Numbers Show Bud Light Parent Company Has Lost Significant Market Value Since Trans Influencer Controversy
Beer giant Anheuser-Busch, the company that owns Bud Light, has lost billions of dollars in market value after partnering with a controversial transgender influencer that sparked public relations uproar.
According to the New York Post, Anheuser-Busch’s market value plummeted by over $5 billion, and the company’s stock prices fell by nearly 4%. At one point, the company’s value dropped by more than $6 billion but has since slightly recovered, with stock prices up almost 1.5% on Thursday.
The company faced severe backlash from prominent conservative figures, such as Kid Rock, Matt Walsh, John Rich, Travis Tritt, and Tucker Carlson, among others.
Joe Rogan, a renowned figure on the political right, dismissed the outrage directed at the company during an episode of his podcast “The Joe Rogan Experience” this week while having a Bud Light.
Rogan pointed out that the partnership will attract more people to try the brand, and he does not understand the controversy surrounding the deal. He also expressed his appreciation for the backlash, including Kid Rock destroying Bud Light cans.
Rogan also added that he found it amusing that people were excessively outraged about the matter.
This controversy highlights the increasing power of cancel culture and social media in pressuring companies to rethink their partnerships with celebrities and influencers.
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