Anheuser-Busch loses $5 billion in value after partnership with Dylan Mulvaney

The parent company of Bud Light, Anheuser-Busch lost almost $5 billion in value after announcing its controversial partnership with transgender activist Dylan Mulvaney. 

Since March 31, Anheuser-Busch is down 4.7 percent and lost about $4.56 billion, according to Dow Jones Market Data Group. On Wednesday alone, the beer company lost more than 1.5%, closing at $63.38 per share compared to $66.73 on March 31. 

The drop in value comes after Anheuser-Busch announced a partnership with social media influencer trans activist Dylan Mulvaney, making her the face of Bud Light earlier this month. As part of their partnership, Bud Light released cans with her face on them as part of the beer company’s March Madness campaign.

"Anheuser-Busch works with hundreds of influencers across our brands as one of many ways to authentically connect with audiences across various demographics. From time to time we produce unique commemorative cans for fans and for brand influencers, like Dylan Mulvaney. This commemorative can was a gift to celebrate a personal milestone and is not for sale to the general public," an Anheuser-Busch spokesperson said about the decision. 

The decision has caused a backlash on social media and prompted many others to boycott Anheuser-Busch. Among those lashing out against the company was musician Kid Rock, who posted a video using Bud Light cases for target practice, and country music singer John Rish, who pulled cases of the beer from his bar in Nashville. 

Mulvaney, who has since received more sponsorship deals, responded to critics on Tuesday, accusing them of bullying her because she was an “easy target.” 

“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?”