Florida Gov. Ron DeSantis is hinting at legal action against Bud Light's parent company, Anheuser-Busch InBev, for the beer brand's promotion earlier this year with TikTok star Dylan Mulvaney.
and wholesalers affected by the slump in Bud Light sales since Mulvaney's social media video went viral. Whitworth added that ABI plans to triple its investment in Bud Light this year as the company launches its upcoming summer campaign and prepares for the NFL season. 28% for the week ending June 24, compared with the same period last year, according to beverage industry research firm Bump Williams Consulting.
AB InBev's stock price has fallen 14% since the Mulvaney promotion in late March, with the company losing $16 billion in market value over period. Florida's pension fund contained more than 682,000 shares of AB InBev at the end of March, valued at the time at nearly $46 million, CNN
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