The Bill and Melinda Gates Foundation Trust has bought 1.7 million shares of Anheuser-Busch, valued at around $100 million, according to a regulatory filing.
Gates thinks the embattled beer company can make a comeback after the Dylan Mulvaney debacle.
However, the Microsoft co-founder has so far lost money as the company continues to sink.
Anheuser-Busch’s stock is down nearly 2% since Gates made his purchase, costing the billionaire a $2M loss.
The stock is down about 7% for the year.
Last month, Anheuser-Busch said that its U.S. revenue fell 10% in the second quarter, mostly due to falling Bud Light sales.
Just a reminder: NOBODY IS DRINKING BUD LIGHT THIS SUMMER pic.twitter.com/gun1dUJxpW
— Chad Prather (@WatchChad) July 29, 2023
Gates’s investment comes after an heir to the Anheuser-Busch company said his ancestors would have “rolled in their graves” if they knew the beer company had thrown it all away over a marketing stunt with a transgender influencer.
As Slay News reported, Billy Busch, the grandson of Anheuser-Busch founder Adolphus Busch, said: “I think my family, my ancestors, would be rolling over in their grave.
“They were very patriotic.
“They loved this country and what it stood for.
“They believed that transgender, gays, that sort of thing, was all a very personal issue.
“They loved this country because it is a free country and people are allowed to do what they want.
“But it was never meant to be on a beer can and never meant to be pushed into people’s faces.
“You know, I think people who drink beer, I think they’re your common folk.
“I think they are the blue-collar worker who goes and works hard every single day.
“The last thing they want to be drinking is a beer can with that kind of message on it.
“I just don’t think that’s what they’re looking for.
“They want their beer to be truly American, truly patriotic, as it always has been.
“Truly, America’s beer, which Bud Light was and probably isn’t any longer.”
— New York Post (@nypost) August 7, 2023