Bud Light is embroiled in a major controversy after going woke.
But now company executives have another huge problem on their hands.
And that’s because Ron DeSantis made one power move that sent Anheuser-Busch into panic mode.
Bud Light is getting hammered from a conservative-led boycott against the brand after a partnership with transgender influencer Dylan Mulvaney.
The embattled beer company now has another major disaster to deal with.
Florida Governor Ron DeSantis is putting his sights on Anheuser-Busch, Bud Light’s parent company.
He instructed the state to launch an inquiry into the company for the damage its woke stunt did to its shareholders of stock.
DeSantis ordered the State Board of Administration (SBA) to “initiate a review” into its holdings with Anheuser-Busch.
The SBA oversees the state’s public pension and retirement plans.
The Florida Governor sent a letter to SBA Interim Executive Director Lamar Taylor noting the massive decline in sales of Bud Light since the woke controversy broke out.
“As sales of AB InBev [Anheuser-Busch) products within the U.S. continue to precipitously decline, reports are now emerging that large American mainstays like Costco will be pulling Bud Light from the shelves,” DeSantis wrote. “Clearly, the Board’s mismanagement — as well as its failure to remediate the problem and repair its relationship with millions of disaffected American consumers — has led to this impasse and will continue to financially harm the SBA and other shareholders.”
DeSantis said it was important that the SBA be dedicated to its mission of pursuing the best possible investment returns for retirees like police officers and firefighters instead of “subsidizing an ideological agenda through woke virtue signaling.”
He asked the SBA to review how Bud Light’s partnership with Mulvaney was impacting the value of Anheuser-Busch’s stock.
“It appears to me that AB InBev may have breached legal duties owed to its shareholders, and that a shareholder action may be both appropriate and necessary,” DeSantis explained. “To protect SBA and the retirees of Florida from losses attributable to AB InBev’s disregard of those duties, all options are on the table.”
DeSantis has vowed that “Florida is where woke goes to die,” and now he’s going after the poster child for woke corporations.
Florida’s public pensions, along with ordinary Americans who hold Anheuser-Busch stock, have watched their investment tank over the company going woke.
DeSantis told Fox News host Jesse Watters that Florida has roughly $50 million invested in the company, and its plummeting stock is hurting the state’s retirees.
“We believe that when you take your eye off the ball like that, you’re not following your fiduciary duty to do the best you can for your shareholders,” DeSantis said.
He said the investigation could lead to a lawsuit against Anheuser-Busch, as there must be penalties for companies that put woke politics over hard-working Americans.
Bud Light is being crushed by plunging sales after its woke controversy.
Patriot Political will keep you up-to-date on any developments to this ongoing story.