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Anheuser-Busch Loses $3 Billion In Market Value As Backlash Grows Over Dylan Mulvaney's Bud Light Partnership

anheuser busch loses  billion market value after dylan mulvaney controversy pp
Source: ZUMAPRESS.com / MEGA; RICHARD B. LEVINE/Newscom/The Mega Agency

Apr. 12 2023, Published 3:30 p.m. ET

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Bud Light's parent company that was worth $132 billion is taking a financial hit amid controversy over the beer brand's partnership with transgender TikTok star Dylan Mulvaney.

RadarOnline.com has learned that Anheuser-Busch's share price has dropped to $64.96 in the past five days, depleting $3 billion total from the company's market cap in the wake of Mulvaney's partnership which was announced on April 1.

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anheuser busch loses  billion market value after dylan mulvaney controversy
Source: MEGA

Kid Rock boycotted the brand in a gun-toting video showing him shooting up cases of Bud Light propped up on a table while sending a "clear and concise" message to BL and Anheuser-Busch.

Country star Travis Tritt joined the critics in expressing his outrage in a series of tweets, revealing that he would be removing all related products from his hospitality tour rider.

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anheuser busch loses  billion market value after dylan mulvaney controversy
Source: @KidRock/Twitter
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Representative Marjorie Taylor Greene spoke out against the partnership in her own Twitter post, having since been dragged by people who pointed out she switched to another LGBTQ-friendly beer.

"I would have bought the king of beers, but it changed its gender to the queen of beers. So it's made to chill from here on out," she wrote next to a photo of a Coors Light case.

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Anheuser-Busch previously issued a statement amid the initial outcry, which said they work "with hundreds of influencers across our brands as one of many ways to authentically connect with audiences across various demographics and passion points."

"From time to time, we produce unique commemorative cans for fans and for brand influencers, like Dylan Mulvaney," they added.

Bud Light's vice president of marketing said she had a clear job to do when she took over the iconic beer brand, revealing it's been in decline for quite some time.

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anheuser busch loses  billion market value after dylan mulvaney controversy
Source: @dylanmulvaney/Instagram
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"And if we do not attract young drinkers to come and drink this brand, there will be no future for Bud Light," Alissa Heinerscheid said on March 30, adding how they wanted to evolve and elevate.

"It means inclusivity. It means shifting the tone. It means having a campaign that's truly inclusive and feels lighter and brighter and different," she continued. "And appeals to women and to men."

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Mulvaney briefly addressed the backlash she faces on Rosie O'Donnell's podcast, saying she is trying to keep her head held high while documenting her own journey.

"The reason I think I'm an easy target is because I'm still new to this," she shared. "I think going after a trans woman that's been doing this for 20 years is a lot more difficult. But what is their goal?"

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