Devin Nunes resigned from Congress three years ago to become the CEO of the Trump Media & Technology Group (NASDAQ:DJT). Now he is poised to return to government as the head of the President's Intelligence Advisory Board when President-elect Donald Trump takes office — and will continue to hold his position as head of DJT.

What Happened: According to a report by The New York Post, Trump has selected Nunes, a former California Republican congressman, to chair the advisory board which provides counsel to the president on the effectiveness of the nation's intelligence community.

Trump wrote on Truth Social, "Devin will draw on his experience ... and his key role in exposing the Russia, Russia, Russia Hoax, to provide me with independent assessments of the effectiveness and propriety of the U.S. Intelligence Community's activities."

Trump wrote that the Board is made up of "distinguished citizens from outside of the Federal Government," which will permit Nunes to continue to run Trump Media & Technology Group, a public company with a nearly $8 billion market cap. Trump is DJT's largest shareholder, holding roughly 115 million shares that are currently worth about $4.2 billion.

Nunes chaired the House Intelligence Committee during Trump's first term and became a fierce defender of Trump during the Russia collusion investigation and Special Counsel Robert Mueller's probe. Former White House strategist Steve Bannon said at the time that only one other member of the House — Mark Meadows, who would become White House chief of staff — was closer to Trump than Nunes.

Trump awarded Nunes with the Medal of Freedom in January 2021, shortly before he left office. Forbes wrote in October that Nunes has earned approximately $2 million in salary, $600,000 in cash bonuses, and shares worth another $3.2 million since joining Trump Media & Technology Group — "about 13 times as much money" as he would have made if he stayed in Congress.

Why It Matters: Nunes' appointment to the President's Intelligence Advisory Board is significant given his long-standing relationship with Trump and his pivotal role in defending the former president during his first impeachment. His appointment could signal a shift in the direction of the intelligence community under the Trump administration. Nunes' experience and his past criticism of intelligence investigations could potentially influence the board's future recommendations and assessments.

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