(FOX NEWS) — Bud Light parent company Anheuser-Busch InBev’s shares have been battered this year ever since the beleaguered brand’s partnership with transgender activist Dylan Mulvaney, but billionaire investor Bill Gates appears to see the beer’s slump as an opportunity to buy the dip.
The Bill and Melinda Gates Foundation Trust, which manages the funds of the foundation the Microsoft co-founder still runs with his ex-wife, purchased 1.7 million shares of Anheuser-Busch last quarter, according to a regulatory filing. The transaction is valued at $95 million.
The backlash against Bud Light and Anheuser-Busch began in early April, not long after the company created and sent custom beer cans to Mulvaney to mark “365 days of girlhood.”
