Truth Social CEO Out After $1.1 Billion in Losses
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Truth Social CEO Devin Nunes is out after the company incurred $1.1 billion in losses.
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Devin Nunes is out as the head of Truth Social after the company incurred $1.1 billion in losses under his leadership. Donald Trump Jr., a board member at parent company Trump Media + Technology, announced Nunes would be replaced by an executive formerly with Hulu. The company's stock has plummeted 84 percent from its 2024 debut price of $58 to around $9.80, recording just over $10.6 million in revenue since going public. Nunes, who drew a $1 million salary, $600,000 bonus, and $46 million in stock in 2024, oversaw initiatives including "personal freedom" ETFs, a crypto token, and a Bitcoin treasury. Most of the losses stem from a $2.5 billion Bitcoin purchase in 2025, which declined significantly in value.
What's Being Done
Donald Trump Jr. announced Devin Nunes would be replaced by an executive formerly with Hulu.
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