Bill Gates' Foundation Just Made a Big Bet on Anheuser-Busch and Bud Light, Despite Declining SalesThe Bill and Melinda Gates Foundation Trust acquired approximately $95 million of Anheuser-Busch shares during the same period the company reported a dip in revenue for Q2 2023.
Key Takeaways
- Billionaire Bill Gates acquired $95 million worth of 1.7 million shares last month.
- The company owns Bud Light, which has faced backlash and declining sales following a partnership with transgender influencer Dylan Mulvaney in April.
Last month, Anheuser-Buschreportedthat its U.S. revenue had declined by 10.5% in the second quarter of 2023, primarily due to the declining sales of Bud Light. Sales to U.S. retailers saw a 14% decrease, underperforming the broader beer industry, with a revenue drop of $395 million in North America compared to the same period the previous year.
However, one notable billionaire, Bill Gates, seems optimistic about the beer brand's future.
In the previous quarter of 2023, the Bill and Melinda Gates Foundation Trust acquired 1.7 million shares of Anheuser-Busch, worth about $95 million, according to an证券交易委员会的文件.
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Gates made the stock purchase around the time when Anheuser-Busch reported its second-quarter earnings last month and, despite the investment, has incurred losses on the move thus far — the company's stock has declined nearly 2% since his purchase and dropped 7% for the year, CNNreported.
Since Bud Light's collaboration with transgender influencer Dylan Mulvaney last spring,Bud Lighthas been embroiled in controversy, with some critics slamming the partnership and others slamming the response to thebacklash.
Anheuser-Busch CEO Michel Doukeris, however, said on an earnings call in July that the boycotts and controversy havenot significantly impactedthe company's sales. Doukeris stated that while he didn't want to "minimize" the controversy, the dip in Bud Light's U.S. sales in the first few weeks of April only accounted for 1% of the company's total global revenue during that period.
"With this perspective, and in the context of our global business, we believe we have the experience, the resources and the partners to manage this," Doukeris said at the time.
