Mark Zuckerberg's net worth drops $2.7 bn after Facebook, Instagram outages

Mark Zuckerberg's net worth took a hit of 2.2 per cent to stand at $176 billion. However, the 39-year-old tech mogul remained the world's fourth richest person on the Bloomberg's list

Following the widespread outage caused on Meta-owned platforms Facebook and Instagram on Tuesday evening, CEO Mark Zuckerberg's net worth declined $2.7 billion to $176 billion, the Bloomberg Billionaires Index showed on Wednesday.

Following the incident, Zuckerberg's net worth took a hit of 2.2 per cent. However, the 39-year-old tech mogul remained the world's fourth richest person after Amazon founder Jeff Bezos, Bernard Arnault and Elon Musk, the data showed.

The index maps the daily ranking of the world's wealthiest people based on the figures concluded at the close of every trading day in New York.

Hour-long outage on Meta platforms

The development followed after the world's largest social media network - Facebook - and its sister platforms Instagram, Threads, and Messenger faced widespread outages a day before. Users reported experiencing about hour-long outages related to login sessions in multiple countries.

Andy Stone, Meta's head communications, had confirmed the issues on Musk's platform 'X' (formerly Twitter) and said the company is working on this now. The users bombarded posts related to the outages on 'X' and said that they were unable to refresh their Instagram and Threads feeds. For Facebook, its users complained of being logged out of their accounts and unable to log back in.

About two hours after his initial post, Stone later said on 'X' that the "technical issues" on various Meta platforms were resolved. "Earlier today, a technical issue caused people to have difficulty accessing some of our services. We resolved the issue as quickly as possible for everyone who was impacted, and we apologise for any inconvenience."