Trump Media replaces CEO Devin Nunes as its losses top $1 billion

CBS News
April 22, 2026
2 min read

Quick Insights

The Bottom Line

Trump Media replaced CEO Devin Nunes after the company lost over $1 billion since going public.

AI Summary

Trump Media has replaced its CEO, Devin Nunes, following significant financial losses for the company behind Truth Social. This change comes as the company has lost over $1 billion since going public two years ago. The company's shares have also declined by 58% over the past 12 months. This leadership change occurs amidst ongoing financial struggles for the social media platform.

Source Coverage Map

2 of 43 tracked sources covered this story

5% coverage
Did Not Cover (41)
ICIJ97AP World News96AP News96AP US News96AP Top News96+36 more

Following this story?

Get notified when new coverage appears

Other Sources Covering This Story

1 source

Multiple outlets have reported on this story. Compare perspectives from different sources.

Should this be getting more attention?

You Might Have Missed

Related stories from different sources and perspectives

Trump-branded AI data center megaproject stalls, CEO departs
Corporate

Trump-branded AI data center megaproject stalls, CEO departs

<p>The world's largest data center project — backed by Trump allies and bearing his name — is stalled by delays and logistical hurdles that could stop it before it even starts.</p><ul><li>The latest sign of trouble emerged Friday: CEO Toby Neugebarger <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=102691&amp;ref=319962036&amp;type=HTML&amp;cdn=e387f6899f29edcf08e78f3ef8ed1836&amp;formType=8-K&amp;formDescription=Current+report+pursuant+to+Section+13+or+15%28d%29&amp;dateFiled=2026-04-17&amp;cik=2071778" target="_blank">abruptly departed</a>. That sent the company's shares, which already shed 75% in the last six months, plummeting in aftermarket trading.</li></ul><hr><p><strong>Why it matters: </strong>Fermi America, co-founded by President Trump's former Energy Secretary Rick Perry, is emerging as a high-profile test of whether the biggest, most ambitious AI infrastructure projects can deliver on their promises.</p><p><strong>Behind the scenes: </strong>In an in...

AxiosApr 19
Trump boasts on ‘winning war’ on social media posts
Politics

Trump boasts on ‘winning war’ on social media posts

Donald Trump has released various social media comments throughout the day, preaching about winning the war.

Al JazeeraApr 20
Trump-branded data center project CEO departs
Corporate

Trump-branded data center project CEO departs

The head of Fermi America, the company building a large-scale data center campus in Texas named after President Trump, has resigned from his current role amid a broader reshuffling of the firm’s leadership. Fermi co-founder and CEO Toby Neugebauer stepped down Friday, according to a securities filing. The Dallas billionaire remains a member of the…

The HillApr 20
Harmeet Dhillon: DoJ lawyer a top contender for Trump’s retribution mission
Politics

Harmeet Dhillon: DoJ lawyer a top contender for Trump’s retribution mission

<p>Pugilistic presence has laid waste to civil rights decision – her take-no-prisoners approach has alarmed legal experts but earned president’s plaudits</p><p>When Donald Trump abruptly fired Pam Bondi earlier this month, he made it clear that an unmistakable priority for the justice department would be using the nation’s top law enforcement agency to seek retribution against his political rivals.</p><p>For months, Trump pressured Bondi to move ahead with prosecutions against James Comey, Letitia James, Adam Schiff and other rivals, even publicly venting his frustration with Bondi <a href="https://www.nbcnews.com/politics/justice-department/trump-accidentally-posted-message-pressuring-pam-bondi-charge-enemies-rcna236830">in October</a>. The justice department eventually did secure indictments against Comey and James, but the cases later collapsed. Trump fired Bondi on 2 April, reportedly because he was angered by the department’s lack of progress in prosecuting enemies. Todd Blanch...

The Guardian US NewsApr 19
Trump and other top Republicans will read passages in a marathon Bible event - AP News
Politics

Trump and other top Republicans will read passages in a marathon Bible event - AP News

<a href="https://news.google.com/rss/articles/CBMitwFBVV95cUxOb1ZINVZVSkptU1BaUFQ0b3otcFhNWVdjT1V5a3h1ZHNiWU1Ca3l2TEg2NTd3ako1N3lNaEpZbGVWZlhsd0U2M2pSNXpCZ1hKR3NZVmp1TmRZNmNNUVBNRmdzX0pCV1Fqemtzc0ZnenJvdnAxdXJVa2FfTHhKbmt4RUxsU2JBaXFaZ2pnM3lEXy1vZ0EwdnRQV1pwekNlY3lzcDB3WHd1aF8yNjU1Tm5FUm5WM2ZMY0k?oc=5" target="_blank">Trump and other top Republicans will read passages in a marathon Bible event</a>&nbsp;&nbsp;<font color="#6f6f6f">AP News</font>

AP NewsApr 21
Hundreds of Fake Pro-Trump Avatars Emerge on Social Media
Politics

Hundreds of Fake Pro-Trump Avatars Emerge on Social Media

The artificial-intelligence-generated fake influencers have surged on TikTok, Instagram, Facebook and YouTube in an apparent bid to hook conservative voters.

New York TimesApr 17
Read Next
Purdue Pharma expected to forfeit $225m as sentence in criminal opioids case
Corporate

Purdue Pharma expected to forfeit $225m as sentence in criminal opioids case

<p>Under settlement, Sackler family will pay state, local and Native American tribal governments, individual victims and others</p><ul><li><p><a href="https://www.theguardian.com/news/2026/feb/17/sign-up-for-the-breaking-news-us-email-to-get-newsletter-alerts-direct-to-your-inbox?utm_medium=ACQUISITIONS_STANDFIRST&amp;utm_campaign=BN22326&amp;utm_content=signup&amp;utm_term=standfirst&amp;utm_source=GUARDIAN_WEB">Sign up for the Breaking News US email to get newsletter alerts in your inbox</a></p></li></ul><p>A judge is expected to sentence OxyContin maker Purdue Pharma to forfeit $225m to the US justice department on Tuesday, clearing the way for the company to finalize <a href="https://www.theguardian.com/us-news/2025/nov/18/purdue-pharma-opioid-settlement-oxycontin">a settlement</a> of thousands of lawsuits it faces over its role in the opioid crisis.</p><p>The penalty was agreed to in a 2020 pact to resolve federal civil and criminal investigations it was facing. If the judge si...

Continue reading

Did this story change how you see things?

Stories like this only matter when people see them. Help us get verified journalism in front of more eyes.

Share this story

Get the daily digest

Save for later

The Verity Ledger curates verified investigative journalism from trusted sources only.

See our sources