According to reports, billionaire Microsoft founder Bill Gates is betting big on Anheuser-Busch to bounce back after Bud Light’s disastrous partnership with trans TikToker Dylan Mulvaney cost the company billions in market value.
From Newsmax:
The billionaire appears to be betting on the company’s rebound after it lost hundreds of millions starting in April due to a failed TikTok advertising campaign with transgender influencer Dylan Mulvaney.
Gates also invested 10.8 million shares on Feb. 17, worth nearly $940 million, towards Heineken – the most prominent global competitor of Bud Light parent company Anheuser-Busch InBev SA/NV.
Since the failed advertising campaign, Bud Light has lost its position as America’s number-one beer brand to Modelo Especial. It previously held the number one spot for over 22 years, per NBC News.
Bud Light sales in off-premise locations have plummeted 20.1% on a volume basis since last year, with Modelo sales surging up 9.6% in volume.
https://twitter.com/BradPorcellato/status/1699430565848518870?s=20
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