Donald Trump has given his perspective on the controversy surrounding his social network, Truth Social, following the involvement of a popular transgender influencer in a Bud Light promotional video. He has suggested that Anheuser-Busch, the American branch of AB InBev, is not aligned with “woke” culture and may deserve a second chance. Following this statement, the share price of the company saw a significant increase.
The Bud Light campaign in spring 2023, featuring transgender influencer Dylan Mulvaney, has caused dissatisfaction within conservative circles in America. This backlash led to a potential boycott of the beer, resulting in a sharp decrease in AB InBev’s revenue and volumes in the United States.
Donald Trump described the Bud Light advertisement as a significant mistake that came at a high cost. He asserted that Anheuser-Busch is not a “woke” company and claimed to have a list of companies that are. He hinted at the possibility of making this list public.
Trump highlighted that Anheuser-Busch contributes $700 million annually to US farmers and provides 65,000 jobs for Americans, including 1,500 veterans. He then posed a question, inquiring whether Anheuser-Busch, a significant American brand, may deserve a second chance, suggesting that the focus should instead be on companies aiming to ‘destroy America’.
Share Price Increase
According to Politico, Trump’s message offers a reconciliation to the company and signifies a substantial attempt to de-escalate a long-standing feud. The timing of Trump’s statement coincides with news that a Republican lobbyist and former employee of the brewer, Jeff Miller, is organizing a fundraiser for Trump. Trump is reportedly on the list of attendees.
AB InBev shares have already benefited from these developments. The shares saw a more than 4 percent increase in Brussels, making it the strongest riser in the star index. Additionally, Bloomberg news agency reported a significant increase in the trading volume of these shares.