Mark Zuckerberg suffered a loss of $3 billion dollars, Facebook and Instagram shutdown caused financial loss, is Mark Zuckerberg really still the fourth richest man in the world despite the loss, is it perfect to spend a week at Ambani’s house? The owner of the book suffered a financial loss, this and countless other questions like him will be answered.
Mark Zuckerberg incurred a loss of $3 billion as a result of the shutdown of Facebook and Instagram, causing significant financial losses. Despite this loss, is Mark Zuckerberg still the fourth richest person in the world? Did staying at the Ambani residence for a week lead to financial losses for the owner of Facebook? These and numerous other questions will be explored.
Zuckerberg’s Attendance at Ambani’s Wedding Proved Costly
Indeed, Mark Zuckerberg’s attendance at Mukesh Ambani’s residence proved costly, as billions of dollars sank due to the shutdown of Facebook and Instagram. The six-hour shutdown on the night of March 5 deprived Mark Zuckerberg, the world’s fourth richest person, of $3 billion.
🚨🇮🇳 INDIA’S RICHEST SON FLEXES $1 MILLION WATCH TO MARK ZUCKERBERG AND HIS WIFE
Source: DailyMail pic.twitter.com/2V2ZOLSi5L
— Mario Nawfal (@MarioNawfal) March 5, 2024
Mark Zuckerberg Spent A Week In India
Mark Zuckerberg spent a week in India, where he attended the wedding of Mukesh Ambani’s son. During Anant Ambani’s wedding, Mark Zuckerberg and his wife were also prominent on social media. They praised Anant Ambani’s watch.
According to the Bloomberg Billionaires Index, there was a 1.6% decrease in the value of shares of Meta’s flagship platforms Facebook, Instagram, and WhatsApp, and Meta’s share on Wall Street fell to $490.22. Despite the decline in Meta’s shares, Mark Zuckerberg, with assets of $179 billion, remains the fourth richest person in the world.
Facebook and Instagram Accounts Signed Out
Facebook and Instagram accounts of users worldwide were signed out, with users receiving notifications of session expiration. According to users, they were unable to access Messenger and Threads besides Facebook and Instagram.
Password Change Did Not Help
After accounts were signed out, attempts by users to log in again through password change were also unsuccessful. So far, no statement has been issued by Meta regarding this issue. Facebook and Instagram users attempted to log into their accounts but received a message from the applications, denying them permission to log in. They were unable to access their social media pages as usual.
3 Lac Complaints Received Regarding Facebook
The website monitor Downdetector also claimed that there were 300,000 complaints about Facebook’s popularity, and similarly, there were 20,000 complaints about Instagram’s popularity. Both these pages were inaccessible in many countries. The company’s status page also stated that there were obstacles and delays in its production.
It was stated in this message that “We have information about the issue of logging into Facebook. Our engineering team is actively working to resolve this issue.”
Many users gathered on X to ask whether anyone else had encountered it and what the issue might be. Within just six hours, more than 650,000 reports of Facebook not working were received. For Instagram, Downdetector received nearly 150,000 reports that Instagram was not working.
Decrease in Facebook Shares
In addition, Facebook’s shares plummeted on the New York Stock Exchange, recording a decrease of up to five percent. According to analysts, due to the shutdown, the company had to suffer a loss of $500,000 per hour in terms of advertisement revenue. However, Facebook’s rival sites flourished, and during those six hours, the messaging service Telegram, which ranked 56th in app downloads, rose to fifth place from 100th place worldwide.
Benefit to Messaging App Signal from Facebook Shutdown
Furthermore, after the Facebook shutdown, messaging app Signal has claimed to have gained millions of new users. During this time, on social media platforms such as Twitter, where services were fully operational, a flood of criticism and satire against Facebook and other sites occurred, and users expressed their anger and frustration through humorous memes.
Elon Musk after seen Mark Zuckerberg both Instagram down and Facebook down 👇#instagramdown #facebookdown #meta pic.twitter.com/gg1nt4MnPk
— Ashutosh Srivastava 🇮🇳 (@sri_ashutosh08) March 5, 2024
While Facebook, WhatsApp, and Instagram were in deep slumber, Twitter management deemed it appropriate to engage with all users, including new ones. Thus, when Facebook founder Mark Zuckerberg became the subject of memes, people vented their anger through memes, with some users turning to Twitter when they didn’t get responses from friends. However, there was a separate issue brewing on Twitter.
Facebook Not Working in Pakistan
Facebook isn’t just malfunctioning in Pakistan, but in countries where it is operational, users flooded social media with memes when Meta services went down, sparing no one, including Meta’s CEO Mark Zuckerberg. Some users were concerned that they had forgotten the ID password for accounts they had logged into for years, worrying about the state of their accounts. However, fortunately, the closed accounts started working on their own after an hour. While some suspected their accounts were hacked, they breathed a sigh of relief after learning the truth on Twitter.
One user also joked about Mark Zuckerberg’s attendance at the wedding of Indian billionaire Mukesh Ambani’s son. Another user made fun of users who rushed to X (Twitter) after Facebook went down. In Pakistan, X services have been suspended for an indefinite period since February 17 due to unknown reasons.
Facebook Shutdown Was Global in Nature
The shutdown of Facebook and its apps was of a global nature and affected all businesses or apps associated with Facebook. The timing of this shutdown was also unusual, and reports of disruption even reached Facebook headquarters. This shutdown put Facebook technicians to the test, and the prolonged disruption not only affected Facebook’s ability to resolve the issue but also left its own means unsuccessful in solving the problem.
FAQs
Q1. Why did Facebook and Instagram shut down?
The exact cause of the shutdown is still unclear. However, it was a global issue affecting both platforms and resulted in users being unable to access their accounts or use the services.
Q2. How long did the shutdown last?
The shutdown lasted for approximately six hours, causing inconvenience to users worldwide.
Q3. Did Mark Zuckerberg suffer financial losses due to the shutdown?
Yes, Mark Zuckerberg reportedly incurred a financial loss of around $3 billion during the downtime, mainly due to the drop in the value of Meta (formerly Facebook) shares.
Q4. Were other Meta services affected by the shutdown?
Yes, the shutdown impacted all Meta services, including WhatsApp and Messenger, as they are interconnected with the Facebook infrastructure.
Q5. Did the shutdown have any impact on user data or security?
As of now, there have been no reports suggesting that the shutdown resulted in any breaches of user data or security issues. However, Meta is likely conducting a thorough investigation to ensure the integrity of its systems.
Q6. How did users react to the shutdown?
Users took to social media platforms like Twitter to express their frustration and share memes about the situation. Some users also reported concerns about the status of their accounts and the inability to log in.
Q7. Was this shutdown unique, or has it happened before?
While temporary outages are not uncommon for online platforms, the duration and global scale of this shutdown make it relatively unique in recent history.
Q8. Is there any official statement from Meta regarding the shutdown?
Meta has acknowledged the issue and assured users that their engineering team is working to resolve it. However, the company has not provided detailed information about the cause or timeline for the resolution.
Conclusion
the recent shutdown of Facebook and Instagram, along with other Meta services, caused significant disruption for users worldwide and resulted in financial losses for the company’s founder, Mark Zuckerberg. Despite the inconvenience and speculation surrounding the cause of the shutdown, Meta has yet to provide a comprehensive explanation. The incident highlights the interconnected nature of modern social media platforms and serves as a reminder of the importance of robust infrastructure and contingency plans to mitigate such disruptions in the future. As users await further updates from Meta, it underscores the need for transparency and accountability in addressing technical issues of this magnitude.
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