Here is your Forbes Daily Briefing for Thursday, October 17th.

Today on Forbes, how much Devon Nunez has earned running Truth Social.

For many investors, Trump Media and Technology Group has been a disaster.

Since peeking at $79.38 in March,

the stock has crated 62% to $29.95 even after a recent resurgence.

Trump media, having already burned through 58.2 million dollars in 2023, reported a further $16.4 million quarterly loss in August,

half of which it attributed to legal expenses.

Yet, the company has been a cash cow for at least one former dairy farmer, CEO and

former Congressman Devon Nunez.

Since leaving the House of Representatives to take over Trump media in January 2022.

Forbes estimates that Nunez has raked in roughly more than $2 million in salary,

$600,000 in cash bonuses,

and shares worth another $3.2 million.

He's even pulled in some $230,000 in housing stipends on the company dime,

according to an analysis of public filings.

Add it all up, and Forbes estimates that Nunez has made roughly $6.3 million, about 13 times

as much money running Trump's tottering social media company

than he would have made if he stayed in Congress.

Nunez was earning $174,000 as a 10-term member of the House,

representing a rural California district, when Trump

tapped him to be the CEO and a director of Trump media, the parent company of Truth Social,

in December 2021.

...