Billionaire Mark Zuckerberg spends $25 million to settle with President Trump

New York [US], January 30: ABC News reported on January 30 that Meta agreed to settle with US President Donald Trump after he accused the company of violating his rights by locking his social media accounts after the riot at the Capitol on January 6, 2021.
According to a letter from Meta's lawyers, the company confirmed it would donate $22 million to Mr. Trump's presidential library and would also pay $3 million in legal fees.
"I am writing to inform the court that the parties have reached an agreement to resolve the individual claims of the named plaintiffs and to resolve this matter," the letter said.
In July 2021, Mr. Trump sued Meta and CEO Mark Zuckerberg for "censoring" his social media account, accusing the company of colluding with Democratic lawmakers to silence him.
"Like trying to fit a round peg into a square hole, Facebook claims that Plaintiff's posts violated Facebook's self-imposed community standards," according to the lawsuit.
The settlement comes as Mr Zuckerberg has tried to smooth his relationship with Mr Trump, notably attending his inauguration earlier this month and making multiple trips to Mr Trump's Mar-a-Lago resort in Florida.
Meta donated $1 million to Mr. Trump's campaign, ended its diversity, equity, and inclusion (DEI) programs, and overhauled its authentication policies, while Mr. Zuckerberg expressed regret over his company's past policies.
In another development, AFP reported on January 30 that Meta recorded a surge in revenue and profit in 2024, while announcing ambitious plans to expand its artificial intelligence (AI) infrastructure next year.
The parent company of Facebook, Instagram and WhatsApp saw net income jump 59% to $62.36 billion in 2024, while fourth-quarter profit jumped 49% to $20.84 billion.
Revenue reached $164.5 billion, up 22% from 2023, driven by stronger ad performance, with ad prices rising 10% and impressions up 11% across the company's platforms.
Billionaire Zuckerberg said 2025 would be "a critical year for redefining our relationship with governments".
"We now have an American administration that is proud of our leading companies, prioritizes winning in American technology, and will defend our values ​​and interests abroad," he said.
Source: Thanh Nien Newspaper