Trump Media & Technology Group ($DJT) said Devin Nunes has stepped down as chief executive officer, with Kevin McGurn named interim CEO, as the company continues to face financial losses and declining share performance following its 2024 public listing.
- Nunes, a former U.S. congressman, had led the company since 2021; no reason was provided for his departure.
- Trump Media reported approximately $3.7 million in revenue and a $712 million net loss last year.
- Shares have fallen significantly since going public via SPAC in March 2024, recently trading below $10.
- The company is pursuing multiple initiatives including a planned merger with fusion firm TAE Technologies and potential spin-off of Truth Social.
- Executive compensation filings show Nunes received roughly $46.9 million in 2024, with additional details available here.
- Attorney General Pam Bondi disclosed selling between $1 million and $5 million of Trump Media shares in April 2025, according to a federal filing wih the OGE.
- The company also holds digital assets and has explored launching branded exchange-traded funds.
Relevant Companies
- Trump Media & Technology Group ($DJT) – Undergoing leadership transition while managing losses, strategic shifts, and declining share performance.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
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