The Trump business behind Truth Social is replacing a former congressman and big supporter of the U.S. president as leader of the social media platform after a stock collapse that wiped out billions in investor wealth.
Devin Nunes, a former California congressmen in Donald Trump’s first term, is being replaced temporarily by digital media executive Kevin McGurn as chief executive officer. The company, Trump Media & Technology, didn’t give a reason for Nunes leaving or provide a timeline for his permanent replacement.
After soaring shortly before Trump’s re-election in November 2024, stock in the company plunged 67%, wiping out more than $6 billion in investor wealth.
Reminder: Jimmy Carter got rid of his family farm to avoid even the appearance of impropriety under the Emoluments Clause.
We are well into the new gilded age and robber barons are back in style
He didn’t do it out of the goodness of his heart. He was forced to do it.
We need to purge the FBI DOJ FEC FTC and supreme court.
Preferably with extreme prejudice.
Reminder: the Trump’s steal from children’s cancer funds because fuck em.
A bot filled social media hellscape, where the only advertisers are MAGA branded products and services, gold scams, homeopathic junk and the Pillow crackhead, isn’t worth billions?
I, for one, need to lie down.
Trump’s media company is utterly worthless. It never had any value. All it lost was a binch of pedofascist bootlickers who are rethinking their life choices.
Who would have thought that Pedophile Trump would lose $6 billion in investor wealth so quickly? Do you suppose a particular bovine with mischievous tendencies might be behind this misdeed? Or was it the farmer’s fault?
Likely the latter.
I deleted my Twitter account years ago at, or shortly before, Space Karen started Sieg Heiling. So I haven’t been able to follow up on things there - but I hope the cow is doing fine.
I too left Twitter around the same time, and I really wish that Mastodon would just replace Twitter already. There is a certain silliness that occurs there that is still rare on Mastodon. I’m excited for more of that silliness to come to the Fediverse. I don’t look forward to all the Nazis who eventually will get bored of their echo chamber and try to meander over. I hope the right tools, people, and hardware are in place when it happens.
I kind of imagine all the right people and tools are there. I’m less confident on the hardware.
There’s a pole waiting for Nunez too
Wow, guy got fired for doing a bad job at a fake company. Serious loser.
Oh no! And my Trump stocks were supposed to be the stable part of my investment portfolio
