But there’s at least one prominent investor who believes in Anheuser-Busch: Bill Gates’ foundation trust. Gates’ foundation trust bought the stock around the time A-B reported earnings that fully encompassed the fallout from Bud Light’s partnership with transgender influencer Dylan Mulvaney. But Gates’ trust has lost money on his investment so far: A-B’s stock is down nearly 2% since the purchase. Last month, A-B said that its US revenue fell 10% in the second quarter, hampered by falling Bud Light sales. A few weeks later, Modelo overtook Bud Light in sales at grocery and beer stores, according to NIQ data, marking the first time Modelo has ever beaten Bud Light on a year-to-date basis.

Source: CNN September 07, 2023 06:22 UTC