Meta has reached a settlement in the lawsuit filed against it and its CEO Mark Zuckerberg by former President Donald Trump, following the suspension of his accounts after the January 6, 2021, insurrection. The Wall Street Journal first reported the agreement, which includes a payment of $22 million, with a portion designated for Trump’s future presidential library. The rest of the funds will go towards legal fees and payments to other plaintiffs involved in the case.
While Meta will not admit to any wrongdoing regarding the suspensions of Trump’s social media accounts, the settlement represents a victory for the former president, who had heavily criticized the company’s actions after he was barred from using Facebook and Instagram. Trump’s social media accounts were suspended due to comments that appeared to praise individuals involved in the Capitol riot.
Recently, Trump has been seeking to mend relations with tech giants, including Zuckerberg, with whom he has shared a cordial relationship. Zuckerberg, who attended Trump’s recent presidential inauguration, has signaled his support for the former president, even adjusting Meta’s policies to reduce restrictions on certain content. The tech company is also reportedly lifting some fact-checking measures across its platforms, which include Facebook, Instagram, WhatsApp, and Threads.
The settlement is part of a broader shift within media corporations as they prepare for a potential second term of Trump’s presidency. In December, ABC News also agreed to a $15 million defamation settlement following controversial comments made about Trump by one of their anchors.
In other news, Meta reported a 59 percent increase in net income for the year, reaching $62.36 billion, a sign of the company’s continued profitability.
