Foreign Affairs: Mark Zuckerberg's Meta Agrees To Pay Trump $25 Million To Resolve Account Ban.
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The Wall Street Journal was first to report the settlement in the lawsuit against Meta and its CEO Mark Zuckerberg, in what was seen as a victory for Trump.
According to people familiar with the agreement, the Journal said $22 million of the payment will go to fund Trump's future presidential library, with the rest covering legal fees and payments to other plaintiffs in the case.
As part of the agreement, Meta will not admit wrongdoing in connection with the suspension of Trump's accounts.
A Meta spokesperson confirmed the settlement to AFP.
Trump had widely criticized the social media platforms for suspending his accounts following the January 6, 2021, riots by his supporters and for comments he made that were seen as praising those involved in the violence. But it has recently courted tech titans, including Zuckerberg and X owner Elon Musk, both of whom attended Trump's presidential inauguration last week in Washington.
Zuckerberg has expressed support for Trump and changed Meta's policies to remove restrictions on some content on the company's apps, which include Facebook, Instagram, Threads and WhatsApp.
Meta will "restore free speech to our platforms," said Zuckerberg, who said he had dinner with Trump at his Florida estate in November, and this month announced a rollback of fact-checking operations.
The deal is the latest bow from media companies as they prepare for a second Trump presidency.
In December, ABC News agreed to pay a $15 million settlement to settle a defamation lawsuit filed by Trump over on-air comments about him made by a popular anchor. Earlier on Wednesday, Meta said its net profit rose 59% to $62.36 billion for the full year.
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