NEW YORK (AP) — The Trump business behind Truth Social is replacing a former congressman and big supporter of the U.S. president as leader of the social media platform after a stock collapse that wiped out billions in investor wealth.
Devin Nunes, a former California congressmen in Donald Trump's first term, is being replaced temporarily by digital media executive Kevin McGurn as chief executive officer. The company, Trump Media & Technology, didn't give a reason for Nunes leaving or provide a timeline for his permanent replacement.
After soaring shortly before Trump's re-election in November 2024, stock in the company plunged 67%, wiping out more than $6 billion in investor wealth.
Trump Media was formed by the Trump family as an alternative to social media giants that had barred him from posting on their platforms after the January 6, 2021 Capitol riots. It said it would not only take on Facebook and Twitter as a “free speech” alternative, but eventually could become a media giant competing with streaming services such as Netflix.
The stock soared, but it never gained traction with a wide audience despite the president's frequent use of it for major political announcements, slammed by government ethics experts as a conflict of interest with the presidency.
Since it went public two years ago, Trump Media has lost more than $1.1 billion. Nunes got total compensation of $47 million in 2024, the last year for which figures are available.
The new CEO McGurn said in statement that the company was “poised to take off."
“In carrying President Trump’s unique, singular vision and message, Truth Social stands for the most powerful brand and voice in history of social media and beyond,” he said.
The Trump Organization didn’t immediately responded to a request for comment.
The company has recently b ranched into cryptocurrency and another hot business, prediction markets. The latter are online betting venues in which people can wager on sports, entertainment and political events.
Both cryptocurrencies and prediction markets have gotten boosts from the Trump administration, in terms of lighter regulation and outright promotion. Last year, for instance, the Trump established a national bitcoin reserve, pushing up the value of that currency.
McGurn, has worked at NBC Universal, Hulu and DoubleClick, among other companies, according to his LinkedIn profile. He is also the CEO of a new shell company that Trump’s two oldest sons, Donald Jr. and Eric, joined last year to buy U.S. manufacturers. That company originally stated in regulatory filings that it would be targeting businesses hoping to tap federal contracts, which would be awarded by the same government run by their father.
The Trump Organization and the White House have repeatedly denied that there are conflicts of interest b etween Trump's role as president and the family business.
FILE - The download screen for Truth Social app is seen on a laptop computer, March 20, 2024, in New York. (AP Photo/John Minchillo, File)
HOUSTON (AP) — Will Anderson Jr. wasn’t really interested in football as a young child but finally tried it at his family’s urging as he approached high school.
Back then he was a running back, but soon his coach informed him that he’d be moving to defensive end.
The news was not well received.
“I cried,” Anderson recalled Tuesday.
Despite his trepidation, Anderson quickly excelled at the position and on Tuesday he celebrated signing his three-year, $150 million contract extension with the Houston Texans that made him the highest-paid non-quarterback in NFL history.
“It worked out,” he said drawing laughs from everyone in the room.
The extension includes $134 million in guaranteed money.
The $50 million per year Anderson will earn surpasses the $46.5 million per year defensive end Micah Parsons got when he signed a four-year extension with the Packers after a trade from Dallas last year.
“I’ve been so overwhelmed with joy these last couple of days, nonstop tears, and it’s been a blessing,” Anderson said. “And I think for me, I love what I do, and I tell people all the time — they’re like oh, the money… it’s really never ever been about the money for me. It’s always just been about walking to my purpose and doing what God has called me to do.”
The Texans selected Anderson with the third pick in the 2023 draft, trading up to nab the Alabama standout after selecting quarterback C.J. Stroud second in that draft.
Anderson, the 2023 AP Defensive Rookie of the Year, started each game last season and had 12 sacks and 20 tackles for loss — both career highs — to lead a Houston defense that was among the best in the NFL.
His work last season earned him a spot on first team of The Associated Press All-Pro team and he was a finalist for AP Defensive Player of the Year.
In three seasons with the Texans, the 24-year-old Anderson has piled up 30 sacks and 136 tackles, including 46 for loss. He also has 64 quarterback hits in his career and has forced four fumbles and recovered three.
The Texans exercised his fifth-year player option earlier this month so this deal will keep him in Houston through the 2030 season.
His agent Nicole Lynn was asked how the negotiations with Houston general manager Nick Caserio began.
“Nick and I have a really good relationship,” she said. “I don’t know exactly where it started. I think Nick called me, but I think we kind of all knew that it was time for him to get paid.”
Everyone in the Texans’ organization raves about Anderson’s mentality and work ethic. Defensive line coach Rod Wright said that’s what makes him so deserving of this contract.
“The impression he makes on people is like, I’m going to outwork you, I’m going to out study you and he sets the bar for everyone,” Wright said.
Now that Anderson knows he’s going to be in Houston for a long time to come, he’s focused on helping the Texans reach new heights. Houston, which has never been to a conference title game, has lost in the divisional round of the playoffs in each of Anderson’s three seasons.
“Ask me about contract, yeah, the contract is cool, but ask me about winning, that’s more important,” he said. “How we get over this hump, how we can get past the second round is what’s been on my mind.”
According to Next Gen Stats, Anderson ranked second in the NFL last season with 85 total pressures and his 48 pressures on third down were the most by a player since the stat began being tracked in 2014.
While Anderson appreciates those numbers, to him it just means he’s coming up short on getting to the quarterback.
“I haven’t even reached to the period of where I want to be at in my game,” he said. “And I think this offseason I’ve continued to build my body up to be able to bend or to be able to finish on the quarterback. That’s the next step is just be able to finish on the quarterback.”
Anderson isn’t planning to do anything crazy with his money now that he’s signed this huge extension. He really enjoys fishing so he said he’ll likely get a speed boat so that he and his father can continue their fishing trips in style.
Other than that, he’s just thankful that his parents will never have to worry about money again after they went through some lean times while raising him and his five older sisters.
“I think that’s why I got so emotional because these two right here, being in a three-bedroom house with six kids wasn’t easy,” he said pointing to his parents. “Working long nights. My mom got to work overtime. My dad working overtime… it meant the world for me to do what I do.”
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Texans defensive end Will Anderson Jr. poses for a photo with his family and agent during an NFL football press conference in Houston, Texas, Tuesday, April 21, 2026. (AP Photo/Annie Mulligan)
Houston Texans defensive end Will Anderson Jr. speaks during an NFL football press conference in Houston, Texas, Tuesday, April 21, 2026. (AP Photo/Annie Mulligan)
Houston Texans defensive end Will Anderson Jr. speaks during an NFL football press conference in Houston, Texas, Tuesday, April 21, 2026. (AP Photo/Annie Mulligan)
