The Gates Foundation purchased 1.7 million shares of the beer maker's parent company, Anheuser-Busch InBev, last quarter.
, the company said the entire beer industry declined in the quarter. Anheuser-Busch said it surveyed 170,000 customers through a third-party research firm and found 80% are favorable or neutral toward the Bud Light brand.
Still, the company's second quarter revenue declined 10.5%, its sales to wholesalers declined 15% and its sales to retailers declined 14%, according to the report. This underperformance is attributed primarily to the decline of Bud Light. On March 31, the day before Mulvaney posted the ad, Anheuser-Busch InBev SA was valued at $66.53, a high for the year.
The stock price dipped as the controversy grew and dropped to $53.40 a share on May 31, a new low. The price has yet to bounce back and is currently $56.20 a share on Sept. 7.The company gained an extremely high profile investor with the Gates Foundation trust,Bill Gates — who is worth an estimated $111.2 billion, — invests in many companies through the trust. The trust's major investments include Walmart; Microsoft, the company Gates co-founded; and Deere & Co.
Earlier this year it was reported that Gates — who has said he's"not a big beer drinker" — bought a 3.76% stake in the beer company Heineken, The trust's 1.7 million shares gives the Gates Foundation about a 0.1% stake in Anheuser-Busch InBev.
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