America
Trump’s class alliances: Which companies are profiting from ICE operations?
Operations conducted by Immigration and Customs Enforcement (ICE) units across the United States offer significant clues regarding the “class alliances” underpinning Donald Trump.
Institutions including companies like Palantir and Deloitte have reaped more than $22 billion in total earnings from contracts with agencies situated at the center of the aggressive immigration measures Donald Trump implemented over the past year.
As reported by the Financial Times (FT), consultants, technology groups, charter airlines, and a wall construction company managed by a presidential ally were among the primary beneficiaries of the surge in spending by ICE and Customs and Border Protection (CBP).
This funding bonanza began following Trump’s inauguration for a second term last January and has accelerated since the enactment of the “big, beautiful bill” in July.
According to the FT’s analysis of government contracting data, the data intelligence group Palantir has secured $81 million in contracts from ICE since January 2025.
Consultancy firm Deloitte, meanwhile, obtained more than $100 million in new contracts from ICE and CBP during the same period.
Regional companies secure major contracts
The Fisher Sand & Gravel group, led by Republican donor Tommy Fisher—which signed a contract to construct sections of a wall on the southern US border—became the top earner from CBP contracts, generating over $6 billion in revenue since July.
The single largest beneficiary of ICE contracts was CSI Aviation, a company organizing charter flights for the agency. This firm has secured over $1.2 billion in business since Trump returned to office last January.
These windfalls coincide with a period in which ICE spending on contracts more than doubled in the two quarters following the passage of Trump’s historic legislation, rising from $1.5 billion in the previous six months to $3.7 billion.
CBP spending on private sector companies increased sevenfold between the first and second halves of 2025. The agency reported $2 billion in new contract work this month alone—a sum exceeding the total for the entire first half of 2025.
Much of the agencies’ contracting is for routine work, such as modernizing IT systems or providing outsourced data center staffing, often stemming from previous administrations.
Palantir building a “self-deportation tracking” system
However, other contracts relate to new tactics employed by the Trump administration to identify, detain, and deport undocumented immigrants, or to encourage them to “self-deport.”
Palantir, which has held contracts with the agency for over a decade, signed a $30 million deal in April to build an operating system to be used for “self-deportation tracking,” according to a federal contract announcement.
The company also signed a contract to provide tools intended to “facilitate operations for the selection and apprehension of illegal aliens.”
Palantir CEO Alex Karp had previously dismissed concerns regarding the group’s work for the US government.
Karp stated last year:
“I will use all my influence to ensure this country remains skeptical on immigration and possesses a deterrent capacity. Do we have to pretend that having borders is immoral?”
AI-based language models in the service of immigration enforcement
According to the 2025 DHS AI Use Case Inventory published by the US Department of Homeland Security (DHS), ICE has been using Palantir’s AI products to process large volumes of civilian reports since May of last year.
This tool, named the “AI-Enhanced ICE Report Processor,” utilizes large language models (LLMs) to summarize or categorize received reports and offers functionality to translate reports received in non-English languages into English.
The “Advanced Lead Identification and Enforcement Target Selection” tool, which ICE has utilized since June of last year, was also purchased from Palantir.
This tool, known by the acronym “ELITE,” uses artificial intelligence to identify leads—such as the addresses of enforcement targets, including for deportation—and allows agents to share this information.
It has also been revealed that ICE uses Palantir-based generative AI for internal developers’ code writing and system administration.
Anduril’s surveillance towers in the “Big, Beautiful Bill”
Trump’s legislation also mandates that all new border surveillance towers be certified as “autonomous.” According to a report published in The Intercept last July, only Anduril’s “towers” meet this requirement.
Signed into law by President Trump on July 4th, this bill provides significant spending increases for military and law enforcement projects, including over $6 billion for various border security technologies.
These initiatives include the expansion of the “virtual wall”—a growing network of sensor-equipped surveillance towers along the US-Mexico border. On this border, computers are increasingly assuming the task of detecting and apprehending migrants.
Anduril began its operations by selling software-backed surveillance towers to CBP. The company promotes its “Sentry Tower” series for its “autonomous” capabilities, which use machine learning software to constantly scan the horizon and detect potential objects of interest (such as people, vehicles, or animals attempting to cross the border) without the need for human manpower to monitor sensor data.
