5 • 4 Ratings
🗓️ 13 August 2025
⏱️ 10 minutes
🧾️ Download transcript
Trump Media, which lost $20 million last quarter while expanding into new products, including crypto, awarded CEO Devin Nunes $5.9 million in stock on Wednesday, with the shares set to vest over three years, according to an SEC filing.
Read the full story on Forbes: https://www.forbes.com/sites/zacheverson/2025/08/09/trump-media-djt-devin-nunes-stock-truth-social-bitcoin-losses/
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0:00.0 | Hi, everybody. I'm Brittany Lewis, a breaking news reporter here at Forbes. Joining me now is my Forbes |
0:08.0 | colleague, staff writer Zach Everson. Zach, thanks so much for joining me. Thanks for having me back, |
0:13.4 | Brittany. Zach, you and I have talked about Trump media plenty of times before. You're reporting |
0:18.3 | now, though, that they did lose $20 million last quarter, |
0:22.0 | but no fear that did not stop them from giving the CEO millions in stock. What can you tell us? |
0:28.0 | Well, I would rather be discussing the Taylor Swift new album since that's the bigger news. |
0:32.5 | But instead, let's go into Trump media. Yeah, they filed a quarterly report a couple weeks ago that they lost |
0:39.2 | $20 million in the quarter on just $883,000 in revenue. To give you some perspective, |
0:45.9 | that is about how much an average mall-based Chick-fil-A brings in in the course of a quarter. |
0:52.2 | You know, not one of those stand-alone chick-fil-aes, they do better than that, just one of the malls ones. So not great, but Devin Nunes, and according |
0:59.6 | to a filing of the company, made a few days after that, was given 348,000 restricted stock units. |
1:06.5 | Now, what those are are units that he can then exchange for shares with the company on a one-to-one |
1:11.5 | ratio. And he needs to be with the company over the next three years to get all of them. |
1:16.1 | He will get them in equal installment. So, you know, that was a nice little $4.9 million |
1:21.1 | based on Friday's clothes for a company that's not doing all that great on the balance sheet, |
1:26.7 | although it has launched |
1:27.6 | several new products and gone in some interesting ways in the recent months. |
1:31.1 | That really sounds like a carrot that Trump media is giving Devin Nunes, right? |
1:36.1 | Stay here for three years at least. Then you can cash out on the stock, make millions. |
1:41.8 | I'm curious if his performance reflects these millions. |
1:45.2 | How has his tenure been going at Trump Media, rather? |
1:49.5 | Is he qualified to be getting this much stock? |
... |
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