Last year, U.S. President Donald Trump’s Trump Media reported a net loss of $700 million, and this year its stock price is down 30 percent.
Launched after Trump was banned from Twitter (now X) in 2021, Trump Media spans social media (Truth Social), streaming (Truth+), and cryptocurrency. The president’s family owns a majority stake, and the company is now considering spinning off Truth Social and Truth+ into a separate publicly traded entity.
Last month, Kevin McGurn, a former Hulu executive, became interim CEO of Trump Media after former Congressman Devin Nunes departed abruptly. On Trump Media’s board, Eric Swider, who took the company public, resigned in April, and Robert Lighthizer stepped down in March.
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