The settlement stems from a lawsuit Trump filed in 2021, alleging that Meta “unfairly suspended his accounts.”

According to The Wall Street Journal, $22 million of the settlement will be allocated to fund Trump’s future presidential library while the remaining amount will cover legal fees and payments to other plaintiffs involved in the case.

Despite the financial settlement, Meta will not admit any wrongdoing related to the suspensions.

Trump has been vocal in his criticism of social media platforms for their actions against him after the insurrection, which included remarks he made that were interpreted as supportive of the violence.

Trump has been reaching out to tech leaders like Meta’s CEO Mark Zuckerberg and X owner Elon Musk, both of whom attended his inauguration last week.

Zuckerberg has shown support for Trump and has made changes to Meta’s policies, including easing content restrictions across its platforms.

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The settlement is the latest in a series of high-profile agreements involving media companies as they prepare for a potential second Trump presidency.

ABC News settled a defamation lawsuit with Trump for $15 million related to comments made by a top anchor.