TO THE RESCUE

Bill Gates Puts $100M Behind Bud Light After Transphobic Backlash

While the company’s share value dropped 9 percent in six months, it has slightly risen since Bill Gates’ foundation trust invested.

For a popular beer brand, Bud Light has had a trying year. In April, it was the subject of widespread protest following its partnering with transgender influencer Dylan Mulvaney. The transphobic backlash set Bud Light back $400 million in sales, causing its parent company, Anheuser-Busch InBev, to lay off hundreds of employees. A couple of weeks later, industry data showed that competitor Modelo surpassed Bud Light for the first time. But according to records recently released by the Securities and Exchange Commission, the company has found a rich savior: Microsoft co-founder Bill Gates. The Bill & Melinda Gates Foundation Trust purchased 1.7 million shares in AB InBev last quarter at an estimated total value of $96.6 million. While the company’s share value dropped 9 percent in six months, it has slightly risen since the foundation trust invested. Earlier this year, Gates also put $902 million in Heineken, the second-largest brewer behind AB InBev.