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Anheuser-Busch down $5B in value amid Dylan Mulvaney Bud Light controversy




Business

April 12, 2023 | 14:27


Beer giant Anheuser-Busch saw its value plummet by more than $5 billion since the company announced its brand partnership with controversial transgender social media influencer Dylan Mulvaney.

Since March 31[ads1], shares of Bud Light’s parent company have fallen nearly 4% — knocking the company’s market value from $132.38 billion to $127.13 billion on Wednesday.

Anheuser-Busch shares fell more than 1.5% on Wednesday.

The company is dealing with the fallout from conservatives over the deal with Mulvaney, the 26-year-old transgender influencer with more than 10 million social media followers.

Mulvaney fired back at critics on Tuesday, accusing them of bullying her because she is an “easy target.”

As a guest on the “Onward with Rosie O’Donnell” podcast, Mulvaney said her trolls are intentionally twisting her words and actions in an attempt to blast the transgender community.

“The reason I think I’m so … I’m an easy target is because I’m so new to this,” Mulvaney said. “I think it’s a lot harder to go after a trans woman who’s been doing this for 20 years. I think maybe they think there’s some kind of chance with me… But what’s their goal?”

Anheuser-Busch shares have fallen nearly 4% since March 31.

“These people, they don’t understand me and everything I do or say is somehow taken out of context and used against me and it’s so sad because everything I try to say is positive. It tries to connect with others who may not understand me. It’s to make people laugh or to make a child feel seen.”

Mulvaney had posted videos and photos on social media to promote her sponsorship deal with Bud Light, which produced custom cans bearing Mulvaney’s likeness to commemorate the partnership.

The Mulvaney endorsement deal prompted Kid Rock to shoot down several cans of Bud Light with an assault rifle.

Anheuser-Busch’s market value has fallen by more than $5 billion since signing Dylan Mulvaney to a deal promoting the Bud Light brand.
Instagram
Bud Light produced specially designed cans bearing Mulvaney’s likeness to commemorate the partnership.
Dylan Mulvaney/Instagram

The backlash even prompted a local Missouri distributor to cancel an appearance by the famous Budweiser Clydesdale horses due to fears for the safety of employees.

Industry experts told The Post on Tuesday that the controversy appears to have staying power and could lead to a full boycott of Anheuser-Bush products.

Mulvaney is reportedly pulling down more than $1 million in sponsorship deals with several major brands, including Nike and Kate Spade.

Bud Light is one of many brand names produced by St. Louis-based Anheuser-Busch.
Reuters

Megyn Kelly lashed out at ‘non-breasted’ Mulvaney’s Nike deal.

“Nike is now sponsoring Dylan Mulvaney for the af-king sports bra,” Kelly said during Tuesday’s edition of “The Megyn Kelly Show” on SiriusXM.

“Sorry, Dylan doesn’t have breasts.”

Mulvaney’s sponsorship deal had Kid Rock shooting cans of Bud Light.
twitter/@KidRock

“Dylan has taken some kind of hormone that has turned Dylan into something … I don’t know what’s going on there, but it’s not breasts.”

“And Dylan doesn’t need any kind of bra — never mind a sports bra,” according to Kelly.

Both Bud Light and Nike have pushed back against the criticism and stood by Mulvaney.





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