Tuesday, May 28, 2024

Meta Outage Costs Zuckerberg Nearly $3 Billion in Net Worth Plunge

During a widespread hour-long outage that affected Meta's social media platforms, CEO Mark Zuckerberg suffered a substantial loss of almost $3 billion in net worth, according to India Today.

Zuckerberg's net worth experienced a sharp decline of $2.79 billion due to the global shutdown of Facebook and Instagram, bringing his total net worth down to $176 billion within a single day. Despite this setback, he maintains his position as the fourth richest person globally, as per the Bloomberg Billionaires Index.

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Read also: Global Outage: Meta's Platform Facebook, Instagram, and Messenger Down

The outage triggered a 1.6% dip in Meta shares, contributing to the erosion of Zuckerberg’s overall net worth, with Meta shares closing at $490.22 per share during the overnight trading session on Wall Street.

Users of Facebook, Instagram, and Threads encountered difficulties accessing their accounts, while Meta Quest users faced login issues with their headsets. Additionally, numerous YouTube users reported errors while using the platform.

Throughout the outage, Instagram and Facebook users were confronted with “failure to load” error pages, with some users automatically logged out of their Facebook accounts or experiencing limited access to older stories.

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Frustrated users turned to Elon Musk’s X (formerly known as Twitter) to voice their complaints, with Musk taking the opportunity to taunt rival Meta after its flagship platforms experienced a significant outage.

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Izaan Zubair
Izaan Zubair
With a passion and curiosity for technology, Izaan is a seasoned writer with four years of experience. His expertise lies in translating complex tech updates into engaging stories. Beyond technology, Izaan keeps a finger on the pulse of worldly news, crafting exclusive narratives that inform and inspire his readers.

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