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Truth Social CEO out after $1.1 billion in losses (www.motherjones.com)

submitted 1 day ago by pelespirit@sh.itjust.works to c/politics@sh.itjust.works

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The company, which is majority owned by Donald Trump, has seen its stock plummet 84 percent under Nunes’ leadership, from its debut price of $58 back in 2024. The current share price of around $9.80 is arguably still optimistic for a company that has lost $1.1 billion since it went public, and recorded just over $10.6 million in revenue in the same time.

Even as the company struggled, Nunes prospered. In 2024 alone, his pay outstripped any revenue the company has made over its lifetime—he drew a salary of $1 million, a bonus of $600,000 and was awarded stock worth another $46 million.

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[–] Microtonal_Banana@lemmy.zip 4 points 10 hours ago

Especially when the CEO is Devin Nunes lol