Meta CEO Mark Zuckerberg faced a staggering loss of nearly $3 billion in the wake of a one-hour global shutdown affecting various popular social media platforms under the company’s umbrella, the New York Post reported. 

The outage resulted in a decline of $2.79 billion in Zuckerberg’s net worth, bringing it down to $176 billion within a single day, as reported by India Today.

Despite the substantial setback, the tech mogul maintains his position as the world’s fourth richest person on the Bloomberg Billionaires Index. The hour-long disruption triggered a 1.6% dip in Meta shares, contributing to the erosion of Zuckerberg’s overall net worth. Meta shares concluded the overnight trading session on Wall Street at $490.22 apiece.

On Tuesday night, Facebook, Instagram, and Threads users encountered difficulties accessing their accounts, while Meta Quest users faced headset login issues. Concurrently, numerous YouTube users reported errors while navigating the platform. 

During the outage, Instagram and Facebook users grappled with “failure to load” error pages, and some could only view older stories, with many Facebook accounts automatically logged out.

Affected users turned to Elon Musk’s X, formerly Twitter, to voice their complaints about the issue. Seizing the opportunity, Musk took a jab at rival Meta, mocking the company as its flagship platforms grappled with the disruptive outage.