Billionaire Mark Zuckerberg lost nearly $3 billion after Facebook's incident

Nearly 3 billion USD evaporated

Meta said on March 5 that it is investigating the cause of the widespread suspension of Facebook, Instagram, and Threads platforms after users around the world were unable to access their personal accounts.

On his personal page, Meta CEO Mark Zuckerberg announced that he would try to resolve the technical issue soon. However, the process of restoring the platforms' operations also took about 2 hours.

Immediately after Facebook collapsed globally, shares of its parent company Meta fell nearly 2%, from $495/share to $488.12/share.

Facebook's boss is currently ranked 4th in the world's richest billionaires.

According to Forbes, billionaire Mark Zuckerberg was also affected by the event when his assets decreased by more than 2.8 billion USD to 171.8 billion USD - ranked 4th in the list of the world's richest billionaires.

In the past, Meta's social media platforms have crashed similarly to the night of March 5 and were fixed shortly after.

In 2021, billionaire Mark Zuckerberg lost nearly $6 billion due to the global outage of Facebook, Instagram, and WhatsApp. Meta's stock price fell 4.8% at the time. Not only that, the outage also cost the company $60 million in advertising revenue.

"Lost more than 100 million USD in advertising revenue"

Meta may have lost about $100 million in immediate revenue due to the worldwide outage of its Facebook, Instagram and Messenger platforms, according to Dan Ives, managing director at Wedbush Securities in New York.

The majority of the group's revenue comes through advertising displayed to users on social media platforms like Facebook and Instagram.

A two-hour Facebook and Instagram outage could cost Meta about $108 million, according to a managing director at Wedbush Securities.

In its latest report, Meta recorded $40 billion in revenue in the fourth quarter of 2023, bringing its total annual sales value to $134 billion. Notably, Meta's advertising revenue during the period accounted for $38.7 billion.

If calculated according to the group's figures, Meta's average advertising revenue in a day would be about $1.3 billion, equivalent to more than $54 million in 1 hour. Thus, a 2-hour outage of the main platforms could cost the company about $108 million.

The impact of this incident will also be felt by small businesses. According to Mashable, an American media site, some businesses have seen a decrease in engagement and traffic, while others have noted that their sales have been directly affected by the disruption of social media channels.

Online rights watchdog and internet governance organization NetBlocks also estimated the global economy would lose $160 million every hour Facebook, Instagram and WhatsApp were down.

Thanh Thang

Source: https://www.baogiaothong.vn/ty-phu-mark-zuckerberg-mat-gan-3-ty-usd-sau-su-co-cua-facebook-192240306184038235.htm