Google parent company Alphabet (GOOGL) has agreed to pay $24.5 million U.S. to President Donald Trump to settle a lawsuit over the suspension of his YouTube account.
Alphabet, which owns YouTube, made the decision to suspend President Trump’s account following the U.S. Capitol riots that occurred on Jan. 6, 2021. Trump responded with a lawsuit.
The U.S. president also filed lawsuits against Facebook parent company Meta Platforms (META) and Twitter after those social media companies also suspended his accounts, citing concerns related to the incitement of violence.
However, since Trump won a second term last November and returned to power, mega-cap technology companies have been settling their disputes with the president.
Meta Platforms earlier this year paid $25 million U.S. to settle its legal battle with Trump. Elon Musk’s X, formerly Twitter, settled its Trump-related legal case for $10 million U.S.
The YouTube settlement comes despite several Democratic senators, including Elizabeth Warren of Massachusetts, sending a letter to Google CEO Sundar Pichai expressing concern over a payment to Trump.
The lawmakers said in the letter that they’re worried such an action would be part of a “quid-pro-quo arrangement” and could result in the company running afoul of federal bribery laws.
GOOGL stock has risen 29% this year to trade at $244.05 U.S. per share.
