Zuckerberg’s Net Worth Drops $3 Billion After Facebook, Instagram Outage

Mark Zuckerberg experienced a huge financial setback when Facebook and Instagram, two of Meta’s flagship platforms, suffered a global outage. This incident led to a sharp decline in Zuckerberg’s net worth, which dropped by nearly $3 billion in just one day.

The outage, which lasted for approximately one hour on a Tuesday, affected not only Facebook and Instagram but also Threads, another social media platform. Additionally, Meta Quest users faced difficulties logging into their headsets. YouTube users also reported errors while using the platform during this period.

During the outage, users encountered “failure to load” error pages on both Instagram and Facebook. Some Instagram users were able to view older stories despite the error, but many Facebook accounts were automatically logged out.

The social media platform X, owned by Elon Musk, saw an influx of posts from individuals affected by the outage. Musk even mocked Meta after its platforms suffered the outage, highlighting the impact of the service disruption.

As a result of the outage, Meta shares declined by 1.6%, closing the overnight trading session on Wall Street at $490.22 apiece. This decline in share value directly impacted Zuckerberg’s net worth, causing it to fall by $2.79 billion to $176 billion, as reported on the Bloomberg Billionaires Index. Despite this loss, Zuckerberg maintained his position as the world’s fourth-richest person.

The outage and its subsequent financial impact on Zuckerberg and Meta highlight the vulnerabilities of major tech platforms and their significant influence on the market and individual wealth.