Thanks to bipartisan support for the vision of locking down the border with computerized eyes, Anduril has become a dominant player in border surveillance, surpassing incumbents like Elbit and General Dynamics.
Indirect support from Big Tech
Deloitte, one of the largest public sector contractors in the US, accepted recent contract updates providing further funding for “law enforcement systems and analytics for enforcement and removal operations.”
Its contracts also contain updated provisions for “internet research and data analysis support services” for ICE’s target identification operations division.
Many major technology companies do not contract directly with the federal government, but their products and services are offered through vendors, making it difficult to determine the financial benefits they derive from the funding surge.
Amazon and Microsoft, the world’s two largest cloud groups, provide services worth at least $75 million and $93 million, respectively, to US agencies.
These services are primarily provided through third-party vendors such as Dell Federal Systems.
In September, ICE awarded a $24 million contract to a third party to provide “hosting support” for services offered by Amazon’s cloud division.
Additionally, it paid Dell $19 million for Microsoft enterprise licenses.
Smaller tech groups, such as Motorola Solutions, have also signed contracts with ICE.
The Illinois-based group holds $19 million in contracts in its own name, while a third-party vendor won a $260 million contract to provide Motorola radios and batteries to personnel involved in enforcement actions.
Furthermore, AI technologies from various major tech companies are being utilized. ICE used a GPT-4 based AI tool from OpenAI to review resumes for recruitment.
AI technologies from Meta, Google, OpenAI, and Anthropic are also in use.
Land and warehouses for new prisons
Despite protests in small towns and cities across the US, the Trump administration continues to purchase warehouses it plans to convert into immigrant prisons as part of a project that could represent the largest expansion of detention capacity in US history.
According to Bloomberg, the cost of purchasing just two warehouses was $172 million. A third warehouse in El Paso, Texas, could become one of the largest prisons in the country with a capacity of 8,500 beds once completed as planned.
These deals mark the latest development in ICE’s plan to utilize 23 warehouses to detain thousands of immigrants arrested by federal agents in Minneapolis and other cities.
On January 16, according to a local court filing, the administration paid $102 million for a plot of land near Hagerstown, Maryland. A week later, the government paid $70 million in cash for a warehouse in Surprise, Arizona.
The prices, which are roughly in line with the industry average for the warehouse market, cover the purchase of these currently vacant spaces.
ICE must pay companies to equip the buildings with toilets, showers, beds, dining, and recreation areas, and subsequently to operate them as detention centers.
The warehouses, most of which were originally designed and marketed as e-commerce distribution facilities, are crucial to the administration’s $45 billion construction of immigrant detention facilities.
In recent weeks, the federal government has toured potential sites in more than 20 cities with companies and shared designs with them, including preferred layouts for at least 15 locations.
According to sources speaking to Bloomberg, companies that will convert these warehouses into prisons have been asked to submit bids for the initial locations, starting with Hagerstown.
The pattern is evident here as well: For instance, in Salt Lake City, the warehouse designated by ICE as a future “mega-center” prison is owned by the Ritchie Group, a local family business.
Following pressure from protesters arriving at their offices, the company announced it had “no plans to sell or lease the property in question to the federal government.”
Meanwhile, KPB Services, the company that won the tender for the design to convert warehouses in Kansas into detention centers, appears to be a shell company.
ICE has increased detention capacity by leveraging long-standing relationships with private prison companies such as CoreCivic and Geo Group. These companies have provided ICE access to additional beds in their existing prisons, purchased and leased new facilities, and reopened shuttered ones.
In earnings calls held in November, these companies stated they could make a total of more than 30,000 beds available should the federal government request them.
British firms among the beneficiaries
Subsidiaries of several prominent UK-based companies have also secured active contracts with these agencies. British private security firm G4S has signed contracts worth $68 million with ICE since January 2025.
These contracts primarily cover providing “ground transportation services” for detainees during enforcement and removal operations.
Smiths Detection, a unit of the London Stock Exchange-listed Smiths Group that manufactures screening and detection technology for border control, has earned over $62 million from CBP contracts during Trump’s second term.
