Gov. Ron DeSantis Asks State to Review Holdings of Anheuser-Busch InBev For Pushing ‘Radical Social Ideologies’
By Fox News // July 22, 2023
Bud Light’s sales volume fell by 27.1% over 12-week period
ABOVE VIDEO: We’re launching an inquiry about Bud Light and InBev: Ron DeSantis
(FOX NEWS) – Florida Gov. Ron DeSantis is asking the head of the State Board of Administration (SBA) to review its holdings of AB InBev, citing the ongoing decline of its subsidiary company Bud Light.
In a letter sent to SBA Executive Director Lamar Taylor, DeSantis speculated that AB InBev may have “breached legal duties” to its shareholders by partnering with transgender activist Dylan Mulvaney and pushing “radical social ideologies.”
“It has come to my attention that the State Board of Administration (SBA) currently holds global equity assets with Anheuser-Busch InBev (AB InBev),” the governor wrote in the Thursday letter.
“As you well know, AB InBev’s performance has plummeted since its decision to associate its Bud Light brand with radical social ideologies. That fateful decision has transformed America’s formerly best-selling beer — and one of InBev’s best-performing assets — into a commercial pariah. InBev’s losses have been staggering.”
Data from Evercore ISI shows that in the 12-week period leading up to July 2, Bud Light’s sales volume fell by 27.1% over that timeframe – which includes much of the aftermath following Mulvaney’s early April social media post showing the custom can Bud Light provided her with.
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