The settlement agreement, which does not include any admission of liability by Meta, was signed by Trump on Wednesday, according to The Wall Street Journal.

Some $22 million of the sum will go towards the establishment of a Trump presidential library, while the rest will go towards legal and other fees.

Trump was banned from most mainstream social media platforms in the wake of the deadly riot on 6 January 2021 — prompting him to launch his own, Truth Social, in 2022.

Meta originally imposed an indefinite suspension on 7 January 2021, but reduced this within weeks to two years after referring the matter to its Oversight Board, which it describes as independent.

Trump accused the company of unlawfully censoring him at behest of the new Biden administration in the lawsuit, which Meta was contesting until recently.

Democratic Senator Elizabeth Warren yesterday criticised the settlement, which she said “looks like a bribe and a signal to every company that corruption is the name of the game”.

She added: “After Meta pays to play, what does Mark Zuckerberg expect as a return on this investment?”