Advertisement
Categories: BusinessNewsWorld

Trump Media CEO Devin Nunes Replaced Amid $1 Billion Losses

Advertisement

Trump Media & Technology Group announces CEO change.

The company’s ticker symbol DJT will see a new interim CEO in Kevin McGurn, replacing Devin Nunes. Nunes led the firm through its public debut and a surge in market value.

Despite serving as a platform for President Trump’s frequent posts, Truth Social has struggled to attract advertisers. The company’s revenue rose only 1.8% over the past year, while it lost more than $1 billion since going public two years ago.

Trump Media’s stock price plummeted by 58% in the previous 12 months, erasing billions of shareholder value. Valued at nearly $10 billion when it went public in March 2024, the company now has a market capitalization of $2.7 billion.

McGurn stated that Trump Media is poised to take off and meet its vital challenge and opportunity. He emphasized that Truth Social stands for the most powerful brand and voice in social media history.

Nunes guided Trump Media into other emerging businesses, including investments, cryptocurrencies, and a 2025 merger with fusion energy company TAE Technologies. In an April post on Truth Social, Nunes said it was “an appropriate time” for McGurn to take over leadership.

McGurn has experience at NBC Universal, Hulu, and DoubleClick among others. He is also CEO of a new shell company that Trump’s two oldest sons, Donald Jr. and Eric, joined last year to buy U.S. manufacturers.

Advertisement
News Desk

Recent Posts

Iran Outmatches US Military Capabilities, Officials Confirm

Washington - Iran possesses more military capabilities than the White House or Pentagon have publicly…

1 minute ago

Zyuganov Warns of Revolution Risk Due to Economy’s Decline in Parliament Session

Russian Communist Party Leader Warns of Revolution Gennady Zyuganov, the 81-year-old leader of Russia's Communist…

13 minutes ago

NDMA Conducts Nationwide Search and Rescue Drill Amid Monsoon Risks

National Disaster Management Authority Conducts First Nationwide Search and Rescue Drill The National Disaster Management…

2 hours ago

Maryam Nawaz Calls Emergency Meeting Over Punjab’s Crime Surge

Punjab Chief Minister Maryam Nawaz held an emergency meeting on Wednesday after noticing a sudden…

2 hours ago

Mobilink Bank’s WIN Incubator Leads Pakistan’s DEI Agenda, Graduates 18 Women-Led Startups

Islamabad, April 22, 2026: Reinforcing its position as a leader in Diversity, Equity, and Inclusion…

4 hours ago

Karachi, Lahore Airports Get Modern ATC Systems for Safety & Efficiency

Pakistan's Airports Authority announces plans to install advanced air traffic control systems at Karachi and…

4 hours ago