News

Bill Gates Shows Support for AB InBev Amid Boycott Calls

1 Mins read

During the second quarter of this year, there were calls for a boycott of Bud Light parent company, Anheuser-Busch InBev. However, despite this, Microsoft co-founder Bill Gates, one of the world’s wealthiest individuals, appeared to throw his support behind the company.

The Bill & Melinda Gates Foundation Trust, which manages assets for the foundation, purchased approximately 1.7 million shares of AB InBev during the second quarter, amounting to around $96 million. This information was revealed in a regulatory filing on Aug. 14, although it had been reported by other outlets earlier.

The timing and reasons for the purchase, as well as whether the trust still holds these shares, remain unclear at the moment. The Bill & Melinda Gates Foundation has yet to comment on the matter.

The boycott, which began in April and was led by conservatives, was triggered by Bud Light’s brief promotional collaboration with a transgender influencer named Dylan Mulvaney. As a result of this ongoing boycott, Bud Light has experienced a significant drop in sales and a decline in its U.S. market share.

Since June 30, AB InBev shares have fallen by 1.1%, resulting in a loss of approximately $1.1 million in value for the shares purchased by the trust.

On Wednesday, AB InBev shares saw a modest increase of 0.2%. However, year to date, the stock is down by around 6%.

The majority of the decline in stock value occurred in May when the boycott started gaining momentum.

Related posts
News

Wealthy foreign crypto investors descend on President Trump's golf...

4 Mins read
Top-25 meme coin holders to enjoy private VIP reception with Trump *Best Forex Trading Robots For 2022 Democratic lawmakers demand attendee names,…
News

Chinese Firms' Plan to Avoid Stock Delisting: Buy Trump's Memecoin

1 Mins read
A technology company called GD Culture Group said on May 12 that it had struck a $300 million funding deal to help…
News

Dogecoin (DOGE) Realized Profits Soar 225% in 24 Hours

1 Mins read
Dogecoin (DOGE) is once again attracting attention in the crypto market following a massive increase in profits and activity lately. According to…

Leave a Reply

Your email address will not be published. Required fields are marked *