The beer company has had a devastating third quarter due in large part to its decision to partner with social media transgender influencer Dylan Mulvaney in marketing Bud Light.
The New York Post reports that Anheuser-Busch shares continue to fall — losing over 3% in just the last five days. Axios reported that the Mexican brand beer Modelo is poised to take the No. 1 spot in off-premise beer sales in America.
Gates, 67, has the “buy low” business principle down — but many question if the financier will be able to sell high. Bud Light had been the No. 1 beer brand but has been villainized by many notable music artists, including Kid Rock.
Tipranks reported that Gates purchased $95 million in shares via his Bill & Melinda Gates Foundation Trust.
Open Secrets reported that many who have left the Bud Light brand are conservatives — angry that the company infused woke ideology into their product. Their report noted that Anheuser-Busch and its employees overwhelmingly support Republicans through donations, giving 353 percent more ($1.78 million) to Republican candidates and committees than to Democrats in 2022.
Gates is widely viewed as a supporter of “woke” initiatives — his involvement with Anheuser-Busch may invite even more conservative scorn on the ailing brewery.
Gates appears to believe Bud Light will make a comeback. Though once declaring he was “not a big beer drinker,” Gates continues to add beer companies to his financial portfolio. In February, he purchased 10.8 million shares in Heineken Holding NV at a cost of $938.87 million.
Gates also previously purchased shares in Mexico’s FEMSA brewery — which was sold to Heineken in 2010.
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