Market News

Bill Gates’ Foundation Invests $95 Million in Anheuser-Busch Stock Amid Bud Light’s Financial Setback

AnheuserBusch, Bill, Bud, Financial, Foundation, Gates, Invests, Lights, Million, Setback, Stock

SEO Friendly News Article

Bill Gates’ Foundation Trust Buys Shares of Anheuser-Busch InBev

The Bill and Melinda Gates Foundation Trust purchased 1.7 million shares of Anheuser-Busch InBev, worth about $95 million, after the company faced controversy and declining stock prices. This purchase was made in the last quarter, as reported in an SEC filing.

Controversy Surrounding Bud Light

Anheuser-Busch experienced a decline in Bud Light sales following an Instagram ad campaign with Dylan Mulvaney, a transgender actress and activist. This partnership outraged many conservatives, leading to calls for a boycott of the beer. As a result, Bud Light saw a 23% decline in May and a 28% decline in June compared to the previous year.

Anheuser-Busch’s Efforts to Boost its Image

In response to the backlash, Anheuser-Busch released patriotic ads and a statement from CEO Brendan Whitworth, emphasizing their intention to bring people together over a beer. However, the company still had to lay off close to 2% of its workforce, about 380 employees, in July.

Anheuser Busch’s Stock Price History

On March 31, Anheuser-Busch’s stock price reached its highest point of the year at $66.53 per share. However, as the controversy grew, the stock price dropped to $53.40 per share on May 31, a new low. Currently, the stock price stands at $56.20 per share on Sept. 7, down 5.74% year to date.

Bill Gates’ Investment in Anheuser-Busch InBev

The Gates Foundation trust, managed by Bill Gates, acquired the 1.7 million shares of Anheuser-Busch InBev in June. Bill Gates, with an estimated net worth of $111.2 billion, invests in various companies through the trust. The trust’s major investments include Walmart, Microsoft, and Deere & Co. Earlier this year, Gates also bought a 3.76% stake in Heineken.

Leave a Comment