Donald Trump’s media company, Trump Media & Technology Group (TMTG), is facing internal turmoil despite its soaring stock price. In recent weeks, at least three senior managers have been dismissed or pushed out amid employee complaints about the leadership of CEO Devin Nunes, a former Republican congressman. The departures followed an anonymous letter from several employees to Trump Media’s board, which they described as a whistle-blower complaint.
The letter accused Nunes of being over-reliant on foreign contract workers and of mismanagement. Employees expressed concern that Nunes’s directive to hire foreign contractors was inconsistent with the “America First” principles that the company purportedly stands for. Trump Media has sought to outsource some work to Cosmic Development, a technology company based in Canada that operates in Macedonia and Serbia, according to two sources with knowledge of the matter.
Internal conflict at Trump Media
Trump, who remains the largest shareholder of Trump Media and the primary draw for users on Truth Social, has frequently criticized U.S. companies outsourcing jobs abroad during his campaign trail speeches. This adds a dimension of irony to the current internal strife.
The internal conflict at Trump Media comes at a time when the company’s stock price is soaring, presenting a stark contrast between its financial performance and the challenges it faces within its workforce. TMTG’s stock has seen a significant rise in market value over the past month, despite the increased turmoil behind the scenes. As the 2024 presidential election approaches, the performance of Trump’s media company is likely to remain in the spotlight.
The internal strife and management issues, however, raise questions about the company’s ability to navigate the challenges ahead and maintain its current market valuation.
