckerberg suffers $3b loss from Facebook, Instagram’s hour-long global shutdown

Mark Zuckerberg suffers $3b loss from Facebook, Instagram’s hour-long global shutdown


Facebook, Instagram and Threads users on Tuesday night faced difficulties accessing their accounts

Meta’s CEO Mark Zuckerberg attends the Senate Judiciary Committee hearing on online child sexual exploitation at the US Capitol in Washington, US, January 31, 2024. 

Meta CEO Mark Zuckerberg suffered a major loss of nearly $3 billion following an hour-long global outage of several popular social media platforms run by the company.

Zuckerberg’s net worth declined by $2.79 billion following Facebook and Instagram’s global shutdown bringing it to $176 billion in a day, India Today reported.

Despite the significant loss, the tech billionaire maintains his position as the world’s fourth richest person on the Bloomberg Billionaires Index.

The outage caused a 1.6% decline in Meta shares, leading to the erosion of his net worth. Meta shares closed the overnight trading session on Wall Street at $490.22 apiece.

Facebook, Instagram and Threads users, on Tuesday night, faced difficulties accessing their accounts on the platforms, while Meta Quest users had headset login issues, and many YouTube users reported errors while using the platform.

During the hour-long outage, Instagram and Facebook users experienced “failure to load” error pages. Some could still view older stories, while many Facebook accounts were automatically logged out.

Affected users flooded Elon Musk’s X, formerly known as Twitter, with posts complaining about the issue.

Musk took the opportunity to once again mock rival Meta after its flagship platforms suffered the outage.



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