{"id":25815,"date":"2024-04-08T03:18:28","date_gmt":"2024-04-08T08:18:28","guid":{"rendered":"https:\/\/ustower.net\/?p=25815"},"modified":"2024-04-08T03:18:33","modified_gmt":"2024-04-08T08:18:33","slug":"trump-media-ceo-devin-nunes-says-truth-social-parent-company-is-well-positioned-in-response-to-criticism-over-profitability","status":"publish","type":"post","link":"https:\/\/ustower.net\/?p=25815","title":{"rendered":"Trump Media CEO Devin Nunes says Truth Social parent company is \u2018well positioned\u2019 in response to criticism over profitability"},"content":{"rendered":"\n

Trump Media CEO Devin Nunes\u2002<\/u><\/a>said the parent company of the former president\u2019s Truth Social platform is \u201cwell positioned\u201d to turn profitable in response to recent criticism.<\/p>\n\n\n\n

Fox News host Maria Bartiromo\u2002<\/u><\/a>asked Nunes on \u201cSunday Morning Futures\u201d when he expects the company to turn profitable after recent regulatory filings showed Trump Media & Technology Group losing $58 million in 2023<\/u><\/a>. The filings<\/u><\/a> showed that the company \u2014 which went public last month \u2014 generated about $4.1 million in revenue last year, with slightly more than $750,000 coming in during the fourth quarter.<\/p>\n\n\n\n

Nunes said the company was \u201coverregulated\u201d when asked about the filings and said that the company was \u201cwell positioned\u201d because it has no debt. The company went public last month after finalizing its merger<\/u><\/a> with the blank check company Digital World Acquisition Corp. (DWAC) after more than two years of delays.<\/p>\n\n\n\n

\u201cSo, if you actually look at the cost that we built Truth Social, our beachhead against big tech, an impenetrable beachhead that everybody said couldn\u2019t be done without using big tech companies, that was built for a fraction of what many of these big tech dinosaur companies were built from,\u201d he said.<\/p>\n\n\n\n

\u201cSo, even if you take the ridiculous cost that it took us to get to this point, we are well positioned. Why are we well positioned? Because we have no debt. We\u2019re coming out of this with no debt, a platform that works really, really well that communicates to millions of people, and then we have $200 million in the bank,\u201d he added.<\/p>\n\n\n\n

He did not say when he expects the company to turn profitable during the interview Sunday. Nunes stepped down from representing California in the House in 2021 to become the CEO<\/u><\/a> of Trump\u2019s media company.<\/p>\n\n\n\n

After the filings showed the staggering loss, Trump Media\u2019s stock shares dropped. As of Friday, shares had fallen to about $40 after shares rose as high<\/u><\/a> as $79.38 during its first week of trading.<\/p>\n\n\n\n

Despite reporting a $58 million loss, former President Trump\u2002<\/u><\/a>has continued to tout<\/u><\/a> the platform\u2019s success.<\/p>\n\n\n\n

\u201cAll of the competitors to TRUTH SOCIAL, especially those in the Radical Left Democrats Party who are failing at every level, like to use their vaunted \u2018disinformation machine\u2019 to try and convince people, and it is not easy to do, that TRUTH is not such a big deal and doesn\u2019t \u2018get the word out\u2019 as well as various others, which they know to be false,\u201d Trump posted last week.<\/p>\n\n\n\n

Thehill<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Trump Media CEO Devin Nunes\u2002said the parent company of the former president\u2019s Truth Social platform is \u201cwell positioned\u201d to turn profitable in response to recent criticism. Fox News host Maria Bartiromo\u2002asked Nunes on \u201cSunday Morning Futures\u201d when he expects the company to turn profitable after recent regulatory filings showed Trump Media & Technology Group losing $58 million in […]<\/p>\n","protected":false},"author":5,"featured_media":25816,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1155],"tags":[2552,27720,1230],"class_list":["post-25815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-company","tag-nunes","tag-trump"],"_links":{"self":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/25815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25815"}],"version-history":[{"count":1,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/25815\/revisions"}],"predecessor-version":[{"id":25817,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/25815\/revisions\/25817"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/media\/25816"}],"wp:attachment":[{"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}