Beer Colossus Anheuser-Busch saw its value plummet more than $5 billion since the company announced its branding partnership with controversial transgender social media influencer Dylan Mulvaney.
Since March 31, shares of Bud Light’s parent company have fallen by nearly 4% — knocking down the company’s market capitalization from $132.38 billion to $127.13 billion on Wednesday.
Anheuser-Busch stock fizzled more than 1.5% on Wednesday.
The company is dealing with the fallout from conservatives over its deal with Mulvaney, the 26-year-old transgender influencer with more than 10 million followers on social media.
Mulvaney fired back at critics Tuesday, accusing them of bullying her because she’s an “easy target.”As a guest on the “Onward with Rosie O’Donnell” podcast, Mulvaney said her trolls intentionally twist her words and actions in an effort to blast the transgender community.
“The reason that I think I am so … I’m an easy target is because I’m so new to this,” Mulvaney said. “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?”
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“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.”
Mulvaney had posted videos and photos on social media promoting her sponsorship deal with Bud Light, which produced specially made cans with Mulvaney’s likeness to commemorate the partnership.
The Mulvaney endorsement deal prompted Kid Rock to shoot up several cans of Bud Light with an assault rifle.The backlash even prompted a local Missouri distributor to cancel an appearance by the famous Budweiser Clydesdale horses due to fears for the safety of staffers.
Industry experts told The Post on Tuesday that the controversy appears to have to stay in power and could lead to a full-blown boycott of Anheuser-Bush products.
Mulvaney reportedly is pulling down more than $1 million in sponsorship deals with several big-name brands including Nike and Kate Spade.
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