Mark Zuckerberg loses $3 billion after Facebook, Instagram global outage (2024)

Meta CEO Mark Zuckerberg lost nearly $3 billion in a day after the company’s flagship platforms Facebook and Instagram faced a global outage.

Zuckerberg’s net worth declined by $2.79 billion in a day to $176 billion on the Bloomberg Billionaires Index, but he maintained his position as the world’s fourth-richest person.

Following the hour-long global outage, Meta shares declined 1.6 per cent, leading to the erosion in Mark Zuckerberg's net worth. Meta shares closed the overnight trading session on Wall Street at $490.22 apiece.

Users of Facebook, Instagram, and Threads experienced difficulties accessing the social media platforms on Tuesday night.

Additionally, Meta Quest users encountered issues logging in to their headsets. Many YouTube users also noted encountering an error while using the platform.

The outage persisted for approximately one hour before all applications returned to normal functionality.

During the outage, users reported encountering "failure to load" error pages on both Instagram and Facebook. Some Instagram users noted that they could still view older stories despite the error. However, many Facebook accounts were automatically logged out during the outage.

During the outage, social media platform X was flooded with posts from affected individuals. X owner Elon Musk even mocked rival Meta after its flagship platforms suffered the outage.

"If you’re reading this post, it’s because our servers are working," Musk said in a post on X.