Smiths stated that it provides “threat detection and security screening technologies for ports and borders that curb illegal activity.”
Regional family businesses, Republican donors, Silicon Valley alliance
John Ganz, who closely examined the companies benefiting from ICE and CBP contracts on the Unpopular Front blog, offers significant clues regarding the alliances behind the Trump administration.
According to Ganz, while there are a few publicly traded and venture capital-funded firms, the largest beneficiaries exhibit a striking pattern: They are all regional family businesses displaying dynastic characteristics and are significant donors to the Republican Party.
Moreover, these regional companies have been involved in legally dubious practices. For example, Fisher Sand & Gravel, which sits at the top of the list, is owned by the Fisher family living in Dickinson, North Dakota.
The Fisher family makes generous donations to Republicans, and President Tommy Fisher frequently appears as a guest on conservative TV and radio programs.
The Fisher company’s history includes accusations of environmental violations, questionable labor practices, and, most notably, fraud.
In 2009, Fisher’s then-owner Michael Fisher pleaded guilty to nine counts of tax fraud and was sentenced to 37 months in prison and ordered to pay over $300,000 in restitution.
The company’s former CFO Amiel Schaff and former auditor Clyde Frank were also each found guilty of one count of conspiracy to defraud the US in 2009.
Under a 2009 agreement with the Department of Justice, the company was required to pay a total of $1.16 million in restitution, penalties, and fines, implement measures to prevent future fraud within the company, and cooperate with the IRS in the audit of tax returns.
Another former president of the company, David William Fisher, was found guilty in 2005 of possessing child pornography involving a 10-year-old child and was sentenced to 10 years in prison.
In exchange for his guilty plea, charges of sexual abuse of a minor were dropped, and he was released on April 30, 2010.
According to Ganz, companies further down the list, such as SLSCO, CSI Aviation, and Barnard Construction, fit this same model: regional, closely-held companies that are, so to speak, “politically integrated.”
Scholar Melinda Cooper, cited by Ganz, points to the tension between private, unincorporated, family-based companies and corporate, publicly traded, shareholder-owned companies.
According to Cooper, “family-based” capitalism, which finds representation in the White House with Trump, extends from the smallest family businesses to the vastest dynasties and is essentially shaped by the alliance between the two.
Trump also belongs to this “social class”: a representative of companies whose business methods are “informal”—or, to put it more bluntly, often outright criminal.
Ganz concludes his piece as follows:
“When you add in the presence of [Peter] Thiel-backed firms like Anduril, you start to understand the material basis of the Trump coalition. It is an alliance of family-based regional crony capital and a reactionary section of the tech sector focused on defense and security. Add to that ICE’s function as a jobs program for the Trumpenproletariat gang and all the illiterate influencers, and voila, you get the class composition of real American fascism, which is characteristically a protection racket. It is a gang all the way down.”
America
US Senate panel seeks records in Trump-linked crypto investigation
Richard Blumenthal, the ranking Democrat on the US Senate Permanent Subcommittee on Investigations (PSI), has requested documents from cryptocurrency exchange Binance, Tether, and crypto projects linked to President Donald Trump as part of inquiries into potential financial irregularities and conflicts of interest.
The documents were requested to be submitted by 4 January 2027.
Senators warned that they would resort to compulsory measures if the request was refused.
Entities sent document requests include World Liberty Financial and Fight Fight Fight LLC, both linked to President Trump’s family.
Blumenthal began examining the activities of these entities in May 2025 following reports that they may have engaged in transactions with foreigners under federal criminal investigation, attracted investments from foreign governments, and violated public ethics rules.
Notably, in 2026, it emerged that individuals close to the Abu Dhabi royal family had signed an agreement with the Trump family to purchase 49% of the shares in World Liberty Financial for $500 million.
The company, founded in September 2024 by the US President and his sons, launched a token called WLFI.
According to official disclosures, Trump made $800 million from this token alone.
Conversely, crypto analytics firm Nansen calculated, by tracking 1.48 million crypto wallets, that approximately two-thirds of those who invested in the token after its launch in January 2025 incurred losses.
While many retail investors spent several thousand dollars on purchases, the largest investors poured in millions of dollars.
Trump also launched his own memecoin, TRUMP, on 17 January 2025, prior to his inauguration.
