Could a beer giant’s disastrous partnership with a transgender influencer serve as a wake-up call for corporate America? The fallout from Bud Light’s collaboration with Dylan Mulvaney continues to cost the company millions while exposing the dangers of abandoning core customers for social activism.
At a glance:
• Former Anheuser-Busch executive Anson Frericks blames DEI policies and the Dylan Mulvaney partnership for Bud Light’s dramatic downfall
• Bud Light lost nearly 30% of sales and its position as America’s top beer after the controversial partnership
• Kid Rock and other public figures publicly criticized the brand, with many consumers launching a successful boycott
• Frericks believes the European ownership led to a disconnect with American values
• The former executive suggests Bud Light needs an apology and possible American ownership to recover
Corporate Values Sacrificed For Woke Agenda
Former Anheuser-Busch executive Anson Frericks has finally spoken out about the catastrophic decision that cost Bud Light its crown as America’s favorite beer. The veteran beverage executive, who spent over a decade with the company, pointed directly to the brand’s 2023 partnership with transgender influencer Dylan Mulvaney as the catalyst for its spectacular market collapse.
Frericks did not mince words when describing how pressure from special interest groups and DEI (Diversity, Equity, and Inclusion) policies influenced business decisions that alienated Bud Light’s traditional customer base. “The problem with the Bud Light-Dylan Mulvaney partnership was they just were not an authentic partnership at all,” Frericks stated, adding, “They were catering to a lot of those special interests.”
The executive described watching the transformation of a once-proud American company focused on meritocracy into one increasingly driven by political agendas. “I joined a company that I thought was a great meritocracy, and then I saw the company really change, especially after 2020, 2021, when the DEI movement was really gaining steam,” Frericks explained.
Customer Backlash And Financial Fallout
The consumer response was swift and devastating for what was once America’s top-selling beer. Sales plummeted nearly 30% year-over-year by January 2025, with the brand losing its coveted position as America’s most popular beer to Mexican rival Modelo.
Country music star Kid Rock memorably filmed himself shooting cases of Bud Light with a rifle in protest, a video that quickly went viral. The company’s European ownership through InBev contributed to what Frericks describes as a fundamental misunderstanding of American values and the brand’s core customer base.
“It was authentically a brand that was about sports and humor and bringing people together. It never got involved in really politicized issues… and Dylan Mulvaney was the face of a lot of these very polarizing topics,” Frericks noted.
Anheuser-Busch CEO Brendan Whitworth attempted damage control with a public statement that was widely criticized for failing to directly address the controversy. The company later attempted recovery strategies including becoming the official beer of the UFC and releasing a well-received Super Bowl ad featuring Shane Gillis and Post Malone.
External Pressure From Wall Street Giants
Frericks, who Co-Founded Strive Asset Management after leaving Anheuser-Busch, points to powerful external influences that pushed the brand away from its traditional values. He specifically identified pressure from asset managers like BlackRock promoting ESG (Environmental, Social, and Governance) and DEI policies as major factors in the company’s ill-fated decision.
Frericks stated that companies should not “put avocado on the burger,” and should remember who their core customers are. He suggested that Anheuser-Busch issue a formal apology and try to reconnect with customers who felt betrayed by the brand’s sudden embrace of progressive politics.
