DeSantis Calls For Investigation Into Bud Light's Stock Losses Following 'Woke' Campaign

Sarah Merly | July 21, 2023
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As part of his effort to eradicate environmental, social, and corporate governance - better known as "ESG" - policies in Florida, Republican Governor Ron DeSantis has announced an investigation into Anheuser-Busch InBev (AB InBev) over stock losses he says the state has taken thanks to Bud Light's "woke" agenda. 

[See video here]

“We’ve kneecapped ESG in Florida,” DeSantis tweeted Friday. “So I’m calling for an investigation into AB InBev’s actions regarding their Bud Light marketing campaign and falling stock prices. All options are on the table and woke corporations that put ideology ahead of returns should be on notice.”

The investigation request follows on the heels of Bud Light’s partnership with transgender activist Dylan Mulvaney. A few months ago, Mulvaney posted a video of himself–decked out in a dress reminiscent of Breakfast at Tiffany’s–drinking beer from a can with his face on it. Since then, Bud Light sales have plummeted drastically.

“According to the governor, Florida has $50 million invested in Bud Light stock,” reporter Lisa Bell of WKMG News 6 explained. “Most of the state’s investments – 79% – are meant to raise money for the state pension fund to pay retirement benefits for civil servants like teachers, police officers, and firefighters.”

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DeSantis’ announcement captioned two images of his letter to Lamar Taylor, who serves as the interim executive director of the State Board of Administration. The governor highlighted financial stewardship as his top priority.

“Our legal commitments and obligations, however, remain perfectly clear,” the governor wrote. “[W]e must prudently manage the funds of Florida’s hardworking law enforcement officers, teachers, firefighters, and first responders in a manner that focuses on growing returns, not subsidizing an ideological agenda through woke virtue signaling.”

“I therefore request that you immediately initiate a review to examine how AB InBev’s conduct has impacted and continues to impact the value of SBA’s AB InBev holdings,” DeSantis continued. “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. To protest SBA and the retirees of Florida from losses attributable to AB InBev’s disregard of those duties, all options are on the table.”

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