Facebook Vice President Andrew Bosworth also said that the president's victory was not a result of outside influence but of clever digital advertising.
Federal regulators will also institute new oversight and restrictions on the business.
The social media giant is facing a multibillion-dollar fine over its role in the Cambridge Analytica data scandal.
The tech giant has been criticized for improperly handling consumer data, and lawmakers want more than money.
Company executives, particularly Mark Zuckerberg and Sheryl Sandberg, have not exactly been forthcoming about the many controversies of 2018.
Rebekah Mercer and her father, Robert Mercer, have also supported Steve Bannon, Breitbart and Cambridge Analytica.
"There is a danger of concentration," said Tim Berners-Lee, a London-born computer scientist who invented the Web in 1989.
The fine could herald more punitive action against the social media giant.
All that criticism hasn't hurt his bottom line, according to rankings by Bloomberg.
A failed startup suggested that Facebook mounted what could be described as mass surveillance.