Florida Governor Ron DeSantis is calling on the state's pension fund manager to explore potential legal action against Anheuser-Busch (AB InBev), the parent company of Bud Light.

This move comes in response to the conservative backlash against Bud Light's recent marketing efforts, which included a minor partnership with transgender influencer Dylan Mulvaney.

The association with Mulvaney led to a boycott by conservatives, and Bud Light's sales reportedly declined.

In a letter addressed to Lamar Taylor, the interim director of the State Board of Administration, Ron DeSantis suggests that AB InBev may have breached its legal duties to shareholders by aligning itself with what he describes as "radical social ideologies," according to CNN.

He expresses concern about the financial impact of the company's recent decisions and emphasizes the need to prudently manage Florida's pension funds, ensuring they focus on maximizing returns rather than endorsing any perceived ideological agenda.

The governor's letter indicates that he and other state officials overseeing the board will consider all options in reviewing the impact of AB InBev's financial downturn.

However, it remains uncertain what specific legal recourse the state may have in challenging the business decisions of a multinational corporation like AB InBev.

Governor Ron DeSantis oversees the State Board of Administration as a trustee, along with Florida's state Attorney General and Chief Financial Officer, who are also Republicans.

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AB InBev Speaks Out Following Florida Governor Ron DeSantis' Statement

A spokesperson for Anheuser-Busch (AB InBev) has responded to the situation, emphasizing the company's commitment to its shareholders, employees, distributors, and customers.

They stated that AB InBev takes its responsibilities seriously and is focused on driving long-term, sustainable growth through business optimization and providing consumers with products for various occasions, CBS News noted.

Brendan Whitworth, the CEO of Anheuser-Busch, said that the company is providing financial assistance to distributors and wholesalers impacted by the decline in Bud Light sales since Dylan Mulvaney's social media video went viral.

Whitworth also revealed that AB InBev has plans to triple its investment in Bud Light this year, with upcoming summer campaigns and preparations for the NFL season.

The controversy surrounding Mulvaney's promotion had a notable impact on Bud Light sales, with a 28% drop reported for the week ending June 24, compared to the same period last year. This decline represents a revenue decrease of approximately $26 million for Anheuser-Busch.

Consequently, AB InBev's stock price has fallen by 14% since the Mulvaney promotion in late March, resulting in a loss of $16 billion in market value.

At the end of March, Florida's pension fund held over 682,000 shares of AB InBev, valued at nearly $46 million.

Florida Governor Ron DeSantis and 'Woke' Corporations

Governor Ron DeSantis' efforts to combat what he calls "woke" corporations have faced challenges, with his ongoing legal battle with Disney being cited as an example.

The dispute with Disney arose after the company's CEO opposed anti-LGBTQ legislation in Florida, per Rolling Stone.

The fallout from this legal battle has provided ammunition for DeSantis' opponents, who criticize him as anti-business.

Given the complexities and difficulties faced in the Disney case, some observers suggest that if the governor takes on Anheuser-Busch similarly, it could lead to another contentious and unproductive situation that may generate more problems than benefits.

 As DeSantis' poll numbers decline and his 2024 presidential campaign struggles to find its footing, some speculate that he may be seeking attention through these confrontations.

READ MORE: Gavin Newsom Calls Ron DeSantis a 'Small, Pathetic Man' 

This article is owned by Latin Post.

Written by: Rick Martin

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