Gates bought the stock around the time A-B reported earnings that fully encompassed the fallout from Bud Light’s partnership with transgender influencer Dylan Mulvaney.
Last month, A-B said that its US revenue fell 10% in the second quarter, hampered by falling Bud Light sales.
A few weeks later, Modelo overtook Bud Light in sales at grocery and beer stores, according to NIQ data, marking the first time Modelo has ever beaten Bud Light on a year-to-date basis.
However, the difference is slim with Modelo holding 8.34% share of dollars spent on beer vs. 8.28% for Bud Light through August 12.
Gates, who has previously admitted that he’s “not a big beer drinker,” has bought other beer brands too.
Persons:
Bud Light’s, Bill Gates, Melinda Gates, Gates, influencer Dylan Mulvaney, Bud, Bud Light, he’s, ”
Organizations:
New, New York CNN, Anheuser, Busch, Melinda Gates Foundation Trust, Revenue, Modelo, Bud Light, Heineken Holding
Locations:
New York, North America, Canada, United States