Bill Gates acquires Anheuser-Busch’s plummeting shares.

Bill Gates made a bold move by ‍purchasing nearly $100 million⁤ worth of stock in Anheuser-Busch amidst the backlash over the company’s collaboration with transgender influencer Dylan Mulvaney.

The Microsoft founder’s‍ Bill and Melinda Gates Foundation Trust acquired 1.7 million​ shares in the company, valued at approximately $96.5 million, in the second quarter of 2023, according to a⁢ regulatory filing with the Securities ‍and Exchange Commission.

The brewing company’s stock took a hit in​ April when it was revealed that one of its brands, Bud Light, had partnered with Mulvaney. Mulvaney proudly announced the partnership‌ on social media, showcasing a Bud Light can featuring the influencer’s face and even sharing a video of themselves enjoying Bud Light in a bathtub. This collaboration sparked a conservative-led boycott, resulting in Bud ‍Light losing its position as America’s top-selling beer‌ in June. ⁤As a consequence, Anheuser-Busch had to lay off hundreds of employees, and one of its Bud Light distributors expressed doubts about the brand’s sales recovery.

This investment by Gates⁢ is ​not the first time his foundation has made headlines this year.

In June, Gates made a significant announcement of a $50 million gift through his foundation to China’s‌ Tsinghua University, a renowned institution that conducts military research for the Chinese Communist Party and trains students for its nuclear ⁣weapons program. Shortly after the grant was revealed, Gates met with Chinese dictator Xi Jinping, who referred to him as “an old friend.”