Gates Foundation Buys Nearly $100 Million , Worth of Anheuser-Busch Shares.
Anheuser-Busch is still reeling from the
fallout of transphobic backlash over
Dylan Mulvaney partnering with Bud Light.
Anheuser-Busch is still reeling from the
fallout of transphobic backlash over
Dylan Mulvaney partnering with Bud Light.
But the Bill and Melinda Gates Foundation is betting that the beer-maker will stage a comeback.
But the Bill and Melinda Gates Foundation is betting that the beer-maker will stage a comeback.
Last quarter, Gates' foundation trust bought
1.7 million shares of Anheuser-Busch which were valued at $95 million, CNN reports. .
Last quarter, Gates' foundation trust bought
1.7 million shares of Anheuser-Busch which were valued at $95 million, CNN reports. .
However, Anheuser-Busch's stock is down about 2% since the purchase, which means the trust is
losing money on its investment currently. .
For the year, the stock has dropped about 7%. .
The beer company's U.S. revenue dropped 10%
in Q2 because of Bud Light sales, CNN reports. .
Sales to American retailers dropped by 14%.
Modelo ultimately surpassed Bud Light
in sales for the first time ever.
Anheuser-Busch announced U.S. corporate layoffs in July that would affect "less than 2%" of employees.
Earlier this year, the Gates foundation trust
also purchased close to $1 billion
in Heineken Holding shares. .
Earlier this year, the Gates foundation trust
also purchased close to $1 billion
in Heineken Holding shares.