Mark Zuckerberg’s $100 Million Loss: Meta’s Global Outage

On Tuesday, March 5th, 2024, the digital world was thrown into disarray as a major outage swept across Meta’s platforms globally, leaving billions of users disconnected and frustrated. Popular social media platforms such as Facebook, Instagram, and WhatsApp all stopped working, causing widespread disruption and financial repercussions for the company founded by Mark Zuckerberg and others.

The Outage Unfolds

Around 10 a.m. ET, reports began flooding in as users across the globe found themselves unable to access their favorite social media platforms. Facebook, Instagram, Threads, and WhatsApp experienced a range of issues, including logouts, feed failures, and message-sending problems. The outage persisted for several hours, leaving users in limbo and fueling speculation about the cause of the disruption.

Financial Impact and Losses

Mark Zuckerberg, the CEO of Meta, reportedly lost around $100 million in income during the outage, according to Wedbush Securities’ managing director, Dan Ives. This significant loss underscores the magnitude of the disruption caused by the outage, which led to Meta’s share price dropping by 1.5% initially and then by 1.6% as the outage persisted.

Technical Glitches and Rapid Response

The outage bore eerie similarities to the 2021 outage that lasted for 7 hours. However, this time, Meta’s technical teams swiftly resolved the issue within 2 hours. Andy Stone from Meta addressed users’ concerns, offering reassurance that solutions were in progress and expressing regret for the inconvenience caused.

An insider revealed that Meta’s internal systems were also affected during the outage, with the service dashboard indicating “major disruptions” across several services. The swift resolution suggests that Meta’s technical teams were prepared to tackle such challenges, albeit with significant financial repercussions.

Speculation and Connection to Regulatory Changes

The timing of the outage, occurring shortly before the deadline for Big Tech companies to adhere to the new Digital Markets Act of the European Union, has sparked speculation about its connection to Mark Zuckerberg and the company’s preparations for regulatory compliance. Changes, such as allowing users to separate their Facebook and Instagram accounts to prevent the combination of personal data for targeted ads, are being explored by Meta in response to the new regulations.

While it remains unclear if the outage was directly related to Meta’s compliance efforts, the incident underscores the fragility of digital infrastructure and the potential ripple effects of regulatory changes on major tech platforms.

In conclusion, the global outage of Meta’s platforms serves as a stark reminder of the interconnectedness of the digital world and the need for robust infrastructure and regulatory compliance in the face of evolving challenges. As users and companies navigate the complexities of the digital landscape, resilience and adaptability will be key to weathering future disruptions.


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