The Daily Wire reported that Anheuser-Busch lost $6 billion in six days after a trans ad campaign partnering with 26-year-old transgender ‘influencer’ Dylan Mulvaney, which top executives never approved.
Must Watch: Did China Save US From Default?
After reaching a three-year high of $66.73 per share, Bud Light parent company Anheuser Busch Inbev lost more than $6 billion in market cap since announcing its partnership with 26-year-old transgender ‘influencer’ Dylan Mulvaney on April 2, as bar owners and distributors report a sharp decline in Bud Light sales over the past week.
The company’s market cap fell as low as $125.7 billion, down from $132.8 billion six days ago, a drop of more than five-percent.
Meanwhile competitor Molson Coors (TAP) saw $350 million added to its market cap over the last week.
Bud Light’s partnership with Mulvaney included custom cans featuring his face and pro-LGBTQ language to commemorate the biological male’s ‘being a woman’ for over a year. The ad campaign kicked off with naked Mulvaney drinking Bud Light in a bathtub.
MUST WATCH: The Truth About COVID-19 Revealed In EU Parliament
Subscribe to GreatGameIndia
And while Anheuser-Busch issued a statement in support of Mulvaney, saying it “works with hundreds of influencers across our brands as one of many ways to authentically connect with audiences across various demographics,” the Daily Wire reports that company executives had no idea about the ad campaign.
MV Satish, the senior executive vice president (buildings) at Larsen & Toubro, has confirmed to Moneycontrol that L&T is building India’s first 3D-printed post office for Rs 23 lakh in Bengaluru.