Private prison industry backs Trump, prepares if Biden wins Speaking to investors last week, the founder of the private prison company GEO Group predicted his company would rebound after the November electionHOUSTON -- Executives at the nation’s two largest private prison companies have been donating large sums to President Donald Trump and Republican candidates with an eye toward the November elections that one of the corporations believes will lead to a rebound in its stock price. The fortunes of private prison companies have become increasingly intertwined with the nation’s politics in an era when the Trump administration has been detaining tens of thousands of immigrants and asylum seekers at their facilities. According to the American Civil Liberties Union and Human Rights Watch, private prison companies operate about 80% of beds in the immigration system. The private immigration system has grown under presidents of both parties over the last four decades. Experts say the divestment campaign has restricted the private prison companies' ability to borrow and invest money.

Source: ABC News August 13, 2020 18:26 UTC