Anheuser-Busch value plummets by US$5B amid Dylan Mulvaney Bud Light controversy

USA – American brewing company, Anheuser-Busch has seen its value plummet more than US$5 billion since the company announced its branding partnership with controversial transgender social media influencer Dylan Mulvaney.

Since March 31, shares of Bud Light’s parent company have fallen by nearly 4% — knocking down the company’s market capitalization from US$132.38 billion to US$127.13 billion, reports the New York Post.

The company is dealing with the fallout from conservatives over its deal with Mulvaney, the 26-year-old transgender influencer with more than 10 million followers on social media.

The stir was caused on social media when it printed the face of Mulvaney on a commemorative can of its popular Bud Light beer.

Recently, Mulvaney disclosed that Anheuser-Busch had printed her face on Bud Light cans as part of a promotion for their March Madness contest and to commemorate a year of embracing her gender identity, Fox News said.

Firing back, Mulvaney accused the critics of bullying her because she’s an “easy target.”

As a guest on the “Onward with Rosie O’Donnell” podcast, Mulvaney said her trolls intentionally twist her words and actions to blast the transgender community.

“The reason that I think I am so … I’m an easy target is because I’m so new to this,” Mulvaney said.

“I think going after a trans woman that’s been doing this for like 20 years is a lot more difficult. I think maybe they think that there’s some sort of chance with me … But what is their goal?

“These people, they don’t understand me, and anything that I do or say then somehow gets taken out of context and is used against me and it’s so sad because everything I try to put out is positive. It’s trying to connect with others that maybe don’t understand me. It’s to make people laugh or to make a kid feel seen.”

The backlash

Anheuser-Busch’s stock decline coincides with a boycott of the company by country music singer John Rich, who removed cases of Bud Light from his Nashville bar.

Conservative musician Kid Rock also participated in the backlash by using Bud Light cases for target practice in a viral video with Fox News claiming the company is facing widespread criticism on social media, and beer distributors are expressing concerns.

“Anheuser-Busch works with hundreds of influencers across our brands as one of many ways to authentically connect with audiences across various demographics,” said an Anheuser-Busch spokesperson.

“Occasionally, we produce unique commemorative cans for fans and brand influencers, like Dylan Mulvaney. This commemorative can was a gift to celebrate a personal milestone and is not for sale to the public.”

The backlash even prompted a local Missouri distributor to cancel an appearance by the famous Budweiser Clydesdale horses due to fears for the safety of staffers.

Industry experts said that the controversy appears to have to stay in power and could lead to a full-blown boycott of Anheuser-Bush products.

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