Anheuser Busch, Bud Light’s parent company, got more than $4 billion scrapped from its market capitalization in the past week, according to the Dow Jones Market Data Group.
This followed the beer brand’s collaboration with the trans activist Dylan Mulvaney that has provoked a boycott by many conservatives and those on the right wing, including Republican House representative Dan Crenshaw, country music singer John Rich and Kid Rock.
Mulvaney gained prominence in 2022 after interviewing President Joe Biden on LGBTQ-related issues.
Earlier this month, the 26-year-old trans activist revealed that the beer company sent packs of Bud Light with her face printed on the cans as part of an ad for the beer company’s March Madness contest and as a way to celebrate a full year of “girlhood”.
Many conservative consumers appeared not to get the memo as a large-scale boycott followed, impacting sales and rubbing off negatively on the parent company’s market cap.
In a podcast, the brand’s new Vice President, Alissa Heinerscheid, explained that the Mulvaney campaign was informed by the need to “evolve and elevate this iconic brand”.
Heinerscheid noted that “means inclusivity… it means shifting the tone, it’s having a campaign that’s truly inclusive and feels lighter and brighter…”
The result after just a few days has been a $4.562 billion or 5.02 percent decline in Anheuser Busch’s stock price, Fox News reported on Thursday.
Lawyer and anti-woke activist, Rogan O’Handley wrote on Twitter on Monday, “On March 31, Anheuser Busch had a $132.38 billion market cap.
“As of today (Monday), it’s now $128.4 billion
“You know what that means?
“The Woke Bud Light campaign has already shaved off nearly **$4 BILLION** in company value.”
Anheuser-Busch and Bud Light have been silent on the financial implication of the conservative boycott, with the only statement coming from a spokesman which appears to justify Mulvaney’s inclusion.
“Anheuser-Busch works with hundreds of influencers across our brands as one of many ways to authentically connect with audiences across various demographics,” the statement read.
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