Mark Zuckerberg offered $1 billion to settle FTC antitrust case: Report

As Meta Platforms battles the US Federal Trade Commission (FTC) in a closely watched antitrust trial, a Wall Street Journal (WSJ) report has revealed that chief executive officer Mark Zuckerberg had offered up to $1 billion to settle the case earlier this year.

The report added that in March, Zuckerberg reportedly approached FTC chairman Andrew Ferguson with an initial offer of $450 million. As the trial date neared, that offer was increased to $1 billion.

However, the FTC rejected both proposals, with Ferguson said to be holding out for a minimum of $18 billion and a formal consent decree.


The agency is pursuing a break-up of Meta, alleging that the $1.4 trillion company’s acquisitions of Instagram and WhatsApp were anti-competitive moves aimed at maintaining its monopoly in the “personal social networking” market—defined as platforms used primarily to connect with close friends and family.

Also Read: ETtech Explainer: Why the US government wants to break up Meta

According to the report, “Zuckerberg led a frenzied lobbying effort to avoid the FTC trial.”

The trial began on Monday, with the FTC calling Zuckerberg to the stand. The Meta chief was reportedly hesitant to testify.

Former FTC Chair Lina Khan told the WSJ that the company’s $450 million settlement offer was “delusional.”

“Mark bought his way out of competing, so I’m not surprised that he thinks he can buy his way out of law enforcement, too,” said Khan, who was nominated by former President Joe Biden. “His proposed remedy, like his market strategy, is: ‘let my illegal monopoly keep monopolising.’