Aftermath of 75% Stock Plunge... Trump Media CEO Devin Nunes Resigns

Donald Trump's social media company, 'Trump Media & Technology Group (TMTG)', has replaced Chief Executive Officer (CEO) Devin Nunes after experiencing massive financial losses and a stock price crash. As his successor, Kevin McGurn, a long-time advisor with over 20 years of experience in the media and advertising technology sectors, has been appointed as interim CEO.

Massive Financial Losses and Stock Price Crash

TMTG has recorded massive losses ranging from $1 billion to over $1.4 billion since its initial public offering (IPO) in March 2024. According to financial reports, the company's revenue in 2025 was only about $3.7 million, while its net loss exceeded $712 million. With its flagship platform, 'Truth Social', struggling to attract advertisers despite Donald Trump's frequent post uploads, revenue grew by just 1.8% over the past year.

As a result, the company's market value, which stood at approximately $10 billion at the time of its listing in 2024, has seen its stock price plunge by more than 70%. The company expects operating losses to continue in the future if Truth Social and the streaming platform 'Truth+' fail to secure sufficient viewership.

Nunes's Massive Compensation and Future Plans

Devin Nunes, who resigned from his federal congressional seat and has led TMTG since 2022, received a seven-figure salary and tens of millions of dollars in stock compensation during his tenure. Notably, it was revealed that in 2024 alone, he collected massive compensation totaling $47 million. Nunes stated that after stepping down, he plans to focus more on his current position as Chairman of the President's Intelligence Advisory Board.

The Company's New Direction and the Interim CEO's Ambitions Kevin McGurn, who has newly taken the helm as interim CEO, has previous experience working at companies such as NBCUniversal, Hulu, and DoubleClick. He expressed confidence that the company is ready for a new leap forward, saying, "Truth Social represents the most powerful brand and voice in the history of social media."

As the advertising revenue model hits its limits, TMTG recently expanded its business into cryptocurrency and online prediction markets, and in 2025 is pursuing a merger with the nuclear fusion energy company 'TAE Technologies', seeking new avenues beyond social media.