Bud light

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.

Although external factors like Bud Light's PR woes played a role, Modelo's rise to the top wasn't merely coincidental. The company had aimed to become the No. 1 beer in America by 2025.

The company posted a 5.6% decline in beer sales in the first half earnings report of 2023.

Anheuser-Busch U.S. CEO Brendan Whitworth announced plans to hear consumers out this summer.