The Batista brothers, Joesley and Wesley, are behind JBS, the world's top meat producer. They've had a rough ride with the law, facing charges for bribing over 1, 800 politicians in Brazil. Despite this, they're set to list their company on the New York Stock Exchange. This move comes after a decade of delays due to scandals, including bribes to meat inspectors and illegal campaign contributions. The brothers have also faced U. S. accusations of price-fixing, wage manipulation, and child labor law violations. They were briefly jailed in Brazil for insider trading and corruption charges.

    JBS has grown into a global giant with over $77 billion in annual revenue. Its major U. S. brands include Swift, Pilgrim’s Pride, Primo, Blue Ribbon, and Certified Angus Beef. The company's U. S. listing has faced bipartisan opposition in Congress. Last year, 15 senators denounced a potential IPO, and former Florida Senator Marco Rubio has been a vocal critic, requesting investigations into JBS’s acquisitions. The timing of JBS's SEC approval raised eyebrows. It came just two days after a JBS subsidiary, Pilgrim’s Pride, donated $5 million to Donald Trump’s inaugural committee. This donation was the largest, dwarfing contributions from tech giants like Amazon and Microsoft.

    JBS denies any link between the donation and the SEC approval. They claim their political contributions are transparent and ethical. The company has also benefited from policy changes under the Trump administration, including a decision to stop enforcing the Foreign Corrupt Practices Act. This law, which dates back to 1977, prohibits U. S. companies from bribing officials. JBS's parent company, J&F Investimentos, paid hefty fines for corruption charges in 2020. The Batistas, who are Brazilian citizens, also settled civil penalties with the SEC. Despite these scandals, JBS is moving forward with its U. S. listing, which could double its value and give it access to U. S. investors. This move might increase regulatory oversight, but it also raises questions about the company's past and future conduct. The Batista family will retain significant control over JBS, with their holding companies owning nearly 50% of the company. This control ensures their involvement for years to come. Critics argue for a strong, independent board to oversee the company's operations and ensure ethical practices. The environmental impact of JBS's operations is another concern, with allegations of deforestation and exploitation of indigenous lands. The company denies these allegations but acknowledges the need for sustainable practices. The U. S. listing could provide JBS with more resources to address these issues, but it also highlights the need for vigilant oversight and accountability.

The Meat Giant's Big U. S. Bet

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