Meta’s millions lost: How much did Zuckerberg lose after Facebook, Instagram global outage

Social media went dark on Tuesday, March 5th, 2024, as a major outage swept across Meta’s platforms globally. Popular social media platforms such as Facebook, Instagram, and WhatsApp all stopped working and reportedly took hours before getting restored. This widespread disruption not only left billions of users disconnected but also had a major financial impact on the company as per experts. Around 10 a.m. ET, issue reports began to pour in, and reportedly Meta’s share price dropped by 1.5 %. However, it has since fallen by 1.6 %.

On Tuesday, many users were suddenly logged out of Facebook, causing confusion and frustration. Instagram, Threads, and WhatsApp also experienced issues, such as feed failures and message-sending problems. Andy Stone from Meta addressed these concerns on X, offering reassurance that solutions were in progress. A statement was issued, “resolved the issue as quickly as possible for everyone who was impacted, and we apologize for any inconvenience.”

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Experts have now disclosed the amount of money that Zuckerberg lost as a result of this massive downtime. Wedbush Securities’ managing director, Dan Ives, told DailyMail.com that Mark Zuckerberg lost about $100 million in income on Tuesday morning as a result of the platforms going down all over the world.

All of Meta’s owned social media platforms faced technical glitches, similar to those in 2021, resulting in a 7-hour outage. However, this time, the issue was resolved within 2 hours. A Facebook insider informed DailyMail.com that their internal systems were down during the outage, with Meta’s service dashboard indicating “major disruptions” across several services.”

The outage occurred shortly before the deadline on Thursday for Big Tech companies to adhere to the new Digital Markets Act of the European Union. It’s been speculated that Meta was making changes to comply, which could have led to coding errors that caused the outage. Meta might be exploring changes like allowing users to separate their Facebook and Instagram accounts to prevent combining personal data for targeted ads. It’s unclear if the outage is connected to Meta’s preparations for the DMA.