in World News Anheuser-Busch InBev Market Value Has Collapsed $15.7 Billion Since Dylan Mulvaney Partnership
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.