Trump's Trump Media scam seems to be starting to wind down finally, and with that, the rats like Devin Nunes are moving on to other opportunities.
Source: New York Times
President Trump’s social media company, which has consistently lost money and struggled with a flagging share price, announced Tuesday that it was replacing Devin Nunes as its chief executive officer.
The announcement offered no reason for the sudden departure of Mr. Nunes, a former Republican congressman from California. Mr. Trump had tapped him to run the company, Trump Media & Technology, in late 2021.
For no reason, huh?
Last year, Trump Media took in $3.7 million in revenue and recorded a $712 million net loss.
Since going public, the company has lost over a billion dollars with only meager revenue. It lost about $58 million in 2023, about $400 million in 2024, and about $712 million last year, according to its financial filings. At the time of the initial offer, the company said it expected to generate $3.6 billion by 2026. Unsurprisingly, that type of revenue has never remotely materialized. But it was never supposed to, I suppose. The grift was the thing all along.
According to the Associated Press, Nunes received $47 million in total compensation in 2024 alone.
How any of this is legal and why these people aren't rotting away in prison remains one of life's mysteries.
