Bill Gates is anticipating a huge comeback for Bud Light, so much so that he's bought nearly $10 million worth of shares in Anheuser-Busch.
Once considered a staple in the American beer landscape, Bud Light's popularity has taken a nosedive over the last six months following a partnership with transgender activist Dylan Mulvaney.
The calls to boycott the beer came from both right and left-wing commentators - as one side was angry that the partnership happened in the first place, while the other was appalled when Mulvaney was left to deal with death threats on her own.
Among the critics was Kid Rock, who is known for his affinity for firearms, so he took it upon himself to publicly destroy cases of the beer he had presumably purchased, using an assault rifle.
Since the collaboration with Mulvaney, Anheuser-Busch, Bud Light's brewer, has faced a severe blow, with its market value plummeting by a staggering $27 billion.
Despite this, it seems like Bill Gates is backing the brand to have a big comeback, as the Bill and Melinda Gates Foundation Trust bought 1.7 million shares of Anheuser-Busch last quarter, valued at $95 million, according to CNN.
The man behind Microsoft hasn't seen any return on his investment just yet - in fact, he's lost money as the stock has dipped around 2% since the purchase.
According to CNN, Bud Light's sales to US retailers declined by 14% while in contrast, Modelo, another brand under the Anheuser-Busch umbrella, experienced a remarkable surge in sales.
Modelo Especial, which is part of Anheuser-Busch but operated in the US by Constellation Brands, reported an impressive 11% increase in sales for the second quarter of 2023.
To add to Bud Light's woes, YouGov polled a nationally representative sample of 1,468 Americans during the second quarter of this year. Guinness, Corona, and Heineken emerged as the new darlings of American beer drinkers, garnering approval from 58%, 53%, and 51% of respondents, respectively. In the second quarter of 2023, only 42% of Americans expressed a liking for Bud Light
This isn't the first time that Gates has dabbled in beer, as despite professing that he doesn't drink it all too much, he purchased nearly $1 billion worth of shares of Heineken Holding earlier this year.
Mulvaney, who had remained relatively quiet amid the controversy, broke her silence on social media, chastising Anheuser-Busch for its perceived lack of support during the relentless online abuse she endured as a result of the campaign.
She said: "I was waiting for the brand to reach out to me, but they never did. I've been scared to leave my house. For a company to hire a trans person and then not publicly stand by them is worse than not hiring a trans person at all. I have been ridiculed in public, I've been followed, and I have felt a loneliness that I wouldn't wish on anyone."
On the flip side, Kid Rock, despite being open about his distaste towards the brand, has since been spotted selling it at his bar and drinking it himself.
Even if Bud Light doesn't return to the heights it once hit, Gates can probably afford it.
