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Mark Zuckerberg loses $3 billion following Meta’s global outage


Mark Zuckerberg loses $3 billion

Mark Zuckerberg, founder and CEO of Meta, lost nearly $2.79 billion in a single day, bringing his net worth to USD 176 billion, but remains the fourth richest person globally.

An estimated $3 billion was lost by Meta during a significant worldwide outage that affected billions of users on Tuesday, March 5, 2024, according to an article by India Today. According to NASDAQ, the Meta stock concluded the March 5 trading session down 1.6% at USD 490.22.

The founder, chairman, and CEO of Meta, Mark Zuckerberg, lost almost $2.79 billion in a single day, bringing his new net worth to USD 176 billion, according to the Bloomberg Billionaires Index. Despite this, he is still the fourth richest person in the world.

Reuters claims that the application programming interface for WhatsApp Business was having problems, as evidenced by Meta’s status dashboard. On Downdetector, which analyzes outages by compiling status data from multiple sources, including users, there were almost 200 complaints of WhatsApp disruptions.

Elon Musk made fun of Meta in a post on X, coinciding with the global outage that affected Instagram, Facebook, Threads, and Messenger services, causing users to struggle to access their accounts. The outage lasted for more than thirty minutes. Login issues on Facebook, Instagram, Threads, and Messenger apps were reported globally, indicating widespread issues. Meta’s quarter-end results exceeded Wall Street’s projections, leading to a 20% share increase and a wealth increase of USD 27.1 billion for the Facebook co-founder in February 2024.

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