Mark Zuckerberg lost 3 billion dollars due to the short shutdown of Facebook, Instagram

Mark Zuckerberg lost 3 billion dollars due to the short shutdown of Facebook, Instagram

News By Mar 07, 2024 No Comments


Both the Facebook and Instagram websites were down for about an hour—Photo: File

Washington: Mark Zuckerberg’s company Meta lost $3 billion and the company’s share price also fell due to the brief shutdown of social networking websites Facebook and Instagram on March 5 worldwide.

According to a report by India Today, Meta owner Mark Zuckerberg lost around $3 billion a day after the worldwide shutdown of Facebook and Instagram.

Mark Zuckerberg’s wealth fell by $2.79 billion in one day and $176 billion in the Bloomberg Billionaires Index, but he remains the fourth richest person in the world, the report said.

Facebook and Instagram were shut down for more than an hour, causing Meta’s share price to drop 1.6 percent, reducing Mark Zuckerberg’s fortune.

Meta’s shares closed the day at $490.22 after trading on Wall Street.

The sudden outage of Facebook and Instagram caused problems for users and similarly MetaQuest users also faced access problems, besides many YouTube users also complained.

The world-famous social networking website was restored after being shut down for about an hour, with several posts on X and even X owner Elon Musk poking fun at rival company Meta.





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