Bud Light's parent company drops $6bn in market cap after Dylan Mulvaney backlash

13 April 2023, 09:35 | Updated: 13 April 2023, 09:42

Dylan Mulvaney
Dylan Mulvaney was made a spokesperson of Bud Light and led to a backlash from conservatives which wiped $6bn off Aheuser-Busch's market cap. Picture: Instagram

By Chay Quinn

The parent company of beer brand Bud Light has lost $6bn in market cap - after backlash from conservatives over the use of a transgender influencer in ads.

The popular American beer brand used 26-year-old Dylan Mulvaney in a series of TikTok ads - with a series of commemorative cans produced for the partnership featuring Mulvaney's face.

The move prompted backlash from right-wing activists who created a social media campaign to boycott the beer.

Share prices for parent company Anheuser-Busch have dropped significantly as a result of the campaign - with the price dropping 4% since March 31 and knocking the market cap from $132bn to $127bn.

Read More: Daniel Radcliffe tells trans children that adults should trust youngsters to tell them what their gender is

Read More: Trans paedophile who served in Scottish women's prison praised Nicola Sturgeon's transgender reforms

Mulvaney used an appearance on a podcast with Rosie O'Donnell to claim she is intentionally misrepresented by her critics because of transphobia.

The influencer said: “The reason that I think I am so … I’m an easy target is because I’m so new to this.

“I think going after a trans woman that’s been doing this for like 20 years is a lot more difficult. I think maybe they think that there’s some sort of chance with me … But what is their goal?

“These people, they don’t understand me and anything that I do or say then somehow gets taken out of context and is used against me and it’s so sad because everything I try to put out is positive. It’s trying to connect with others that maybe don’t understand me. It’s to make people laugh or to make a kid feel seen.”

More Latest News

See more More Latest News

Mohamed Mansour has been awarded a knighthood

Conservatives accused of 'cronyism' after donor who gave £5 million given knighthood in surprise honours list

Exclusive
Justin Welby recalled his experience of coping with his father's drinking as a teenager.

‘It was utterly isolating’: Archbishop of Canterbury recalls harrowing experience of growing up with his alcoholic father

More than 2 million drivers are set to hit the road on Good Friday.

Easter Carmageddon: Over two million drivers to hit the road on Good Friday after Storm Nelson travel chaos

Michael Gove has slammed the water firm as a 'disgrace'.

Thames Water bosses branded a ‘disgrace’ as Michael Gove tells firm ‘not to punish consumers’ for its failings

South Africa Bus Crash

Girl, 8, the sole survivor as 45 die in bus crash off South Africa bridge

A spokesman has denied reports the sausage dog could be banned.

The wurst news is over: Germany denies claims of sausage dog ban

Israel Palestinians Britain Aid

UN top court orders Israel to open more land crossings into Gaza

Greece Confidence Vote

Greece’s government survives no-confidence motion called over rail disaster

A council has had to apologise following the incident.

Fury as parents offered version of school class photo without complex needs pupils

Conjoined twin who shot to fame with sister on The Oprah Winfrey Show marries army veteran in private ceremony

Conjoined twin who shot to fame with sister on The Oprah Winfrey Show marries army veteran in private ceremony

Israel Palestinians UN Security Council

Russia ‘abolishes’ monitoring of sanctions on North Korea with UN veto

Firefighters at the scene of a bus crash in Limpopo

Bus falls from bridge in South Africa and erupts into flames, killing at least 45 and leaving child, 8, as lone survivor

Music-Green Day UN

Green Day to headline UN-backed global climate concert

Exclusive
Starmer has vowed to resurrect Boris Johnson's 'Levelling Up' policy

Failure to ‘level up’ Britain would be ‘catastrophic’, Wes Streeting admits, as Starmer vows to resurrect Johnson policy

Border Force staff will walk out from April 11

Hundreds of Border Force officers at Heathrow Airport to stage four-day strike

Stephen Bear was ordered to pay Ms Harrison £5,000.

Disgraced reality TV star Stephen Bear ordered to pay £27,000 over revenge porn conviction or face nine months in jail