Through his philanthropic organisation, the Bill & Melinda Gates Foundation Trust, US business magnate Bill Gates has acquired 1,703,000 shares in AB InBev.
The shares are currently valued at approximately $95 million.
This investment signifies confidence in the global brewer’s ability to overcome its current challenges, as the company has been embroiled in controversy this year.
The Bud Light brand has been subject to backlash in the US since 1 April after it entered a minor partnership with transgender influencer Dylan Mulvaney who promoted the beer brand in a video on social media outlet Instagram, commemorating a college basketball tournament held by the National Collegiate Athletics Association. The sponsorship led to calls for a boycott of Bud Light from conservatives.
This latest investment follows the businessman’s purchase of 10.8 million shares (a 3.8% stake) in global beer giant Heineken in February this year. Gates purchased 6.65 million shares in Heineken Holding individually, while 4.18 million shares were bought through the Foundation, reported to be worth a total of €883 million.
FoodBev approached AB InBev who declined to comment.
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