A partnership with a transgender influencer to promote Bud Light beer has cost brewing giant Anheuser-Busch an estimated US$5 billion (C$6.7 billion).
Since late March, the Budweiser-branded company’s stock has fallen more than 4%, sending more than $5 billion in market capitalization skyrocketing, the report reported. New York Post Wednesday.
This stampede follows a partnership with Dylan Mulvaney, a transgender who documents with his 1.8 million subscribers on Instagram and 10.8 million subscribers on TikTok his gender change for a year.
In a video uploaded on 1is April, Mulvaney promotes a Budweiser contest and explains that he received cans of Bud Light bearing his image to celebrate the first anniversary of his transition.
The partnership has been criticized by several conservative figures. The Kid Rock singer notably reacted by posting a video where he can be seen opening fire with an assault rifle on cans of Bud Light, before launching a “f*ck Bud Light” accompanied by a finger of honor to the camera.