In a settlement for a lawsuit he filed, former US President Donald Trump has agreed to pay $25 million to Meta, the parent company of Facebook.
Trump sued Meta in 2021 for blocking his Instagram and Facebook accounts following the riot at the Capitol on January 6.
Trump, who has recently courted internet titans like Elon Musk and Mark Zuckerberg, the CEO of Meta, and earlier attacked social media sites for suppressing him, has won a huge concession from a major tech business.
Zuckerberg has been reorganizing his company for the next administration and has thrown his support behind Trump.
Mark Zuckerberg, the CEO of Meta, commended Trump’s government for “defending our values” and assisting American internet companies on a call with investors on Wednesday to discuss the company’s quarterly financial performance.
“This year will be significant for redefining our relationships with governments,” he continued.
Facebook, Instagram, WhatsApp, and other app developer Meta reported a 21 percent gain in sales and a 49 percent increase in profit for the fourth quarter, but its revenue prediction for the current quarter was lower than anticipated.
According to the Wall Street Journal, Meta and Trump reached a similar agreement, with about $22 million being used to support Trump’s presidential library and the remaining $3 million going toward Trump’s legal costs and other plaintiffs who joined the case.
The WSJ first reported on the accord, but Meta is not acknowledging any wrongdoing.