Florida Governor Ron DeSantis has requested a review of the State Board of Administration’s (SBA) holdings with AB InBev (NYSE: BUD), the parent company of Bud Light.
In a letter addressed to Lamar Taylor, the current head of the SBA, DeSantis expressed concerns that AB InBev’s association with “radical social ideologies” may have resulted in a breach of legal duties owed to its shareholders.
The controversy revolves around Bud Light’s partnership with transgender influencer Dylan Mulvaney, which reportedly led to a decline in sales. DeSantis warned that this association could cause “financial harm” not only to the SBA but also to other shareholders.
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DeSantis emphasized the importance of prudently managing funds for Florida’s law enforcement officers, teachers, firefighters, and first responders, focusing on growing returns rather than supporting an ideological agenda through “woke virtue signaling,” as he put it in the letter.
DeSantis, who’s campaigning for GOP nomination in the 2024 presidential election, is trailing farther and farther behind former president Donald Trump. Much of the failures of his campaign are blamed on his far-right leanings, primarily his agenda against LGBTQ rights.
In April, he released a fake ad that attempted to mock Bud Light and the campaign that featured Mulvaney.
And then on June 30, the last day of Pride Month, DeSantis released a bizarre homophobic ad that showed a mashup of clips, headlines, and statement made by Trump in support of the LGBTQ community juxtaposed with a mashup of DeSantis doing his best to make himself look tough while attacking LGBTQ rights.
The Log Cabin Republicans, which touts itself as the largest Republican organization dedicated to representing LGBT conservatives and allies, denounced the video. They described DeSantis as “divisive and desperate,” and said that he alienates swing-state and younger voters.
Information for this story was found via CNN, Newsweek, Twitter, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
