Politics? Profits? Bill Gates Invests Almost $100M in Anheuser-Busch Amid Bud Light Boycott; Follows investment in Heineken
The Bud Light situation and investment as envisioned by machines.
Bill Gates recently invested $95 million in Anheuser-Busch, purchasing 1.7 million shares through his Bill & Melinda Gates Foundation Trust. The investment comes as the beer company faces a national boycott led by conservatives, including singer Kid Rock, following a marketing campaign featuring transgender influencer Dylan Mulvaney. The campaign led to a nearly 9% drop in Anheuser-Busch’s share price over the past six months.
In February, Gates took a 3.76% stake in Heineken Holding NV, valued at $939.87 million at the time of purchase .
Kid Rock’s Mixed Signals on Boycott
Despite calling for a boycott against Bud Light and Anheuser-Busch, Kid Rock’s Nashville bar, Big Ass Honky Tonk Rock ‘n’ Roll Steakhouse, continues to offer Bud Light, Budweiser, and Bud Light Lime. The bar’s online menu lists these products, raising questions about the sincerity of the boycott .
Boycott Impact and Reactions
The boycott against Bud Light began in April 2023, following an influencer campaign in which the company sent Dylan Mulvaney a few cans with their likeness to promote on social media. Kid Rock’s video shooting up cans of Bud Light went broad and sparked the boycott.
Sales of Bud Light fell between 11 and 26%, while Anheuser-Busch’s sales fell about 1%. Billy Busch, heir to the Anheuser-Busch fortune, blamed the company’s leadership for the drop in sales. Meanwhile, some members of the LGBT community have initiated their own boycott against Anheuser-Busch for not standing my the community they have long marketed to and derived huge profits for decades.
No Comments from Gates or Anheuser-Busch
Representatives for the Bill & Melinda Gates Foundation did not immediately respond to requests for comment on the investment. Anheuser-Busch also has not commented on the ongoing boycotts. Already suspected by the right, and especially the Kid Rock set of pushing Covid vaccines for fun and profit, it’s an interesting move.
For more on this topic, check out Towleroad’s coverage on Anheuser-Busch’s backlash over a transphobic ad, Brian Sims Calls For Yuengling Beer Boycott In Philly’s Gayborhood, and How Much Credit Should Corporations Get For The Advancement Of LGBTQ Rights.
