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Wednesday, April 24, 2024

“Financial Rollercoaster: How Mark Zuckerberg’s Wealth Suffers in the Wake of Facebook, Instagram Downtime”

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Following a global outage of Facebook and Instagram on Tuesday, Meta CEO Mark Zuckerberg witnessed a nearly $3 billion decrease in his net worth within a day.

Meta CEO Mark Zuckerberg experienced a nearly $3 billion loss in a single day as Facebook and Instagram, the company’s flagship platforms, encountered a worldwide outage. Zuckerberg’s net worth saw a decline of $2.79 billion, reaching $176 billion on the Bloomberg Billionaires Index. Nevertheless, he maintained his position as the fourth-richest individual worldwide.
After the hour-long global outage, Meta witnessed a 1.6 per cent decline in shares, contributing to the reduction in Mark Zuckerberg’s net worth. The overnight trading session on Wall Street concluded with Meta shares closing at $490.22 each.

On Tuesday night, users of Facebook, Instagram, and Threads faced challenges accessing these social media platforms. Concurrently, Meta Quest users experienced difficulties logging in to their headsets. Notably, numerous YouTube users reported encountering errors while using the platform. The outage lasted for about one hour before all applications resumed normal functionality.

Users faced “failure to load” error pages on Instagram and Facebook throughout the outage. While some Instagram users were able to view older stories despite the error, many Facebook accounts were automatically logged out.

Amid the outage, individuals affected by the disruption flooded social media platform X with posts. Elon Musk, the owner of X, took the opportunity to mock rival Meta following the outage of its flagship platforms.

Musk humorously stated in a post on X, “If you’re reading this post, it’s because our servers are working.”

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