Due to the high demand and the increasing production rate of plastic materials, vast amounts of wastes are generated every year. An important fraction of these wastes contain polystyrene (PS), which is seldom recycled, neither mechanically nor chemically. While several chemical recycling strategies have been developed, they are either very energy-demanding or produce chemicals that can hardly be employed in the synthesis of plastics (e.g., benzene and benzoic acid). Here, we report the upcycling of PS waste into aromatic polyacids, useful in polyester synthesis, such as polyethylene terephthalate (PET). To this end, a conventional Friedel-Crafts acylation was first investigated, to produce an acylated PS chain, using acetic anhydride and stoichiometric amounts of AlCl3. As a catalytic alternative, the alkylation of PS was studied, using InCl3 and isopropyl acetate. The acylated and alkylated PS samples were then oxidized to produce terephthalic (TA), isophthalic (IPTA), benzoic (BA), and trimesic (TMA) acid.