Meta Platforms Inc. agreed to pay former US President Donald Trump $25 million to settle a 2021 lawsuit related to his suspension from Facebook and Instagram after the January 6th Capitol riot. This move comes amidst Zuckerberg's shift towards supporting Trump and relaxing content moderation policies within Meta.
Meta Platforms Inc., the parent company of Facebook , Instagram , and WhatsApp, has agreed to pay former US President Donald Trump $25 million to settle a lawsuit filed in 2021. The lawsuit stemmed from Meta 's suspension of Trump's accounts on both platforms following the January 6th Capitol riot. This settlement represents a significant concession by a major tech company and a victory for Trump, who has been vocal in his criticism of social media platforms for alleged censorship.
Zuckerberg has publicly expressed his support for Trump and has implemented changes within Meta to align with the new administration's priorities. These changes include relaxing content moderation policies across Meta's platforms and eliminating diversity and inclusion initiatives. While some of these changes have been met with resistance from Meta's workforce, Zuckerberg has praised Trump's administration for its support of American tech companies and their values.Meta's financial performance for the fourth quarter of 2023 showed a 21% increase in revenue and a 49% jump in profit, reaching $48.4 billion and $20.8 billion, respectively. However, the company provided a conservative revenue forecast for the current quarter, raising concerns among investors, particularly as Meta plans to significantly increase its spending on infrastructure and artificial intelligence (AI) development. The company aims to invest between $60 billion and $65 billion this year, up from $38 billion to $40 billion in 2024. This investment reflects Meta's commitment to remaining competitive in the rapidly evolving AI landscape, where companies like Google, Amazon, Microsoft, and OpenAI are also making substantial investments.The settlement with Trump, which includes $22 million for his presidential library and $3 million for legal fees and other plaintiffs, mirrors a similar agreement reached by ABC News in December. In that case, ABC News settled a defamation lawsuit filed by Trump for $15 million, donating the funds to Trump's future presidential foundation and museum. The network also issued a public statement expressing regret for remarks made about Trump during a televised interview. Meta's settlement with Trump underscores the ongoing tension between tech giants and political figures, particularly regarding content moderation and the perceived influence of social media platforms
Meta Facebook Instagram Donald Trump Lawsuit Settlement Censorship Content Moderation AI Zuckerberg Tech Industry
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Donald Trump launches his own meme coin $TRUMP days before inauguration7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »
Trump’s America: Donald Trump to spend first day sacking peoplePresident Donald Trump is meeting with congressional leaders in the White House; 18 US states sue to stop Trump’s birthright citizenship order. Follow live updates.
Read more »
Trump’s America: Donald Trump to spend first day sacking peoplePresident Donald Trump is meeting with congressional leaders in the White House; 18 US states sue to stop Trump’s birthright citizenship order. Follow live updates.
Read more »
Trump meme coin now worth more than $68 billionPresident-elect Donald Trump on Friday launched his first cryptocurrency, a meme coin called $TRUMP.
Read more »
Meta shelves fact-checking ahead of Trump’s second termMark Zuckerberg acknowledged the role of the recent US elections in his thinking, saying they “feel like a cultural tipping point”.
Read more »
Meta to Reduce Censorship, Trump's Greenland Ambitions, and Other NewsMark Zuckerberg announces Meta will significantly reduce censorship and appoint a pro-Trump figure to its board. We also explore the housing market's struggles, an Australian plan to combat mosquito-borne diseases, and Donald Trump's potential interest in Greenland.
Read more »