Hey folks! So, get this: the world’s biggest brewer, AB InBev, is planning to give back a whopping $1 billion to its investors. How, you ask? Well, they’re going to do their first-ever share buyback. Talk about making a statement! And why are they doing this, you wonder? It’s all because of the Bud Light fiasco. Yeah, you remember that, right? AB InBev’s revenues in the US took a nosedive by a staggering 13.5% in the third quarter. Ouch! And you know what caused it? A little thing called the Bud Light social media campaign. Let me break it down for you. They sent a personalised can to this influencer named Dylan Mulvaney, who happens to be transgender. Now, you’d think that would be a cool thing, right? But oh boy, did it backfire! Mulvaney made a post about the can, and it sparked a massive boycott. Sales went down the drain, my friends. But hey, it’s not all doom and gloom. Just last week, Bud Light got a sweet gig as the official beer of UFC, the mixed-martial arts league. So, they’re bouncing back, baby! AB InBev is determined to turn things around, and this buyback is just the beginning. Stay tuned for more updates!
AB InBev’s $1bn Buyback: A Bold Move After Bud Light Controversy
