Billionaire Bill Gates made a significant purchase of Anheuser-Busch stock in the second quarter of the year, according to TipRanks, a financial data firm.
The acquisition was reportedly worth approximately $95 million and included 1.7 million shares held by the Bill & Melinda Gates Foundation Trust which is estimated to hold assets valued at nearly $69 billion.
This move came after Anheuser-Busch experienced losses resulting from Bud Light’s transgender controversy.
In April, Anheuser-Busch encountered difficulties when transgender TikTok influencer Dylan Mulvaney announced a partnership with Bud Light for a marketing campaign.
This sparked criticism from conservative circles and calls to boycott all of the company’s beers. Since then, its stock has dropped by 10%, which translates into around $9 billion in lost valuation.
While some analysts remain optimistic about the brand’s prospects of recovery, others are less certain.
Meanwhile, Bud Light has been criticized by Mulvaney for not standing up to their detractors and relinquished its position as America’s top selling beer to Modelo Especial while rival brews like Coors Light, Yuengling Lager, and Miller Lite have gained market share.
Bill Gates became a billionaire after founding the hugely successful software company Microsoft. It is estimated that his current net worth is over $110 billion.
His recent purchase of Anheuser-Busch stock signals an expectation of recovery for the company and an increase in its value.
However, some on the right have expressed concern about other investments he has made, such as ownership of 242,000 acres of farmland – which constitutes less than 1 percent of all farmland in the U.S., estimated at 897,400,000 acres.