Meta outage: Zuckerberg loses around $100 million in revenue

Meta outage: Zuckerberg loses around $100 million in revenue

The founder, chairman and CEO of Meta, Mark Zuckerberg, has lost approximately $100 million in revenue due to a massive outage that affected Facebook, Instagram and Messenger on Tuesday globally, a New York-based finance expert said.

The expert tells Daily Mail Meta generates most of its revenue through advertisements, which are shown to users, and with the ‘technical issues’ that took down the platforms, dropped its earnings.

Meta’s share price also fell by 1.5 per cent when issue reports started flooding in around 10am ET, but it has since dropped by 1.6 per cent.

The amount may be insignificant to Meta, which was roughly $ 134 billion in 2023, only 38 per cent of the entire global population is worth $100 million, the Daily Mail says.

According to Reuters, Meta-owned apps were back up on Tuesday after a more than two-hour outage that was caused by a technical issue and impacted hundreds of thousands of users globally.

The disruptions started at around 10 a.m. ET (1500 GMT), with many users saying on rival social media platform X they had been booted out of Facebook and Instagram and were unable to log in.

At the peak of the outage, there were more than 550,000 reports of disruptions for Facebook and about 92,000 for Instagram, according to outage tracking website Downdetector.com.

"Earlier today, a technical issue caused people to have difficulty accessing some of our services. We resolved the issue ... for everyone who was impacted," Meta spokesperson Andy Stone said in a post on X, without elaborating on the issue.

The company has about 3.19 billion daily active users across its family of apps, which also includes WhatsApp and Threads.