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Bill Gates buys $95M worth of Bud Light shares in comeback bid
- Bill Gates' foundation purchased 1.7 million shares of Anheuser-Busch, valued at around $95 million, despite the company's sales slump caused by a transphobic backlash and angering the LGBTQ community.
- Anheuser-Busch reported a 7% decline in stock this year, with a 10% decrease in US revenue in the second quarter, primarily due to falling Bud Light sales. Modelo overtook Bud Light in sales for the first time, albeit by a slim margin.
- In response to the sales decline, Anheuser-Busch announced layoffs within its corporate ranks, affecting less than 2% of its US employee population. Gates, who isn't a big beer drinker, has also invested in other beer brands, such as Heineken Holding.
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Bill Gates’ foundation made a nearly $100 million bet on Bud Light
Originally Published: 06 SEP 23 08:18 ET Updated: 06 SEP 23 18:36 ET By Jordan Valinsky, CNN New York (CNN) — Bud Light’s parent company is having a miserable year. But there’s at least one prominent investor who believes in Anheuser-Busch: Bill Gates’ foundation trust. The Bill and Melinda Gates Foundation Trust last quarter bought 1.7 million shares of Anheuser-Busch, valued at around $95 million, according to a regulatory filing, signaling th…
·Panama City, United States
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Bill Gates bets big on Bud Light with $95 million stock buy
Bill Gates, the multibillionaire co-founder of Microsoft, has purchased $95 million worth of stock in Anheuser-Busch, which has recently seen its stock tumble over the transgender influencer's partnership Bud Light.
·United States
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Coverage Details
Total News Sources33
Leaning Left3Leaning Right13Center15Last UpdatedBias Distribution48% Center
Bias Distribution
- 48% of the sources are Center
48% Center
C 48%
R 42%
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