Meta has agreed to pay President Donald Trump $25 million (€24 million) to settle a 2021 lawsuit he filed claiming he was wrongfully censored by Facebook and Instagram after the US Capitol riot.
According to the Wall Street Journal, which was the first to report the settlement, roughly $22 million of the settlement cash will go towards funding Trump's future presidential library, with the remainder covering legal fees and payments to other plaintiffs in the case.
The settlement does not require Meta to admit wrongdoing, according to Meta spokesperson Andy Stone.
Trump brought lawsuit in 2021
Trump has previously criticized the suspension of his accounts following the January 6 Capitol attack.
Zuckerberg had condemned the attack on Congress in 2021 and posted to Facebook that year: "The shocking events of the last 24 hours clearly demonstrate that President Donald Trump intends to use his remaining time in office to undermine the peaceful and lawful transition of power to his elected successor, Joe Biden."
Trump has since warmed up to Zuckerberg, who attended his presidential inauguration last week in Washington.
Meta posts sharply higher fourth-quarter earnings
Meanwhile, Meta reported a surge in profits and revenue for 2024 and announced plans to expand its artificial intelligence infrastructure in 2025.
The parent company of Facebook, Instagram, and WhatsApp saw its net income soar 59% to $62.36 billion for the full year 2024, while fourth-quarter (October-December) profits jumped 49% to $20.84 billion, a statement said.
Zuckerberg outlined his vision for Meta to lead the AI race and told investors on call: "We now have a U.S. administration that is proud of our leading companies, prioritizes American technology winning, and that will defend our values and interests abroad. And I'm optimistic about the progress and innovation this is going to unlock."
Meta's solid performance comes as it makes changes to its content moderation policies, including ending its fact-checking program meant to stop the spread of wrong and misleading information on its platforms.
