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.
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.
Microsoft founder Bill Gates purchased $1.7 million worth of shares of Bud Light, a market value of around $95 million, during the second quarter of 2023.
— Brad Porcellato (@BradPorcellato) September 6, 2023