Microsoft co-founder Bill Gates made a daring investment in the beleaguered beer brand, Bud Light. Gates, known for his far-left leanings, set social media platforms ablaze with reactions ranging from mockery to disbelief.
Bud Light, once America’s top-selling beer, has been grappling with a significant downturn in sales following a controversial marketing campaign featuring Dylan Mulvaney.
The backlash was so severe that it led to a widespread boycott of the brand, causing its sales to plummet and even leading to the layoff of hundreds of employees.
Undeterred by these challenges, Gates has shown remarkable confidence in the brand’s potential for recovery.
The Bill and Melinda Gates Foundation Trust purchased an astounding 1.7 million shares of Anheuser-Busch InBev, Bud Light’s parent company, last quarter. The total value of this deal stands at a staggering $95 million.
— The Babylon Bee (@TheBabylonBee) September 6, 2023
However, this investment comes at a time when Anheuser-Busch InBev is facing its own financial struggles.
The company reported a significant drop in profits in the second quarter, with U.S. revenue falling by 10.5% and earnings before taxes, interest, and depreciation dropping by 28.2%.
Adding to Bud Light’s woes, the brand lost its position as America’s favorite beer to Modelo, a Mexican import. The brand’s decline has been so dramatic that it became a cautionary tale within the industry.
Companies risking their reputation with controversial decisions are often warned about getting “Bud Light’d.”
The news of Gates’ investment was met with widespread mockery on social media. Users took to Twitter to express their disbelief and humorously speculate on Gates’ motives behind this investment.
Crowd chants “Arrest Bill Gates!” and surrounds his car
“We know who you are you scum!” pic.twitter.com/TxPFqmcHch
— DC_Draino (@DC_Draino) September 6, 2023
Some even drew parallels between Gates’ investment advice and his stance on COVID-19, advising others not to heed his words.
Despite the mockery and criticism, it’s important to remember Gates, with a net worth of $100 billion, can afford to take such risks. His investment in Bud Light may seem like a gamble to many, but for someone of his financial stature, it’s merely another business venture.
Only time will tell if this investment will pay off or add to the list of the brand’s recent misfortunes.