Meta said on Wednesday that it had agreed to pay President Trump $25 million to settle a 2021 lawsuit he filed over the suspension of his Facebook and Instagram accounts after the Jan. 6 riot at the Capitol.
The move was a significant concession by a major tech company and a victory for Mr. Trump, who had previously criticized social media platforms for censoring him but has lately wooed tech titans including Elon Musk and Mark Zuckerberg, Meta’s chief executive.
Mr. Zuckerberg has thrown his support behind Mr. Trump and has been remaking his company for the new administration. This month, Mr. Zuckerberg made sweeping policy changes to allow for more types of speech across Meta’s apps — which include Facebook, Instagram, Threads and WhatsApp — and eliminated diversity and inclusion initiatives across the company. In some cases, the changes have proved contentious to his work force.
In a call with investors on Wednesday for Meta’s quarterly financial results, Mr. Zuckerberg praised the Trump administration for supporting American tech companies and “defending our values.”
He added, “This is going to be a big year for redefining our relationships with governments.”
Meta, which owns Facebook, Instagram, WhatsApp and other apps, posted a 21 percent jump in revenue and a 49 percent increase in profit for the fourth quarter, but gave a lighter-than-expected revenue forecast for the current quarter.
In December, ABC News agreed to pay $15 million to settle a defamation lawsuit by Mr. Trump. ABC News agreed to donate the money to Mr. Trump’s future presidential foundation and museum. The network and its star anchor, George Stephanopoulos, also published a statement saying they “regret” remarks that were made about Mr. Trump during a televised interview in March.
Meta’s settlement with Mr. Trump follows similar terms. Roughly $22 million will go toward funding Mr. Trump’s presidential library, with the remaining $3 million earmarked for Mr. Trump’s legal fees and other plaintiffs who joined the lawsuit. Meta is not admitting wrongdoing as a part of the agreement, which was earlier reported by The Wall Street Journal.
