Meta has reached an agreement to pay $25 million to former President Donald Trump in order to resolve a lawsuit he initiated in 2021, asserting that he was unjustly censored by Facebook and Instagram subsequent to the insurrection at the US Capitol, as stated by the company on Wednesday.
The Wall Street Journal was the first to disclose the resolution of the legal action taken against Meta and its CEO, Mark Zuckerberg, which has been interpreted as a favorable outcome for Trump.
As per sources acquainted with the terms of the agreement, the Journal reported that $22 million of the total sum will be allocated for the establishment of Trump’s future presidential library, with the remaining funds designated for legal expenses and compensations to additional plaintiffs involved in the litigation.
In the terms of the settlement, Meta will not concede any wrongdoing regarding the suspension of Trump’s accounts.
A representative from Meta has verified the settlement to AFP.
Trump has vociferously condemned social media platforms for the suspension of his accounts in the aftermath of the insurrection on January 6, 2021, along with remarks he made that were interpreted as commendatory towards those who participated in the violence.
Nevertheless, he has recently sought the favor of influential figures in the technology sector, including Zuckerberg and X owner Elon Musk, both of whom were present at Trump’s presidential inauguration last week in Washington.
Zuckerberg has conveyed his endorsement of Trump and has modified Meta’s policies to alleviate restrictions on certain content across the company’s applications, which encompass Facebook, Instagram, Threads, and WhatsApp.
Meta would be “restoring free expression on our platforms,” Zuckerberg, who allegedly dined with Trump at his estate in Florida in November, stated this month while announcing a retraction of fact-checking initiatives.
The settlement represents the most recent concession by media corporations as they prepare for a potential second Trump administration.
In December, ABC News consented to a settlement payment of $15 million to resolve a defamation lawsuit filed by Trump arising from statements made about him by a prominent anchor during an on-air segment.
Earlier on Wednesday, Meta reported that its net income surged by 59 percent, amounting to $62.36 billion for the entire fiscal year.
