Get All Access for $5/mo

Bill Gates' Foundation Just Made a Big Bet on Anheuser-Busch and Bud Light, Despite Declining Sales The Bill and Melinda Gates Foundation Trust acquired approximately $95 million of Anheuser-Busch shares during the same period the company reported a dip in revenue for Q2 2023.

By Madeline Garfinkle

Key Takeaways

  • Billionaire Bill Gates acquired $95 million worth of 1.7 million shares last month.
  • The company owns Bud Light, which has faced backlash and declining sales following a partnership with transgender influencer Dylan Mulvaney in April.

Opinions expressed by Entrepreneur contributors are their own.

Last month, Anheuser-Busch reported that its U.S. revenue had declined by 10.5% in the second quarter of 2023, primarily due to the declining sales of Bud Light. Sales to U.S. retailers saw a 14% decrease, underperforming the broader beer industry, with a revenue drop of $395 million in North America compared to the same period the previous year.

However, one notable billionaire, Bill Gates, seems optimistic about the beer brand's future.

In the previous quarter of 2023, the Bill and Melinda Gates Foundation Trust acquired 1.7 million shares of Anheuser-Busch, worth about $95 million, according to an SEC filing.

Related: 'You Need to Stand for Your Values': Heineken CEO Talks Bud Light Beer Sales Decline

Gates made the stock purchase around the time when Anheuser-Busch reported its second-quarter earnings last month and, despite the investment, has incurred losses on the move thus far — the company's stock has declined nearly 2% since his purchase and dropped 7% for the year, CNN reported.

Since Bud Light's collaboration with transgender influencer Dylan Mulvaney last spring, Bud Light has been embroiled in controversy, with some critics slamming the partnership and others slamming the response to the backlash.

Anheuser-Busch CEO Michel Doukeris, however, said on an earnings call in July that the boycotts and controversy have not significantly impacted the company's sales. Doukeris stated that while he didn't want to "minimize" the controversy, the dip in Bud Light's U.S. sales in the first few weeks of April only accounted for 1% of the company's total global revenue during that period.

"With this perspective, and in the context of our global business, we believe we have the experience, the resources and the partners to manage this," Doukeris said at the time.

Related: Kevin O'Leary Slams Anheuser-Busch CEO's Listening Tour, Says It Won't Stop Bud Light Backlash for One Huge Reason

Madeline Garfinkle

News Writer

Madeline Garfinkle is a News Writer at Entrepreneur.com. She is a graduate from Syracuse University, and received an MFA from Columbia University. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Leadership

Visionaries or Vague Promises? Why Companies Fail Without Leaders Who See Beyond the Bottom Line

Visionary leaders turn bold ideas into lasting impact by building resilience, clarity and future-ready teams.

Marketing

5 Critical Mistakes to Avoid When Giving a Presentation

Are you tired of enduring dull presentations? Over the years, I have compiled a list of common presentation mistakes and how to avoid them. Here are my top five tips.

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Science & Technology

5 Automation Strategies Every Small Business Should Follow

It's time we make IT automation work for us: streamline processes, boost efficiency and drive growth with the right tools and strategy.

Business News

Former Steve Jobs Intern Says This Is How He Would Have Approached AI

The former intern is now the CEO of AI and data company DataStax.

Green Entrepreneur®

How Global Business Leaders Can Build a Sustainable Supply Chain

Businesses can build sustainable supply chains by leveraging technology to reduce environmental impact, optimize resources and track emissions while balancing operational efficiency and sustainability goals.