JBS, the world’s largest meatpacking company, made its long-anticipated debut on the New York Stock Exchange (NYSE) under the ticker “JBS” on Friday. The stock opened at $13.65 per share, valuing the company at approximately $30 billion, significantly more than Tyson Foods, which has a market cap of about $19.82 billion. JBS shares closed slightly higher at $13.87. The listing was initially scheduled for Thursday but was postponed by a day due to unresolved operational procedures.
Global Expansion, Strong Revenues, and a Troubled Journey to U.S. Public Markets
Founded over 70 years ago, JBS has expanded its operations globally, with major divisions in Brazil, the U.S., and Australia. It owns a controlling stake—over 80%—in Pilgrim’s Pride, a major U.S. poultry producer. In 2023, JBS reported net revenues of $77.2 billion and a net income of $2 billion, cementing its dominance in the global meat industry. The company delisted from the São Paulo Exchange in Brazil last week as part of its dual-listing strategy.
JBS Surges on NYSE Debut Despite Long History of Scandals, Fines, and Political ControversyJBS’s path to a U.S. public offering has been fraught with delays and controversy. The company initially announced its intent to go public in the U.S. back in 2009, but plans were repeatedly postponed. In 2016, a U.S. IPO was again proposed as part of a corporate restructuring effort, but a major corruption scandal in Brazil soon erupted. The company and its executives were investigated for bribery and financial misconduct, halting progress on the IPO.
Scandals, Fines, and Political Ties Continue to Haunt JBS Despite U.S. Listing
In 2017, J&F Investimentos—the holding company that controls JBS—paid a $3.2 billion fine to resolve bribery charges. Key executives, including brothers Joesley and Wesley Batista, avoided prison by cooperating with authorities. They also reached a $27 million settlement with the U.S. Securities and Exchange Commission (SEC) in 2020. Though the Batistas had exited the company following the scandal, they returned to the board in 2024 after being cleared of insider trading charges.
Despite efforts to rebrand and stabilize, JBS remains under scrutiny. In October, it was fined by the Brazilian government for sourcing cattle raised illegally in the Amazon. Its U.S. listing faced bipartisan opposition in Congress due to the company’s history of corruption.
However, the SEC approved the listing in April 2025, with shareholders narrowly supporting the move in May. Notably, JBS’s subsidiary Pilgrim’s Pride was the largest donor to President Trump’s 2017 inauguration, contributing $5 million—a fact that has fueled ongoing political controversy surrounding the company.
