mark zuckerberg
Mark Zuckerberg, the CEO of Meta, experienced a substantial loss of around USD 3 billion in a single day after a major global outage hit Meta’s social media platforms on Tuesday, March 5th, 2024.
The incident also led to a 1.6% decline in Meta’s share price during the trading session on March 5th. This drop reflects investor concerns about the potential impact of such outages on the company’s future profitability and stability.
Despite the significant decline, Zuckerberg could retain his position as the world’s fourth-richest individual.
The outage reportedly stemmed from technical issues, the exact nature of which have not been publicly disclosed by Meta. However, the incident underscores the vulnerability of social media platforms to technical disruptions and the significant financial and reputational consequences they can entail.
This event serves as a reminder of the delicate balance tech companies like Meta face between maintaining user engagement and ensuring platform stability. While outages are inevitable, companies must prioritize robust infrastructure and contingency plans to minimize their duration and impact.
An outage’s impact on users
Facebook and Instagram users reported “failure to load” error pages when trying to access them. While some Instagram users were unable to view their existing stories due to the error, others were still able to view them.
During the outage, many users were automatically logged out of Facebook.
