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Leadership Change at Trump Media as Devin Nunes Resigns Amid Financial Struggles

KVIA•Wednesday, April 22, 2026 at 3:43 PM•CNN Newsource

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Devin Nunes has announced his resignation as CEO of Trump Media & Technology Group Corp., the parent company of Truth Social, due to ongoing financial challenges. His departure comes as the company faces significant losses, with a reported net loss of $712 million and only $3.7 million in revenue last year. Kevin McGurn has been appointed as interim CEO, bringing experience from Hulu and Vevo to help navigate the company's difficulties. The stock price has plummeted from a peak of over $60 to around $9.70, raising concerns about the platform's long-term viability and user engagement. Nunes will now focus on his role as Chairman of the President’s Intelligence Advisory Board while emphasizing his commitment to free speech through Truth Social.

Key Details: • Devin Nunes served as CEO for four years and oversaw the launch of Truth Social in 2022. • Truth Social generated only $3.7 million in revenue last year with a net loss of $712 million. • The stock price of Trump Media has dropped from over $60 to approximately $9.70. • Kevin McGurn, former executive at Hulu and Vevo, is the new interim CEO.

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People & Organizations

Donald Trump Jr.Truth SocialDevin NunesKevin McGurnTrump Media & Technology Group Corp.

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