Devin Nunes was not an obvious choice to run a fledgling social media network, but after $1.1 billion in losses, the former dairy farmer and congressman is out as the head of Truth Social.

Donald Trump Jr., a board member at Trump Media Technology, the parent company of Truth Social, said on Tuesday night that Nunes would be replaced by another executive who formerly worked at Hulu. Nunes confirmed the move in a Truth Social post of his own.

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.

To be fair to Nunes, he was asked to oversee a company that despite having one of thet world’s most recognizable faces as its power user, had a remarkably scattershot approach to everything.

When Trump Media was first announced as a concept, the Trump family said it would include: Truth Social, streaming........

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