“Florida Governor Ron DeSantis Threatens Legal Action Against Bud Light’s Parent Company Amidst Conservative Backlash”
In the ongoing conservative backlash against Bud Light, Florida Governor Ron DeSantis, known for his “anti-woke” stance, expressed his openness to pursue legal action against the company’s parent organization.
The controversy stems from Bud Light’s association with a transgender social media influencer, Dylan Mulvaney, in their marketing campaign, leading to a drop in sales following a boycott initiated by musician Kid Rock and others.
DeSantis, appearing on Fox News’s Jesse Watters Primetime, revealed that he had written a letter, also obtained by CNN, accusing AB InBev of breaching its legal duties to shareholders by aligning with “radical social ideologies.”
The Florida pension fund, in which DeSantis and other Republican officials serve as trustees, reportedly held $46 million worth of AB InBev shares in March, witnessing a decline in value since the partnership.
DeSantis argues that this loss might warrant legal action, aiming to protect the interests of Florida’s public workers’ retirement funds.
“We must prioritize growing returns for the hardworking law enforcement officers, teachers, firefighters, and first responders in Florida, rather than subsidizing ideological agendas through virtue signaling,” DeSantis emphasized in his letter.
During the interview with Watters, the governor reiterated his concerns, stating that taking the focus away from the company’s core business and shareholders may breach their fiduciary duty.
He announced an impending inquiry into Bud Light and InBev, which could potentially lead to a derivative lawsuit on behalf of Florida pension fund shareholders, emphasizing the need for accountability when prioritizing social agendas over workers’ interests.
The Republican Party has shown collective interest in the Bud Light controversy, with Senator Ted Cruz demanding an investigation by the Beer Institute, claiming that the partnership with Mulvaney also requires scrutiny from Congress. DeSantis’ latest move adds to the growing political attention on this issue.