Following a widespread outage affecting Facebook and Instagram, Meta CEO Mark Zuckerberg saw his net worth decrease by nearly $3 billion in just one day.
Summary:
- Mark Zuckerberg’s wealth decreased by $2.79 billion due to a decline in Meta shares.
- The outage impacted Facebook, Instagram, and Threads.
- The outage lasted for approximately one hour on Tuesday.
Meta CEO Mark Zuckerberg experienced a significant loss of nearly $3 billion in a single day following a global outage affecting the company’s flagship platforms, Facebook and Instagram.
Zuckerberg’s net worth decreased by $2.79 billion within a day, bringing it down to $176 billion on the Bloomberg Billionaires Index. Despite this decline, he retained his position as the world’s fourth-richest individual.
The outage, which lasted for approximately one hour, resulted in a 1.6 percent decline in Meta shares. This decline contributed to the erosion of Mark Zuckerberg’s net worth, with Meta shares closing the overnight trading session on Wall Street at $490.22 apiece.
On Tuesday night, users across Facebook, Instagram, and Threads encountered difficulties accessing these popular social media platforms. Concurrently, Meta Quest users faced log-in issues with their headsets, while certain YouTube users reported encountering errors on the platform.
The disruption persisted for approximately one hour before all applications resumed normal functionality.
During the outage, users were met with “failure to load” error pages on both Instagram and Facebook. While some Instagram users noted being able to view older stories despite the error, many Facebook accounts were automatically logged out during the disruption.
Throughout the outage, social media platform X saw a surge in posts from affected individuals. Notably, X owner Elon Musk took a jab at rival Meta following the outage of its flagship platforms.
“If you’re reading this post, it’s because our servers are working,” Musk quipped in a post on X.