Meta CEO Mark Zuckerberg Loses $3 Billion,
In a significant blow to Meta and its CEO Mark Zuckerberg, a recent hour-long global outage of the company’s popular social media platforms, including Facebook and Instagram, resulted in a staggering $3 billion loss for the tech billionaire.
Facebook, Instagram, and Threads Users Left Stranded During Global Outage
On Tuesday night, users of Facebook, Instagram, and Threads faced difficulties accessing their accounts on these platforms, while Meta Quest users encountered headset login issues. Additionally, many YouTube users reported errors while using the platform during the outage.
Meta Shares Tumble, Eroding Mark Zuckerberg’s Net Worth by $2.79 Billion
The global shutdown caused a 1.6% decline in Meta shares, leading to a substantial erosion of Zuckerberg’s net worth. Meta shares closed the overnight trading session on Wall Street at $490.22 apiece, resulting in a $2.79 billion decrease in Zuckerberg’s net worth, which now stands at $176 billion.
Despite Significant Loss, Mark Zuckerberg Maintains Top Billionaire Ranking
Despite the significant financial setback, Mark Zuckerberg maintains his position as the world’s fourth richest person on the Bloomberg Billionaires Index, underscoring the immense wealth he has amassed as the co-founder and CEO of Meta.
Elon Musk Seizes Opportunity to Mock Rival Meta Amid Outage
During the hour-long outage, as Facebook and Instagram users experienced “failure to load” error pages and some accounts were automatically logged out, affected users took to Elon Musk’s X, formerly known as Twitter, to voice their complaints. Musk, known for his vocal criticism of Meta, seized the opportunity to once again mock his rival after its flagship platforms suffered an outage.
Conclusion,
The hour-long global shutdown of Facebook, Instagram, and other Meta platforms not only disrupted the user experience but also dealt a significant financial blow to the company’s CEO, Mark Zuckerberg. This incident underscores the vulnerability of even the most prominent tech giants and the far-reaching impact that outages can have on their leadership and stakeholders. As Meta navigates the aftermath of this outage, the company will undoubtedly work to fortify its systems and mitigate the risk of similar occurrences in the future.