Anheuser-Busch’s stock price rises due to support for President Trump

Bud Light’s stock price soared after former President Donald Trump implored conservatives to give Bud Light’s parent company, Anheuser-Busch InBev, a “second chance.”

Conservatives have been criticizing the company since nearly a year ago, when transgender influencer Dylan Mulvaney promoted Bud Light in an Instagram post amid an ongoing conservative culture war movement against transgender rights. They continue to boycott and criticize.

In a post on Truth Social on Tuesday, President Trump said Mulvaney’s ad was a “serious mistake” and implored supporters to give the beer brand another chance because “Anheuser-Busch is not a wake-up company.” did.

Records show the former president owns up to $5 million in Anheuser-Busch InBev stock, which he did not mention earlier this week when he touted the virtues of the “great American brand.”

The company’s stock price soared almost immediately after Trump’s endorsement and was up about 3% by the end of Tuesday. The price has continued to rise since then, reaching a high of $65.94 per share on Wednesday, not far from the stock’s 2023 all-time high of $67.09.

newsweek President Trump’s office was contacted for comment via email Friday night.

After the Republican uproar over Mulvaney’s ad erupted in April, President Trump was conspicuously absent from conservative voices calling for a boycott of Bud Light.

The former president has other ties to Anheuser-Busch InBev. Next month, he plans to participate in a fundraiser hosted by Republican lobbyist Jeff Miller, whose company reportedly raised $260,000 last year.

President Trump’s attempts to rebuild the Bud Light brand amid simmering conservative anger haven’t resonated with all his supporters.

In response, anti-transgender activist Matt Walsh said there was “no strategic reason” for Trump to abandon an “effective boycott” of companies he claims are trying to “promote transgenderism.” denounced.

Meanwhile, transgender Trump supporter and former Olympian Caitlyn Jenner praised the former president for promoting what she said was an “incredible American company.”

President Trump promotes Anheuser-Busch in Truth social posts while also saying he is “creating a list” of alternative “woke” companies he claims are working to “destroy America.” and threatened to release the list to the world. . ”

The former president isn’t the only person in the MAGA world defending Bud Light. His son, Donald Trump Jr., specifically defended Anheuser-Busch InBev shortly after the Bud Light boycott began last year.

After Trump Jr. praised the company for donating to Republican candidates and suggested Mulvaney’s ad was a “one-time fiasco,” he received backlash from MAGA supporters who called him a “RINO” ( He accused him of being a “Republican in name only.” “) for not supporting the boycott.

Anheuser-Busch InBev’s stock fell slightly on Friday, but was still about $2 a share higher than before the former president’s endorsement. At the time of publication, the stock was up slightly again in after-hours trading.