Trump Media CEO Departs After Revenue Misses by 99.8% and Shares Tumble 67%
Trump Media’s 2025 revenue was $3.68 million, 99.8% below the $1.843 billion projection, and it posted a $712 million net loss. Shares have plunged about 67% since their late 2024 peak, and Devin Nunes exits as CEO after four years while Kevin McGurn assumes the interim role.
1. Leadership Change
Devin Nunes steps down as CEO after four years at the helm of the core Truth Social platform. His departure follows underwhelming business performance and the board’s decision to bring in experienced media executive Kevin McGurn on an interim basis.
2. Financial Performance Miss
The company reported just $3.68 million in revenue for its projected 2025 period, representing a 99.8% shortfall versus the $1.843 billion target, and posted a $712 million net loss. This gap severely undermined investor confidence and raised questions about future growth prospects.
3. Stock Price Decline
Shares have fallen about 67% since peaking in late 2024 and are down roughly 90% from early 2022 levels, erasing over $6 billion in market value. This slump reflects disappointing user growth and revenue execution on the Truth Social platform.
4. Interim CEO Appointment
Kevin McGurn brings experience in digital media, technology, and capital markets, along with familiarity with company operations, to his interim role. The board has not announced a timeline for naming a permanent successor.