Anheuser-Busch InBev’s market value has collapsed by a massive $15.7 billion since Bud Light’s partnership with transgender activist and influencer Dylan Mulvaney was announced.
The shocking figure was determined by Investor’s Business Daily using data from S&P Global Market Intelligence.
“The market value of Anheuser-Busch InBev, whose fourth bestselling brand is Bud Light, dropped $15.7 billion since April 1, based on a conversion to U.S. dollars by Investor’s Business Daily using data from S&P Global Market Intelligence,” Investor’s Business Daily reports. “That’s the day Dylan Mulvaney, a TikTok influencer and transgender woman, pitched the Bud Light brand during the NCAA March Madness tournament.”
The report added, “Meanwhile, the other major publicly traded global beer brands have added $3.2 billion in market value during the same time.”
Jared Dinges, beverage analyst at JPMorgan Chase, said that Bud Light sales are down more than 23% as of the week ended on May 6, according to data from NielsenIQ.
“We believe there is a subset of American consumers who will not drink a Bud Light for the foreseeable future,” Dinges said. “We believe a 12% to 13% volume decline on an annualized basis would be a reasonable assumption.”
Mulvaney, an adult biological male, has become controversial over his “Days of Girlhood” series on TikTok and meeting with President Joe Biden on “Day 222 of being a girl” to advocate for allowing minors to transition.
The activist-influencer said at the time, “I’m ready to step up and show that trans people are not going anywhere and that trans kids deserve a fighting chance to be their true selves.”
After Bud Light provided Mulvaney with a commemorative can to celebrate one year of “girlhood,” conservatives immediately began a boycott — one which is shaping up to be one of the most influential political boycotts of all time.