US President Donald Trump has signed a legal settlement requiring Facebook and Instagram owner Meta to pay about $25 million (£20 million).
Trump sued the social media company and its CEO, Mark Zuckerberg, in 2021 after his accounts were suspended following the January 6 Capitol riots.
In July 2024, Meta removed the final restrictions on Trump's Facebook and Instagram accounts as the US presidential elections approached.
The Wall Street Journal first reported the settlement.
Approximately $22 million of the settlement will go to a fund for Trump's presidential library.
The remaining amount will cover legal costs and compensate other plaintiffs who joined the lawsuit. Meta will not admit any wrongdoing.
The company suspended Trump's accounts in 2021 and stated that it would ban him from the platforms for at least two years.
After Trump's election victory in November, Mr. Zuckerberg visited his Florida resort, Mar-a-Lago. This visit was seen as a sign of improving relations between them, which had been tense before.
The following month, Meta donated $1 million to Trump's inauguration fund. Mr. Zuckerberg attended Trump's inauguration at the US Capitol earlier this month, sitting near other global tech billionaires.
For years, Trump had been very critical of Mr. Zuckerberg and Facebook, calling the platform "anti-Trump" in 2017.
Their relationship worsened after Trump's accounts were banned. He referred to Facebook as an "enemy of the people" in March 2024.
Twitter, now called X and owned by Trump's ally Elon Musk, also "permanently" suspended the president from its platform.
After purchasing the company for $44 billion, Mr. Musk reinstated Trump's account in 2022 after a poll he conducted on the site narrowly supported the decision.
Separately on Wednesday, Meta defended its $65 billion investment in artificial intelligence (AI) after tech stocks were shaken by the sudden rise of the Chinese AI app DeepSeek.
Mr. Zuckerberg told investors there was much to learn from DeepSeek, but it was too early to have "a really strong opinion" about what the app means for the future of AI.
"If anything, I think the recent news has only strengthened our belief that this is the right thing for us to focus on," he added.
Many US tech stocks fell this week after DeepSeek became popular, but Meta's stock went against this trend by rising.
The stock increased in after-hours trading after posting better-than-expected financial results on Wednesday.
However, there are still questions about how advances in Chinese AI will affect the US AI market overall, given DeepSeek's claim that it was developed at a fraction of the cost of its US competitors.
Mr. Zuckerberg told investors on a call following the results on Wednesday that DeepSeek's rise reinforced his belief in his company's focus on "open-source" AI.
Meta, the parent company of Facebook, Instagram, and WhatsApp, took a different approach from many US companies by releasing an open-source AI model for free.
On Wednesday, Mr. Zuckerberg said he believed this approach was crucial for keeping the US at the forefront, as countries worldwide compete to become leaders in the still-developing industry.
"There will be a global open-source standard, and I think for our national advantage, it's important that it's an American standard," he said.
"We take that seriously. We want to build the AI system that people around the world use."