ST. LOUIS — Billionaire Bill Gates has made a big bet on Anheuser-Busch InBev, even as the Bud Light maker has struggled.
Last quarter, the The Bill and Melinda Gates Foundation Trust acquired 1.7 million shares of A-B InBev, valued at about $96.6 million, according to a regulatory filing.
Editor's note: The above video was published on Aug. 8.
Last month, A-B InBev, reported second-quarter net profit of $339 million, down from $1.6 billion a year earlier, driven by significant sales declines in the U.S. Domestically, its flagship Bud Light brand has come under fire for a polarizing partnership with a transgender social media influencer. U.S. sales fell by 10.5% in the second quarter from a year earlier, with sales to wholesalers down by 15% and sales to retailers declining by 14% for the period, primarily due to the volume decline of Bud Light. In July, the company announced a corporate restructuring in which about 2% of its U.S. workforce will be cut.
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