Trump Media CEO Predicts Truth Social Will Be Profitable Despite Reported Losses

Trump Media CEO Devin Nunes said the parent company of Truth Social is "well positioned" to be profitable despite recent criticism and losses.

Regulatory filings showed Trump Media & Technology Group lost $58 million in 2022 and generated little revenue.

Nunes said Truth Social was built at a fraction of the cost of "big tech dinosaur companies."

Truth Social has $200 million in the bank and no debt, according to Nunes.

Former President Trump has continued to tout Truth Social's success despite the reported losses.