Rising 10.6-fold in value within three days, the cryptocurrency’s market capitalisation reached $15 billion at its peak.
However, after those three days, the price entered a downturn, plunging by 97%.
Trump reported in his financial disclosure that he earned $635 million in income from sales of these memecoins.
In July 2026, Blumenthal held public hearings on the family crypto projects from which the President made $1.4 billion.
The losses suffered by TRUMP memecoin investors were also addressed during these hearings.
Cryptocurrency exchange Binance and Tether, which issues the largest stablecoin, USDT, are under scrutiny over their dealings with the Trump administration.
Lawmakers suspected conflicts of interest stemming from the exchange’s collaboration with World Liberty Financial.
Previously, a group of senators had demanded an inquiry into the terms of the presidential pardon granted to Binance founder Changpeng Zhao.
Separately, The New York Times reported that the United Arab Emirates (UAE) gaining access to American artificial intelligence chips coincided with a $2 billion investment by a UAE entity into Binance using USD1, a stablecoin issued by World Liberty Financial.
While this deal rapidly expanded the volume of tokens in circulation, it enabled Trump’s company to generate revenue from interest on government bonds where USD1 reserves were held.
Trump, for his part, described the report as slander.
America
US credit card debt hits record $1.29 trillion, New York Fed reports
Americans’ credit card debt reached a record $1.29 trillion in the third quarter, according to a new report published by the New York Fed.
Falling behind on credit card payments can trap struggling households in a cycle of fees, credit score downgrades, and increasingly expensive borrowing.
Although delinquency rates across the country have shown improvement, the latest figures indicate that financial distress is concentrated in lower-income communities.
Consumer credit card balances rose by $22 billion in the third quarter, representing an increase of 1.7%. This figure is $52 billion higher than it was a year earlier.
The figures are not adjusted for inflation, which may mean that part of the increase reflects rising prices rather than more borrowing in real terms.
Total household debt, which includes mortgages, student loans, and auto loans, rose by $334 billion in the third quarter to reach a record $19.1 trillion.
This total represents an increase of $5 trillion compared to 2019, just before the pandemic.
The volume of credit card balances falling into serious delinquency is declining, indicating some improvement in Americans’ ability to make their payments on time.
The rate of credit card debt transitioning into serious delinquency fell to 6.9% in the third quarter. However, this rate remains distinctly higher than the 5.2% recorded prior to the pandemic.
Americans living in lower-income neighbourhoods are facing greater difficulty in keeping up with their credit card payments compared to more affluent groups, according to a separate report published by the New York Fed on Tuesday.
Delinquency rates across all neighbourhood income tiers remain above pre-pandemic levels, while the gap between the wealthiest and poorest areas has widened since 2022.
In the lowest-income neighbourhoods, 10.3% of credit card balances transitioned into serious delinquency over the past year.
This is more than double the 4.4% rate observed in the wealthiest neighbourhoods.
The average credit card balance per borrower now stands at $6,678, according to TransUnion’s third-quarter analysis report.
Among borrowers under the age of 30, the rate of credit card debt falling at least 90 days delinquent reached the highest level, according to the Fed’s report.
Democrats won the midterm elections promising to bring down prices, but delivering relief that voters can genuinely feel in their household budgets will be a difficult target to achieve.
America
Mamdani quietly asks Trump to release detained immigrants
New York City Mayor Zohran Mamdani is using his rapport with US President Donald Trump to secure the release of selected detained immigrants.
According to reporting by Politico, Mamdani persuaded Trump during their second White House meeting in February to free a university student who had been detained that day by ICE.
The outcome served as validation for Mamdani, who pointed to the release of the Columbia University senior as proof that his surprisingly cordial relationship with Trump could produce tangible results for New Yorkers.
Mamdani subsequently continued to seek similar immigration-related interventions from the Republican president.
Since that February meeting, Mamdani and his aides have quietly forwarded the names of approximately two dozen immigrant New Yorkers held in ICE custody to Trump’s team, asking the president to order their release.
Two sources familiar with the matter said Mamdani most recently shared names of detained immigrants during a September meeting with Trump at Gracie Mansion.
