JBS Makes Wall Street Debut As Batista Brothers Stage Remarkable Comeback

(RTTNews) - JBS SA, the meat producer, began trading on the New York Stock Exchange on Friday under the ticker symbol "JBS," marking the culmination of a 15-year pursuit of a U.S. listing.

The stock opened at $13.65 per share, giving the company a market value of around $30 billion outpacing rival Tyson Foods' market capitalization of roughly $19.8 billion.

The long-awaited listing follows JBS's recent delisting from Brazil's São Paulo exchange and comes nearly a decade after the company's controlling shareholders, Joesley and Wesley Batista, became central figures in Brazil's biggest corruption scandal.

The brothers, once ousted and jailed on charges of bribery and insider trading, have since returned to JBS's board and regained significant political influence, highlighted by frequent meetings with President Luiz Inácio Lula da Silva and Brazil's top policymakers.

JBS generated $77.2 billion in revenue and $2 billion in net income last year. With operations spanning more than 20 countries, JBS commands a vast global presence.

Its U.S. subsidiary, Pilgrim's Pride, which holds a dominant position in poultry, drew political attention for a $5 million donation to Donald Trump's 2017 inauguration committee—prompting concerns from lawmakers about potential conflicts of interest.

The company's U.S. listing was delayed for years due to repeated postponements and the fallout from a $3.2 billion settlement paid by parent company J&F Investimentos to resolve bribery charges in 2017. A Brazilian Supreme Court ruling later suspended a separate $2 billion fine, and the Batista brothers were acquitted of insider trading allegations, clearing their path back to leadership.

Now, with SEC approval secured and shareholder backing obtained, JBS is positioning itself to tap U.S. capital markets to fund further expansion, while continuing to navigate the shadow of its past controversies.