How much money did Mark Zuckerberg lose due to global outage of Meta platforms?
The hour-long disruption of Meta platforms triggered a 1.6% dip in Meta shares
Meta CEO Mark Zuckerberg faced a staggering loss of nearly $3 billion in the wake of a one-hour global shutdown affecting various popular social media platforms under the company's umbrella, the New York Post reported.
The outage resulted in a decline of $2.79 billion in Zuckerberg's net worth, bringing it down to $176 billion within a single day, as reported by India Today.
Despite the substantial setback, the tech mogul maintains his position as the world's fourth richest person on the Bloomberg Billionaires Index. The hour-long disruption triggered a 1.6% dip in Meta shares, contributing to the erosion of Zuckerberg's overall net worth. Meta shares concluded the overnight trading session on Wall Street at $490.22 apiece.
On Tuesday night, Facebook, Instagram, and Threads users encountered difficulties accessing their accounts, while Meta Quest users faced headset login issues. Concurrently, numerous YouTube users reported errors while navigating the platform.
During the outage, Instagram and Facebook users grappled with "failure to load" error pages, and some could only view older stories, with many Facebook accounts automatically logged out.
Affected users turned to Elon Musk's X, formerly Twitter, to voice their complaints about the issue. Seizing the opportunity, Musk took a jab at rival Meta, mocking the company as its flagship platforms grappled with the disruptive outage.
-
Japanese Yen surges 3% against dollar on suspected Tokyo intervention
-
China's Unitree sets August 10 subscription date for Shanghai IPO
-
EU unveils €10B plan to build massive AI gigafactories to rival US and China
-
Mark Zuckerberg's AI vision fails to lift Meta after earnings miss profit expectations
-
Wall Street slides as Fed keeps interest rates unchanged and AI stocks drop
-
Delta launches free in-flight sports game for passengers
-
Why the US Treasury is buying back $2 billion of its own debt
-
Apple becomes World's second company to hit $5 trillion market value