Mark Zuckerberg's Meta To Pay US President Donald Trump ₹2,16,43,37,262 Here Is Why

The cosying up of Silicon Valley tech giants to the United States president Donald Trump, even before her took oath for the highest and arguably the most powerful office in the world is best exemplified by Meta's Mark Zuckerberg.

Meta Settles Lawsuit

In a new development in the equation between Zuckerberg and Trump, the former's company, Meta, the largest social media conglomerate in the world, has agreed to pay Donald Trump an amount of USD 25 million or about Rs 2,16,43,37,262 (over Rs 200 crore, as per current exchange rates).

This is being done as a part of a lawsuit settlement between the two entities.

This lawsuit was launched by Donald Trump after his account on Facebook and Instagram were taken down by Meta in 2021 after Trump, then the 45th US president, made incendiary remarks and false claims and accusations, leading up to the US Capitol riots on January 6, 2021.

Mark Zuckerberg has come a long way, from banning Trump's social media accounts to flying to Mar-a-Lago. From criticising Trump to giving his inauguration campaign a million-dollar cheque.

Mark Zuckerberg, a lot like other tech titans who heads some of the largest and most critically influential corporations in the world, has tried to reduce the distance between Silicon Valley and the Trumpian MAGA world.

In addition to this, Zuckerberg also recently announced that he is slashing fact-checkers on his platforms, replacing them with X-like community notes. This decision has been directly attributed to an attempt to influence Trump or fall in his good books.

Meta Shares Close In Green

This recent development also appears to have aided the Meta Shares, when the rest of the American indices were trading in red.

On Wednesday, as the US marquee indices, namely, Dow Jones, Nasdaq and S&P 500 fell due to the US Fed's decision to hold the interest rates at 4.25-4.50, Meta shares emerged in green.

While all major tech shares including Nvidia and Microsoft, closed in red, Meta shares closed at USD 676.49, with gains of 0.32 per cent or USD 2.16, at the end of the day.