Mark Zuckerberg's Meta loses $3 billion after Instagram, Facebook global outage, company's share price tumbles
Elon Musk took a jibe at Meta in a post on X. Several Facebook, Instagram, Threads and Messenger platforms experienced login issues.
The issues were being reported from across the world, suggesting that the outage could be global. Taking a jibe at Meta, Elon Musk said, “If you’re reading this post, it’s because our servers are working," prompting immediate reactions from users on X, a platform formerly known as Twitter.
In February 2024, the Facebook co-founder’s net worth surged by USD 27.1 billion after Meta’s quarterly results far exceeded Wall Street’s expectations, sending its shares up about 20 per cent. He became worth USD 169.5 billion, the richest he’s ever been, and surpassed Bill Gates to move into the fourth spot on the Bloomberg Billionaires Index.
Meta announced a quarterly cash dividend of 50 cents a share for Class A and B common stock beginning in March. With Zuckerberg holding about 350 million shares, he would take home about $175 million in each quarterly payment before taxes, according to data compiled by Bloomberg.Milestone Alert!
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