Trump media company replaces CEO, ex-congressman Devin Nunes after stock plunge that wiped out billions
Trump Media & Technology is replacing its CEO Devin Nunes with Kevin McGurn after a 67% stock plunge that wiped out $6 billion in investor wealth. The company, behind Truth Social, has lost over $1.1 billion since going public two years ago.
Trump Media & Technology is replacing Devin Nunes as CEO with Kevin McGurn after a significant stock collapse. The company's stock plunged 67%, wiping out over $6 billion in investor wealth. Trump Media, formed by the Trump family, operates Truth Social, a platform created as an alternative to mainstream social media. The company has lost over $1.1 billion since going public two years ago. Nunes received $47 million in compensation in 2024. McGurn, who has worked at NBC Universal and Hulu, stated that the company is poised for growth. Trump Media has recently expanded into cryptocurrency and prediction markets.
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