Bill Gates' foundation buys $95 million worth of Bud Light parent company's stock
With all the controversy Bud Light has gotten into in the last year, it looks like one billionaire isn’t wasting time taking advantage of a good deal.
Bill Gates' foundation trust recently bought 1.7 million shares of Anheuser Busch InBev, which is part of Bud Light’s Parent Company.
This comes after the company experienced controversy with transgender activist Dylan Mulvaney back in April of this year, something that was triggered over an online collaboration on Instagram.
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The political backlash unfortunately caused by Mulvaney's collab resulted in declining stock prices.
People including Kid Rock called for a boycott of the beer and subsequently, sales dropped by 23% in May and 28% in June respectively, according to Bump Williams, which tracks alcohol sales.
A lot of the controversy also caused death threats to be sent to Mulvaney, with her taking to social media accounts to talk about the type of hate she was getting for her part in the campaign.
Though people threw her some nasty comments, she largely chose to turn it into positivity and defiantly drank some of the beer in a video as a response.
The dip in sales led Anheuser Busch to try to salvage their sales back by releasing patriotic ads but ultimately, the brand lost.
But that’s not stopping Microsoft Bill Gates, who has decided that the company could use a high-profile investor.
The Bill and Melinda Gates Foundation Trust bought the shares — valued at about $95 million — last quarter, according to an SEC filing.
Although Bud Light’s decision to send a customised beer can to Mulvaney sparked a transphobic backlash, the brand is new facing greener pastures with this investment deal.
But Gates’ trust has actually lost money on his investment so far, with Anheuser Busch’s stock being down nearly 2% since the purchase.
Somehow I don’t think this will be enough to deter the billionaire, do you?
Gates, who Forbes estimates is worth around $111.2 billion, is a keen investor, using his trust to close deals such as with Walmart, Microsoft and Deere & Co.
It seems as though Gates is taking an interest in beer though, as Reuters reported him taking a 3.76% stake in Heineken earlier this year.
So, maybe he’s just deciding to give his pallet a little beer variety?
Topics: Bill Gates, Celebrity, US News, Business, Microsoft
Britt Jones