Both Facebook and Instagram were almost down for an hour – Photo: File
Washington: Social networking sites Facebook and Instagram experienced a brief shutdown on March 5 around the world, resulting in Mark Zuckerberg’s company Meta suffering a loss of $3 billion and a decline in the company’s shares.
According to India Today’s report, Meta owner Mark Zuckerberg suffered a loss of almost $3 billion a day after the shutdown of Facebook and Instagram around the world.
The report revealed that Mark Zuckerberg’s wealth decreased by $2.79 billion in one day, and the Bloomberg Billionaires Index saw a dip of $17.6 billion, but he remains firmly at fourth place on the list of wealthy individuals worldwide.
Facebook and Instagram were down for more than an hour, leading to a 1.6% decrease in Meta’s shares, resulting in a decrease in Mark Zuckerberg’s wealth.
On the same day, The Wall Street Journal reported that the price of Meta’s shares closed at $490.22 after trading.
The sudden shutdown of Facebook and Instagram presented difficulties for users, and Meta Quest users also faced accessibility issues, along with complaints from several YouTube users.
Social networking sites across the world experienced an hour-long shutdown before being restored, with many posts on Twitter and even Elon Musk joking about rival company Meta.