Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTRinna DiamantakosTue, July 7, 2026 at 10:30 PM GMT+2 4 min readWin McNamee/Getty ImagesA private prison operator that President Donald Trump owns stock in (1) has announced it has sold two of its detention centers to the federal government for nearly $1.5 billion.CoreCivic says two of its California detention facilities (2) have been sold to the government to use as immigration prisons. In a news release (3), the company said the sale was completed on July 2 and includes the 2,560-bed California City Detention Facility in California City and the 1,994-bed Otay Mesa Detention Center in San Diego.Must ReadAlthough the federal government now owns the facilities, CoreCivic says it will continue to manage both locations as part of its contracts with the U.S. Immigration and Customs Enforcement (ICE). The company added that the terms of the contract may be renegotiated now that the federal government owns the properties.Trump's financial disclosureThe sale comes nearly a week after Trump's 2025 financial disclosure (1) was released, which revealed he also owns stock in GEO Group, another private prison operator that contracts with ICE.According to the disclosure, Trump began purchasing GEO Group shares just 10 days after his inauguration. Similarly, he first purchased CoreCivic stock in February 2025 and continued to buy and sell shares in both companies throughout the year.The two companies have posted strong financial results as the Trump administration has expanded immigration detention operations.GEO Group's net income surged from $31.9 million in 2024 to $254.3 million in 2025 (4). GEO Group Founder George Zoley told investors the company reached roughly $520 million in annual revenue, marking the most new business (5) the company had won in a single year. First-quarter 2026 earnings are up 17% year-over-year.CoreCivic earnings have also risen, with full-year income up about 69% to $116.5 million (6). First- quarter earnings (7) for 2026 show the company is outperforming its 2025 Q4 earnings so far.In a statement to Moneywise, CoreCivic Public Affairs Senior Director Ryan Gustin said that the latest sale to the federal government is not uncommon and that the process was rigorous and marked with integrity.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info