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Facebook, Instagram Outage Costs Mark Zuckerberg $3 Billion

Meta CEO Mark Zuckerberg's net worth dropped by nearly $3 billion due to a Facebook and Instagram outage. Users faced login issues across Meta platforms, prompting Elon Musk's humorous response on platform X.

Edited By : Aniket Raj | Updated: Mar 6, 2024 11:24 IST
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After Meta’s flagship platforms Facebook and Instagram experienced a widespread outage, Meta CEO Mark Zuckerberg saw his net worth drop by almost $3 billion in a single day, according to the Bloomberg Billionaires Index. Despite this loss, he retained his position as the fourth-richest person globally. The outage, which lasted for about an hour, resulted in Meta shares decreasing by 1.6%, contributing to the decline in Zuckerberg’s net worth. At the end of the overnight trading session on Wall Street, Meta shares closed at $490.22 each.

On Tuesday night, users of Facebook, Instagram, and Threads encountered difficulties accessing these social media platforms. Simultaneously, Meta Quest users experienced login issues with their headsets, and numerous YouTube users reported encountering errors while using the platform. The outage persisted for around an hour before all applications resumed normal functionality.

Also Read: Apple Fined Over Rs 16,000 Crore In Antitrust Case Against Spotify: Reports

Throughout the outage, users experienced “failure to load” error pages on both Instagram and Facebook. Despite the errors, some Instagram users could still access older stories. However, many Facebook users found themselves automatically logged out during the downtime.

The outage prompted affected individuals to flood social media platform X with posts detailing their experiences. Even X owner Elon Musk seized the opportunity to mock Meta, the owner of rival platforms, following the outage. Musk humorously remarked on X, stating, “If you’re reading this post, it’s because our servers are working.”

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First published on: Mar 06, 2024 11:24 AM IST

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