Anheuser-Busch, the world's largest brewer and maker of Bud Light beer, has seen its stock drop by more than $5 billion since it announced a partnership with transgender influencer and activist Dylan Mulvaney. The announcement sparked a boycott of Bud Light by some customers who felt that the company was taking sides in a political issue.
The controversy began when Mulvaney shared a sponsored post promoting Bud Light on social media. In response, some Anheuser-Busch customers called for a boycott of the brand, citing their disagreement with the company's decision to partner with Mulvaney. The boycott quickly gained traction, prompting Kid Rock to shoot cases of Bud Light in protest.
The financial impact of the controversy has been significant for Anheuser-Busch. According to data from Bloomberg, the company's value dropped by more than $5 billion since it announced its partnership with Mulvaney. This is despite the fact that sales of Bud Light have remained steady over this period.
Industry experts are divided on what this means for Anheuser-Busch going forward. Some believe that the company will be able to weather this storm and come out stronger in the long run, while others think that it could have lasting implications for their reputation and future business prospects.
"It remains to be seen how consumers will respond to Anheuser-Busch's decision," said one analyst who wished to remain anonymous. "But there is no doubt that this controversy has had an impact on their bottom line."