Former President Trump told Fox News Wednesday that his campaign is seeking reinstatement on Facebook as he ramps up his 2024 bid for president.

Why it matters: Trump was banned from several social media platforms, including Facebook, Twitter and Instagram, after the Jan. 6 insurrection. He said he is now working to set up a meeting to discuss his reinstatement with Meta CEO Mark Zuckerberg.

What he's saying: Facebook "needs us more than we need them," he said in an interview with Fox News, claiming that the social media giant has "lost $700 billion since I was de-platformed."

• "It has been considered a major business mistake for them, Twitter and others."
• "If they took us back, it would help them greatly, and that's okay with me," Trump added.

The big picture: Facebook was Trump's main vehicle for digital fundraising ads in 2020. Having access to his accounts would enable him to run ads from his personal pages during the 2024 election.

• Facebook has also served as a platform for extremists, many of whom gathered online and planned the assault on the Capitol.
• After the Capitol riots, Facebook said it would ban Trump from its platform for two years.
• The Trump campaign's general counsel formally requested a meeting with Meta executives in a letter Tuesday, noting that the two-year period lapsed on Jan. 7.

Yes, but: Tech accountability groups are urging Meta to keep Trump off its platforms, citing potential damage spurred by his dangerous rhetoric and false claims of election fraud.

Worth noting: Twitter reinstated Trump's account after Elon Musk took over the company.

Editor's note: This is a breaking news story and will be updated with more information.