X to pay $10M to settle Trump lawsuit, WSJ reports

X, the platform formerly known as Twitter, has agreed to pay roughly $10M to settle Trump’s 2021 lawsuit against Twitter and then-CEO Jack Dorsey over the ban on his accounts after the January 6 riot, The Wall Street Journal’s Annie Linskey and Rebecca Ballhaus report. Though Trump’s team considered letting the lawsuit fizzle out due to Musk’s proximity to the president and the fact that he spent $250M to help elect him, they ultimately moved forward with the settlement despite Trump and Musk’s close relationship, according to some people familiar with the matter. Meta (META) last month settled a similar lawsuit over its suspension of Trump’s Facebook account for $25M. Other publicly traded companies in the social media space include Alphabet (GOOG) (GOOGL), Pinterest (PINS), Reddit (RDDT) and Snap (SNAP).