The sources said the individuals in question had no serious criminal records, though they declined to disclose their identities, citing safety concerns.
According to Politico, these ongoing efforts regarding detained immigrants indicate Mamdani’s belief that he can leverage his rapport with Trump to advance causes the mercurial president might not ordinarily support.
Mamdani’s decision not to disclose these continued appeals publicly suggests an inclination to keep his interventions private to improve their chances of success.
Yet it remains unclear whether any immigrant besides Columbia University student Elmina Aghayeva has actually been released as a result of these efforts, and concern is mounting within City Hall that the window for securing such releases may be closing.
Mamdani’s aides working on the releases, including his Chief of Staff Elle Bisgaard-Church, communicated primarily with Trump’s White House Chief of Staff Susie Wiles, according to people familiar with the matter.
Last week, Trump replaced Wiles with Stephen Miller, the architect of the administration’s most hardline immigration proposals and one of the loudest internal voices urging the president to pursue a mass deportation agenda in his second term.
A person familiar with the Mamdani administration’s thinking said the mayor’s team views it as unlikely that Miller will continue cooperating in the manner Wiles did, given his stance on immigration.
Mamdani spokesperson Dora Pekec declined to comment on internal concerns regarding Miller and did not provide details about the immigrants whose release the mayor had requested.
Pekec noted, however, that Mamdani has “consistently advocated directly on behalf of New Yorkers in his calls and meetings with the president.”
Murad Awawdeh, a close Mamdani ally and president and CEO of the New York Immigration Coalition, said the mayor’s team should not halt engagement with the Trump administration on immigration matters because of Miller’s promotion:
“Stephen Miller is a cruel individual who has spent his career attacking immigrants, but he is not the president; Donald Trump is, and this is his deportation agenda. New York expects the president to work with the mayor to serve this city and end the terror in our communities. Miller’s promotion changes none of that.”
Mamdani’s warm dynamic with Trump has confounded both allies and critics.
During last year’s New York mayoral election, Trump referred to Mamdani as a “communist lunatic” and threatened to have him arrested.
In turn, the 35-year-old democratic socialist branded the president a “fascist” and pledged to fight him relentlessly if elected mayor.
Yet that animosity fell away late last year during their first White House meeting, where an amicable tone prevailed.
The thaw culminated in September at Gracie Mansion, where Trump said Mamdani had “great potential” to be a “terrific mayor.”
Mamdani returned the compliment by noting that the president had “built quite a bit of housing in our city.”
Despite the polite exchange, questions remain over how much substantive progress Mamdani can genuinely secure through Trump, including on immigration.
To date, Aghayeva’s release stands as one of the few concrete concessions Mamdani has obtained from Trump.
Aides on both sides are also discussing a multi-billion-dollar federally backed housing initiative in Queens, and last month Mamdani used his channel to Trump to help secure a temporary visa for a Ghanaian woman whose son was shot and killed in the Bronx.
Beyond those instances, few tangible results have emerged, though Trump’s decision not to enact punitive measures against New York is viewed by Mamdani’s allies as a win for the city.
Trump’s political standing is widely seen as weakened following the Republican Party’s loss of both houses of Congress in elections last Tuesday.
How this political shift will affect Trump’s willingness to engage with ideological adversaries such as Mamdani remains uncertain.
Miller’s appointment as chief of staff appears to signal little presidential interest in moderation, particularly on immigration policy.
Even so, the mayor said last week that he does not intend to stop seeking Trump’s assistance, despite “fierce” policy disagreements.
“We have found an area of common interest in the well-being of New York City, and as long as that can deliver for our city, I’m going to keep that door open,” Mamdani told Politico on Friday in Puerto Rico.
Mamdani and other elected officials from New York had gathered in Puerto Rico for the annual Somos political conference.
Two days later, in an interview on Fox News, a network Trump is known to watch regularly, Mamdani described a “productive relationship” with the president, saying the two text and speak by phone frequently:
“Through those conversations, we were able to get a New Yorker out of ICE detention. We were able to secure a visa for a grieving mother who would have otherwise had to watch her son’s funeral from thousands of miles away. What that tells me is: My job is to deliver for New Yorkers, and I have to work with whoever has the power to do that, wherever they may be.”
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